CVR Energy (NYSE:CVI) Shares Gap Down – Here’s Why

CVR Energy Inc. (NYSE:CVI) shares gapped down before the market opened on Monday . The stock had previously closed at $33.82, but opened at $32.11. CVR Energy shares last traded at $32.6890, with a volume of 232,546 shares traded.

Wall Street Analyst Weigh In

Several research firms recently weighed in on CVI. Weiss Ratings downgraded CVR Energy from a “hold (c)” rating to a “sell (d)” rating in a report on Friday, February 20th. The Goldman Sachs Group increased their target price on shares of CVR Energy from $22.00 to $25.00 and gave the stock a “sell” rating in a report on Thursday, March 12th. Mizuho raised their target price on shares of CVR Energy from $28.00 to $32.00 and gave the company an “underperform” rating in a research report on Tuesday, March 17th. Finally, Wall Street Zen upgraded shares of CVR Energy from a “sell” rating to a “hold” rating in a report on Saturday. One investment analyst has rated the stock with a Hold rating and five have issued a Sell rating to the company. Based on data from MarketBeat, CVR Energy currently has a consensus rating of “Strong Sell” and an average target price of $30.00.

CVR Energy Trading Up 1.9%

The company has a current ratio of 1.79, a quick ratio of 1.13 and a debt-to-equity ratio of 1.95. The stock has a market capitalization of $3.33 billion, a P/E ratio of 127.24 and a beta of 1.12. The company has a 50-day moving average price of $25.07 and a 200 day moving average price of $30.17.

CVR Energy (NYSE:CVI) last issued its quarterly earnings data on Wednesday, February 18th. The oil and gas company reported ($0.80) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.84) by $0.04. CVR Energy had a negative return on equity of 14.31% and a net margin of 0.38%.The company had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.70 billion. During the same quarter last year, the company earned ($0.13) earnings per share. The firm’s revenue for the quarter was down 7.0% compared to the same quarter last year. On average, research analysts forecast that CVR Energy Inc. will post -0.12 earnings per share for the current fiscal year.

CVR Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 9th. Stockholders of record on Monday, March 2nd were issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date was Monday, March 2nd.

Insider Activity

In other news, major shareholder Carl C. Icahn acquired 275,012 shares of the business’s stock in a transaction dated Tuesday, February 24th. The shares were purchased at an average price of $21.41 per share, with a total value of $5,888,006.92. Following the transaction, the insider directly owned 71,201,875 shares in the company, valued at approximately $1,524,432,143.75. This represents a 0.39% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last quarter, insiders have purchased 783,404 shares of company stock valued at $16,445,044. 0.01% of the stock is owned by insiders.

Institutional Investors Weigh In On CVR Energy

Several institutional investors have recently bought and sold shares of the company. Aster Capital Management DIFC Ltd acquired a new position in shares of CVR Energy during the fourth quarter worth $40,000. Exchange Traded Concepts LLC acquired a new stake in shares of CVR Energy in the 4th quarter worth $47,000. Horizon Investments LLC acquired a new stake in shares of CVR Energy in the 4th quarter worth $47,000. Quarry LP purchased a new position in CVR Energy during the 3rd quarter worth $50,000. Finally, Raymond James Financial Inc. purchased a new position in CVR Energy during the 2nd quarter worth $53,000. 98.88% of the stock is currently owned by institutional investors and hedge funds.

About CVR Energy

CVR Energy, Inc is an independent downstream energy company engaged primarily in petroleum refining and nitrogen fertilizer production in the United States. Headquartered in Sugar Land, Texas, CVR Energy operates through two reportable segments—Petroleum Products and Nitrogen Fertilizers—leveraging its refining expertise and distribution network to serve both wholesale and retail markets across key regions in the U.S.

In its Petroleum Products segment, the company owns and operates the Coffeyville, Kansas refinery, which has the capability to process various grades of crude oil into gasoline, diesel, jet fuel and other refined products.