CVR Energy (NYSE:CVI) Shares Down 5.7% Following Analyst Downgrade

CVR Energy Inc. (NYSE:CVI)’s stock price was down 5.7% during trading on Thursday after Tudor Pickering downgraded the stock from a hold rating to a sell rating. The stock traded as low as $33.50 and last traded at $33.4930. Approximately 288,494 shares traded hands during mid-day trading, a decline of 77% from the average daily volume of 1,240,128 shares. The stock had previously closed at $35.51.

Several other equities research analysts have also recently commented on the company. Weiss Ratings cut CVR Energy from a “sell (d+)” rating to a “sell (d-)” rating in a report on Friday, May 15th. Raymond James Financial raised CVR Energy from an “underperform” rating to a “market perform” rating in a report on Wednesday, March 25th. Mizuho increased their price target on CVR Energy from $32.00 to $35.00 and gave the company an “underperform” rating in a report on Wednesday, May 27th. Scotiabank increased their price target on CVR Energy from $25.00 to $28.00 and gave the company a “sector underperform” rating in a report on Wednesday, April 22nd. Finally, Wall Street Zen raised CVR Energy from a “sell” rating to a “hold” rating in a report on Saturday, May 2nd. Two research analysts have rated the stock with a Hold rating and five have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Strong Sell” and an average target price of $32.50.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in CVI. Royal Bank of Canada grew its position in CVR Energy by 67.2% in the first quarter. Royal Bank of Canada now owns 14,904 shares of the oil and gas company’s stock worth $289,000 after acquiring an additional 5,992 shares during the period. AQR Capital Management LLC purchased a new position in CVR Energy in the first quarter worth approximately $611,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in CVR Energy by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,301 shares of the oil and gas company’s stock worth $394,000 after acquiring an additional 858 shares during the period. Goldman Sachs Group Inc. grew its position in CVR Energy by 14.8% in the first quarter. Goldman Sachs Group Inc. now owns 496,650 shares of the oil and gas company’s stock worth $9,635,000 after acquiring an additional 63,909 shares during the period. Finally, JPMorgan Chase & Co. grew its position in CVR Energy by 34.2% in the second quarter. JPMorgan Chase & Co. now owns 273,777 shares of the oil and gas company’s stock worth $7,351,000 after acquiring an additional 69,726 shares during the period. 98.88% of the stock is currently owned by hedge funds and other institutional investors.

CVR Energy Stock Down 5.7%

The company has a market capitalization of $3.37 billion, a PE ratio of -78.01 and a beta of 0.80. The company has a quick ratio of 0.89, a current ratio of 1.44 and a debt-to-equity ratio of 2.41. The firm has a 50-day moving average of $32.82 and a two-hundred day moving average of $29.22.

CVR Energy (NYSE:CVI) last issued its quarterly earnings data on Wednesday, April 29th. The oil and gas company reported ($1.24) earnings per share for the quarter, missing the consensus estimate of ($0.54) by ($0.70). The business had revenue of $1.98 billion during the quarter, compared to analysts’ expectations of $1.73 billion. CVR Energy had a negative return on equity of 22.36% and a negative net margin of 0.56%.The company’s revenue was up 20.3% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.58) earnings per share. Equities research analysts predict that CVR Energy Inc. will post 1.04 earnings per share for the current fiscal year.

CVR Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 18th. Stockholders of record on Monday, May 11th were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.2%. The ex-dividend date was Monday, May 11th. CVR Energy’s dividend payout ratio (DPR) is presently -93.02%.

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.