CVR Energy (NYSE:CVI) Hits New 12-Month High – Should You Buy?

CVR Energy Inc. (NYSE:CVI) shares hit a new 52-week high on Friday. The stock traded as high as $56.24 and last traded at $54.5510, with a volume of 73092 shares. The stock had previously closed at $54.36.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Tudor Pickering cut CVR Energy from a “hold” rating to a “sell” rating in a research note on Thursday, June 4th. Mizuho lifted their target price on shares of CVR Energy from $28.00 to $29.00 and gave the stock an “underperform” rating in a research note on Tuesday, August 4th. UBS Group reissued a “neutral” rating and issued a $35.00 price target on shares of CVR Energy in a research report on Monday, June 29th. Wall Street Zen upgraded shares of CVR Energy from a “hold” rating to a “buy” rating in a research note on Saturday, August 1st. Finally, Zacks Research raised shares of CVR Energy from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 4th. Four equities research analysts have rated the stock with a Hold rating and four have given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Reduce” and a consensus target price of $30.50.

CVR Energy Stock Performance

The business’s fifty day moving average price is $42.11 and its 200-day moving average price is $35.45. The company has a debt-to-equity ratio of 2.38, a current ratio of 1.42 and a quick ratio of 0.92. The stock has a market capitalization of $5.45 billion, a PE ratio of 79.50 and a beta of 0.90.

CVR Energy (NYSE:CVI) last issued its quarterly earnings data on Wednesday, July 29th. The oil and gas company reported $0.34 EPS for the quarter, beating the consensus estimate of $0.26 by $0.08. The company had revenue of $2.74 billion during the quarter, compared to analysts’ expectations of $2.22 billion. CVR Energy had a net margin of 0.81% and a negative return on equity of 15.21%. CVR Energy’s revenue for the quarter was up 55.5% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.23) earnings per share. As a group, equities research analysts expect that CVR Energy Inc. will post 1.56 EPS for the current year.

CVR Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, August 17th. Stockholders of record on Monday, August 10th were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Monday, August 10th. CVR Energy’s payout ratio is 58.82%.

Institutional Investors Weigh In On CVR Energy

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Legal & General Group Plc purchased a new position in shares of CVR Energy during the second quarter worth about $1,878,000. PDT Partners LLC purchased a new stake in CVR Energy in the second quarter valued at approximately $14,502,000. NFJ Investment Group LLC bought a new stake in CVR Energy during the second quarter valued at approximately $2,198,000. Squarepoint Ops LLC lifted its position in CVR Energy by 95.0% during the second quarter. Squarepoint Ops LLC now owns 218,382 shares of the oil and gas company’s stock valued at $6,014,000 after purchasing an additional 106,406 shares during the last quarter. Finally, BlackRock Inc. purchased a new position in CVR Energy in the 2nd quarter worth approximately $143,262,000. Hedge funds and other institutional investors own 98.88% of the company’s stock.

CVR Energy Company Profile

CVR Energy, Inc is a diversified energy company engaged primarily in petroleum refining and nitrogen fertilizer production. Headquartered in Sugar Land, Texas, the company operates through subsidiaries that serve customers in the United States, with activities concentrated in the Midcontinent region.

Through its refining operations, CVR Energy processes crude oil into transportation fuels and other refined products, including gasoline, diesel fuel, jet fuel and asphalt. Its refineries are located in Coffeyville, Kansas, and Wynnewood, Oklahoma, and are supported by related logistics, storage and transportation assets.

CVR Energy also owns and operates nitrogen fertilizer facilities through CVR Partners, LP.