CVR Energy (NYSE:CVI) Stock Price Up 6.7% – Here’s Why

CVR Energy Inc. (NYSE:CVI)’s share price rose 6.7% during mid-day trading on Wednesday . The company traded as high as $27.57 and last traded at $27.4410. Approximately 456,221 shares changed hands during trading, a decline of 67% from the average daily volume of 1,369,967 shares. The stock had previously closed at $25.72.

Wall Street Analysts Forecast Growth

CVI has been the topic of a number of recent analyst reports. Weiss Ratings lowered shares of CVR Energy from a “hold (c)” rating to a “sell (d)” rating in a research report on Friday, February 20th. Wall Street Zen downgraded shares of CVR Energy from a “hold” rating to a “sell” rating in a report on Saturday, February 21st. Finally, The Goldman Sachs Group raised their target price on shares of CVR Energy from $22.00 to $25.00 and gave the company a “sell” rating in a research note on Thursday. One analyst has rated the stock with a Hold rating and five have issued a Sell rating to the stock. According to MarketBeat, CVR Energy presently has an average rating of “Strong Sell” and a consensus target price of $29.25.

CVR Energy Price Performance

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 fifty day simple moving average of $23.85 and a 200-day simple moving average of $30.10. The stock has a market cap of $2.87 billion, a price-to-earnings ratio of 109.76 and a beta of 1.12.

CVR Energy (NYSE:CVI) last issued its quarterly earnings results on Wednesday, February 18th. The oil and gas company reported ($0.80) EPS for the quarter, topping 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 during the quarter, compared to analyst estimates of $1.70 billion. During the same period in the previous year, the company earned ($0.13) earnings per share. The company’s quarterly revenue was down 7.0% compared to the same quarter last year. As a group, equities research analysts expect that CVR Energy Inc. will post -0.12 EPS for the current year.

CVR Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 9th. Investors of record on Monday, March 2nd were paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 5.2%. The ex-dividend date was Monday, March 2nd.

Insiders Place Their Bets

In related news, major shareholder Carl C. Icahn purchased 275,012 shares of CVR Energy stock in a transaction on Tuesday, February 24th. The stock was purchased at an average cost of $21.41 per share, with a total value of $5,888,006.92. Following the acquisition, the insider directly owned 71,201,875 shares in the company, valued at approximately $1,524,432,143.75. This trade represents a 0.39% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Over the last ninety days, insiders have acquired 783,404 shares of company stock valued at $16,445,044. 0.01% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in CVI. Caitong International Asset Management Co. Ltd lifted its stake in shares of CVR Energy by 1,817.5% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 3,394 shares of the oil and gas company’s stock valued at $86,000 after buying an additional 3,217 shares during the period. Invesco Ltd. increased its stake in CVR Energy by 19.2% during the fourth quarter. Invesco Ltd. now owns 714,428 shares of the oil and gas company’s stock valued at $18,175,000 after acquiring an additional 115,219 shares during the period. Vident Advisory LLC increased its stake in CVR Energy by 369.4% during the fourth quarter. Vident Advisory LLC now owns 30,822 shares of the oil and gas company’s stock valued at $784,000 after acquiring an additional 24,256 shares during the period. NewEdge Advisors LLC raised its holdings in CVR Energy by 5.6% in the 4th quarter. NewEdge Advisors LLC now owns 13,394 shares of the oil and gas company’s stock valued at $341,000 after acquiring an additional 709 shares in the last quarter. Finally, XTX Topco Ltd raised its holdings in CVR Energy by 348.6% in the 4th quarter. XTX Topco Ltd now owns 138,160 shares of the oil and gas company’s stock valued at $3,515,000 after acquiring an additional 107,364 shares in the last quarter. Institutional investors own 98.88% of the company’s stock.

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.