CVR Energy (NYSE:CVI) Shares Down 4% – Here’s Why

CVR Energy Inc. (NYSE:CVI) shares dropped 4% on Tuesday . The company traded as low as $33.75 and last traded at $33.5560. Approximately 461,671 shares were traded during trading, a decline of 68% from the average daily volume of 1,461,362 shares. The stock had previously closed at $34.94.

Analyst Upgrades and Downgrades

CVI has been the subject of a number of research reports. Weiss Ratings downgraded shares of CVR Energy from a “hold (c)” rating to a “sell (d)” rating in a research note on Friday, February 20th. Raymond James Financial upgraded CVR Energy from an “underperform” rating to a “market perform” rating in a report on Wednesday, March 25th. Mizuho increased their target price on CVR Energy from $28.00 to $32.00 and gave the stock an “underperform” rating in a research report on Tuesday, March 17th. Wall Street Zen upgraded CVR Energy from a “sell” rating to a “hold” rating in a research note on Saturday, March 21st. Finally, The Goldman Sachs Group lifted their price target on CVR Energy from $22.00 to $25.00 and gave the company a “sell” rating in a research report on Thursday, March 12th. Two equities research analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, CVR Energy has a consensus rating of “Strong Sell” and an average price target of $30.00.

CVR Energy Stock Performance

The company has a market capitalization of $3.37 billion, a P/E ratio of 129.02 and a beta of 1.12. The company’s 50 day moving average is $25.91 and its 200-day moving average is $30.23. The company has a current ratio of 1.79, a quick ratio of 1.13 and a debt-to-equity ratio of 1.95.

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

CVR Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 9th. Stockholders of record on Monday, March 2nd were given a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date of this dividend was Monday, March 2nd.

Insider Buying and Selling at CVR Energy

In related news, major shareholder Carl C. Icahn acquired 275,012 shares of CVR Energy stock in a transaction that occurred on Tuesday, February 24th. The stock was bought 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 acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In the last quarter, insiders purchased 783,404 shares of company stock valued at $16,445,044. Corporate insiders own 0.01% of the company’s stock.

Institutional Investors Weigh In On CVR Energy

Several hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in shares of CVR Energy by 3.0% in the fourth quarter. Vanguard Group Inc. now owns 3,705,809 shares of the oil and gas company’s stock worth $94,276,000 after acquiring an additional 106,906 shares during the last quarter. State Street Corp raised its position in shares of CVR Energy by 2.6% in the 4th quarter. State Street Corp now owns 1,779,701 shares of the oil and gas company’s stock worth $45,276,000 after purchasing an additional 45,603 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its stake in CVR Energy by 33.9% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,364,250 shares of the oil and gas company’s stock worth $49,768,000 after purchasing an additional 345,758 shares in the last quarter. Renaissance Technologies LLC grew its position in CVR Energy by 31.6% during the 4th quarter. Renaissance Technologies LLC now owns 1,167,184 shares of the oil and gas company’s stock valued at $29,693,000 after purchasing an additional 280,300 shares during the last quarter. Finally, UBS Group AG grew its position in CVR Energy by 32.2% during the 4th quarter. UBS Group AG now owns 850,042 shares of the oil and gas company’s stock valued at $21,625,000 after purchasing an additional 206,861 shares during the last quarter. 98.88% of the stock is owned by institutional investors.

CVR Energy Company Profile

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.