CVR Energy (NYSE:CVI) Trading 11.3% Higher – Here’s Why

Shares of CVR Energy Inc. (NYSE:CVI) rose 11.3% during trading on Friday . The company traded as high as $39.95 and last traded at $39.88. Approximately 611,776 shares were traded during mid-day trading, a decline of 47% from the average daily volume of 1,158,944 shares. The stock had previously closed at $35.83.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Tudor Pickering downgraded shares of CVR Energy from a “hold” rating to a “sell” rating in a report on Thursday, June 4th. Weiss Ratings restated a “sell (d-)” rating on shares of CVR Energy in a research report on Wednesday, August 12th. UBS Group reaffirmed a “neutral” rating and set a $35.00 price target on shares of CVR Energy in a research note on Monday, June 29th. Wall Street Zen upgraded CVR Energy from a “hold” rating to a “buy” rating in a report on Saturday, August 1st. Finally, Zacks Research upgraded CVR Energy from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 4th. Three analysts have rated the stock with a Hold rating and five have issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Strong Sell” and a consensus price target of $30.50.

CVR Energy Stock Performance

The company has a market cap of $4.02 billion, a PE ratio of 58.75 and a beta of 0.83. The business’s 50-day moving average is $31.85 and its 200 day moving average is $30.59. The company has a debt-to-equity ratio of 2.38, a quick ratio of 0.92 and a current ratio of 1.42.

CVR Energy (NYSE:CVI) last posted its quarterly earnings results on Wednesday, July 29th. The oil and gas company reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.08. CVR Energy had a net margin of 0.81% and a negative return on equity of 15.21%. The business had revenue of $2.74 billion during the quarter, compared to analyst estimates of $2.22 billion. During the same period in the prior year, the business posted ($0.23) earnings per share. The company’s revenue was up 55.5% on a year-over-year basis. On average, equities research analysts predict that CVR Energy Inc. will post 0.79 EPS for the current fiscal year.

CVR Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 17th. Stockholders of record on Monday, August 10th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend was Monday, August 10th. CVR Energy’s payout ratio is 58.82%.

Hedge Funds Weigh In On CVR Energy

Several institutional investors and hedge funds have recently bought and sold shares of CVI. Nykredit A S bought a new stake in CVR Energy in the second quarter valued at approximately $29,000. EverSource Wealth Advisors LLC grew its holdings in shares of CVR Energy by 44.4% in the first quarter. EverSource Wealth Advisors LLC now owns 1,102 shares of the oil and gas company’s stock worth $37,000 after purchasing an additional 339 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in shares of CVR Energy by 51.5% in the first quarter. PNC Financial Services Group Inc. now owns 1,142 shares of the oil and gas company’s stock worth $38,000 after buying an additional 388 shares during the period. Quarry LP purchased a new position in shares of CVR Energy in the third quarter worth $50,000. Finally, Aster Capital Management DIFC Ltd purchased a new position in shares of CVR Energy in the fourth quarter worth $40,000. 98.88% of the stock is currently owned by institutional investors.

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.