CVR Energy (NYSE:CVI) Stock Price Down 4.7% – What’s Next?

CVR Energy Inc. (NYSE:CVI) fell 4.7% during mid-day trading on Tuesday. The stock traded as low as $59.13 and last traded at $59.13. Approximately 141,426 shares changed hands during trading, a decline of 87% from the average session volume of 1,125,158 shares. The stock had previously closed at $62.02.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Zacks Research upgraded shares of CVR Energy from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 16th. Weiss Ratings upgraded shares of CVR Energy from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, October 8th. Mizuho upped their target price on shares of CVR Energy from $29.00 to $52.00 and gave the company an “underperform” rating in a report on Thursday, October 8th. The Goldman Sachs Group raised their target price on shares of CVR Energy from $36.00 to $50.00 and gave the company a “sell” rating in a research note on Friday, October 9th. Finally, UBS Group lifted their price target on CVR Energy from $35.00 to $53.00 and gave the stock a “neutral” rating in a report on Friday, October 2nd. One research analyst has rated the stock with a Strong Buy rating, three have issued a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce” and an average target price of $45.75.

CVR Energy Stock Down 7.1%

The company has a debt-to-equity ratio of 2.38, a quick ratio of 0.92 and a current ratio of 1.42. The firm has a fifty day simple moving average of $50.64 and a 200-day simple moving average of $34.91. The firm has a market cap of $5.79 billion, a price-to-earnings ratio of 85.32 and a beta of 0.90.

CVR Energy (NYSE:CVI) last released 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. CVR Energy had a net margin of 0.81% and a negative return on equity of 15.21%. The firm had revenue of $2.74 billion for the quarter, compared to the consensus estimate of $2.22 billion. During the same period in the previous year, the company earned ($0.23) earnings per share. The company’s quarterly revenue was up 55.5% on a year-over-year basis. As a group, sell-side analysts expect that CVR Energy Inc. will post 4.20 EPS for the current 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 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 dividend payout ratio (DPR) is currently 58.82%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of CVI. BlackRock Inc. acquired a new stake in CVR Energy during the second quarter worth approximately $143,262,000. PDT Partners LLC bought a new stake in shares of CVR Energy during the second quarter worth approximately $14,502,000. Dimensional Fund Advisors LP grew its position in shares of CVR Energy by 16.1% in the first quarter. Dimensional Fund Advisors LP now owns 1,908,062 shares of the oil and gas company’s stock valued at $64,220,000 after purchasing an additional 265,013 shares during the last quarter. First Trust Advisors LP grew its position in shares of CVR Energy by 687.6% in the first quarter. First Trust Advisors LP now owns 263,448 shares of the oil and gas company’s stock valued at $8,865,000 after purchasing an additional 229,998 shares during the last quarter. Finally, State Street Corp increased its stake in shares of CVR Energy by 11.0% during the second quarter. State Street Corp now owns 2,153,498 shares of the oil and gas company’s stock worth $59,315,000 after purchasing an additional 213,829 shares during the period. Institutional investors and hedge funds own 98.88% of the company’s stock.

About CVR Energy

CVR Energy, Inc (NYSE:CVI) is a diversified energy company engaged primarily in petroleum refining and nitrogen fertilizer production. Through its refining operations, the company processes crude oil into transportation fuels and other refined products, including gasoline, diesel fuel, jet fuel and asphalt.

CVR Energy operates refineries in Coffeyville, Kansas, and Wynnewood, Oklahoma. The facilities primarily serve customers in the Midcontinent region of the United States and are supported by related logistics and distribution assets.