CVR Energy (CVI) Lowered to Hold at ValuEngine
ValuEngine downgraded shares of CVR Energy (NYSE:CVI) from a buy rating to a hold rating in a report published on Tuesday morning.
Separately, BidaskClub upgraded shares of CVR Energy from a strong sell rating to a sell rating in a research note on Saturday, August 26th.
Shares of CVR Energy (NYSE:CVI) traded up $1.33 during mid-day trading on Tuesday, reaching $33.79. 425,000 shares of the company’s stock traded hands, compared to its average volume of 637,541. The company has a quick ratio of 1.69, a current ratio of 2.24 and a debt-to-equity ratio of 0.72. CVR Energy has a 12-month low of $16.75 and a 12-month high of $34.12. The firm has a market cap of $2,818.54, a price-to-earnings ratio of 49.94 and a beta of 1.80.
CVR Energy (NYSE:CVI) last issued its quarterly earnings results on Wednesday, November 1st. The oil and gas company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.08. CVR Energy had a net margin of 0.71% and a return on equity of 3.37%. The firm had revenue of $1.45 billion for the quarter.
The company also recently disclosed a quarterly dividend, which was paid on Friday, November 17th. Stockholders of record on Friday, November 10th were paid a dividend of $0.50 per share. The ex-dividend date was Thursday, November 9th. This represents a $2.00 annualized dividend and a dividend yield of 5.92%. CVR Energy’s dividend payout ratio is presently 416.68%.
Several institutional investors have recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio increased its stake in shares of CVR Energy by 3.9% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 9,651 shares of the oil and gas company’s stock worth $210,000 after purchasing an additional 358 shares during the last quarter. Zweig DiMenna Associates LLC increased its stake in shares of CVR Energy by 6.4% during the 2nd quarter. Zweig DiMenna Associates LLC now owns 13,300 shares of the oil and gas company’s stock worth $289,000 after purchasing an additional 800 shares during the last quarter. Advisor Group Inc. increased its stake in shares of CVR Energy by 27.6% during the 2nd quarter. Advisor Group Inc. now owns 4,685 shares of the oil and gas company’s stock worth $102,000 after purchasing an additional 1,013 shares during the last quarter. Creative Planning increased its stake in shares of CVR Energy by 39.4% during the 2nd quarter. Creative Planning now owns 6,550 shares of the oil and gas company’s stock worth $143,000 after purchasing an additional 1,850 shares during the last quarter. Finally, US Bancorp DE increased its stake in shares of CVR Energy by 18.0% during the 2nd quarter. US Bancorp DE now owns 13,054 shares of the oil and gas company’s stock worth $284,000 after purchasing an additional 1,989 shares during the last quarter.
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About CVR Energy
CVR Energy, Inc (CVR Energy) is a holding company. The Company is engaged in the petroleum refining and nitrogen fertilizer manufacturing through its holdings in CVR Refining LP (CVR Refining or the Refining Partnership) and CVR Partners LP (CVR Partners or the Nitrogen Fertilizer Partnership). It operates under two business segments: petroleum (the petroleum and related businesses operated by the Refining Partnership) and nitrogen fertilizer (the nitrogen fertilizer business operated by the Nitrogen Fertilizer Partnership).
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