CVR Energy (NYSE:CVI) Posts Earnings Results

CVR Energy (NYSE:CVI) released its earnings results on Wednesday. The oil and gas company reported ($0.80) earnings per share for the quarter, beating the consensus estimate of ($0.84) by $0.04, FiscalAI reports. CVR Energy had a negative return on equity of 6.43% and a net margin of 2.26%.The business had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.70 billion. During the same quarter last year, the business posted ($0.13) earnings per share. The business’s quarterly revenue was down 7.0% compared to the same quarter last year.

CVR Energy Stock Performance

NYSE CVI opened at $22.33 on Thursday. The stock has a fifty day simple moving average of $24.81 and a 200-day simple moving average of $30.35. The company has a current ratio of 1.96, a quick ratio of 1.28 and a debt-to-equity ratio of 1.76. The stock has a market cap of $2.25 billion, a PE ratio of 13.62 and a beta of 1.16. CVR Energy has a twelve month low of $15.10 and a twelve month high of $41.67.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. The Goldman Sachs Group raised their price objective on CVR Energy from $19.00 to $25.00 and gave the company a “sell” rating in a report on Wednesday, October 22nd. Wall Street Zen raised shares of CVR Energy from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of CVR Energy in a research note on Monday, December 29th. Two investment analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Strong Sell” and a consensus target price of $29.25.

Institutional Investors Weigh In On CVR Energy

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Quarry LP purchased a new position in shares of CVR Energy during the 3rd quarter worth approximately $50,000. Aster Capital Management DIFC Ltd acquired a new position in CVR Energy during the 4th quarter worth about $40,000. Raymond James Financial Inc. purchased a new position in CVR Energy during the 2nd quarter valued at about $53,000. BNP Paribas Financial Markets grew its position in CVR Energy by 48.0% in the 2nd quarter. BNP Paribas Financial Markets now owns 3,633 shares of the oil and gas company’s stock valued at $98,000 after acquiring an additional 1,178 shares in the last quarter. Finally, Quantbot Technologies LP acquired a new stake in shares of CVR Energy during the second quarter worth about $114,000. 98.88% of the stock is owned by hedge funds and other 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.