CVR Energy (NYSE:CVI) Reaches New 1-Year High – Still a Buy?

CVR Energy Inc. (NYSE:CVI)’s stock price hit a new 52-week high during trading on Thursday . The stock traded as high as $47.85 and last traded at $47.6380, with a volume of 1152077 shares. The stock had previously closed at $46.12.

Analysts Set New Price Targets

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

CVR Energy Stock Performance

The company has a current ratio of 1.42, a quick ratio of 0.92 and a debt-to-equity ratio of 2.38. The stock has a market capitalization of $4.79 billion, a PE ratio of 70.06 and a beta of 0.85. The firm’s 50-day simple moving average is $35.87 and its two-hundred day simple moving average is $32.46.

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

CVR Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 17th. Investors of record on Monday, August 10th were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend was Monday, August 10th. CVR Energy’s dividend payout ratio is currently 58.82%.

Institutional Investors Weigh In On CVR Energy

A number of institutional investors have recently bought and sold shares of CVI. Nykredit A S purchased a new position in CVR Energy during the 2nd quarter valued at about $29,000. EverSource Wealth Advisors LLC lifted its position 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 in the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of CVR Energy by 51.5% during 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 purchasing an additional 388 shares during the period. Quarry LP acquired a new stake in shares of CVR Energy during the third quarter worth approximately $50,000. Finally, Aster Capital Management DIFC Ltd purchased a new position in CVR Energy during the fourth quarter valued at approximately $40,000. 98.88% of the stock is currently owned by institutional investors and hedge funds.

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.