CVR Energy (NYSE:CVI) Shares Gap Down to $23.44

CVR Energy, Inc. (NYSE:CVI) gapped down prior to trading on Friday . The stock had previously closed at $23.44, but opened at $19.15. CVR Energy shares last traded at $19.62, with a volume of 12,956 shares traded.

Several analysts have issued reports on the stock. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell decreased their price target on shares of CVR Energy from $31.00 to $28.00 and set a “buy” rating on the stock in a research report on Wednesday. Credit Suisse Group upgraded shares of CVR Energy from an “underperform” rating to a “neutral” rating in a research report on Wednesday, February 17th. Citigroup decreased their target price on shares of CVR Energy from $31.00 to $28.00 and set a “buy” rating on the stock in a research report on Wednesday. Tudor Pickering lowered shares of CVR Energy from a “hold” rating to a “sell” rating and set a $15.00 target price on the stock. in a research report on Friday, May 28th. Finally, Scotiabank lifted their target price on shares of CVR Energy from $17.00 to $23.00 and gave the company a “sector perform” rating in a research report on Tuesday, March 2nd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the stock. CVR Energy currently has an average rating of “Hold” and an average target price of $22.20.

The stock has a market capitalization of $1.94 billion, a PE ratio of -9.48 and a beta of 1.97. The business’s fifty day moving average price is $21.21. The company has a quick ratio of 1.23, a current ratio of 1.61 and a debt-to-equity ratio of 1.45.

CVR Energy (NYSE:CVI) last announced its quarterly earnings results on Sunday, May 2nd. The oil and gas company reported ($1.33) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.17) by ($0.16). CVR Energy had a negative net margin of 4.86% and a negative return on equity of 30.75%. The firm had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1 billion. On average, research analysts predict that CVR Energy, Inc. will post -0.85 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Public Employees Retirement System of Ohio raised its stake in shares of CVR Energy by 30.9% during the fourth quarter. Public Employees Retirement System of Ohio now owns 4,671 shares of the oil and gas company’s stock worth $70,000 after buying an additional 1,102 shares during the last quarter. Royal Bank of Canada raised its stake in shares of CVR Energy by 107.3% during the first quarter. Royal Bank of Canada now owns 4,353 shares of the oil and gas company’s stock worth $83,000 after buying an additional 2,253 shares during the last quarter. Pinz Capital Management LP bought a new stake in shares of CVR Energy during the first quarter worth approximately $130,000. SG Americas Securities LLC bought a new stake in shares of CVR Energy during the fourth quarter worth approximately $151,000. Finally, Fox Run Management L.L.C. bought a new stake in shares of CVR Energy during the fourth quarter worth approximately $204,000. 91.50% of the stock is owned by institutional investors.

About CVR Energy (NYSE:CVI)

CVR Energy, Inc, through its subsidiaries, engages in petroleum refining and nitrogen fertilizer manufacturing activities in the United States. The company operates through two segments, Petroleum and Nitrogen Fertilizer. The Petroleum segment refines and markets gasoline, diesel fuel, and other refined products.

Featured Story: Stock Market – What is a circuit breaker?

Receive News & Ratings for CVR Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CVR Energy and related companies with MarketBeat.com's FREE daily email newsletter.