CVR Energy (NYSE:CVI) Trading 7.4% Higher – What’s Next?

CVR Energy Inc. (NYSE:CVI)’s stock price shot up 7.4% on Wednesday . The stock traded as high as $24.62 and last traded at $24.54. 257,222 shares were traded during trading, a decline of 82% from the average session volume of 1,430,405 shares. The stock had previously closed at $22.85.

Analyst Upgrades and Downgrades

CVI has been the subject of a number of research analyst reports. UBS Group set a $37.00 price target on shares of CVR Energy in a research report on Sunday, September 28th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of CVR Energy in a research report on Monday, December 29th. Wall Street Zen upgraded shares of CVR Energy from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Scotiabank reissued an “underperform” rating on shares of CVR Energy in a research note on Thursday, October 9th. Finally, The Goldman Sachs Group boosted their price target on shares of CVR Energy from $19.00 to $25.00 and gave the company a “sell” rating in a report on Wednesday, October 22nd. Two analysts have rated the stock with a Hold rating and four have given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Strong Sell” and a consensus target price of $29.25.

CVR Energy Price Performance

The company has a debt-to-equity ratio of 1.76, a current ratio of 1.96 and a quick ratio of 1.28. The stock has a market capitalization of $2.47 billion, a price-to-earnings ratio of 14.95 and a beta of 1.14. The stock’s 50 day simple moving average is $28.85 and its 200-day simple moving average is $31.08.

CVR Energy (NYSE:CVI) last released its quarterly earnings results on Wednesday, October 29th. The oil and gas company reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.20. CVR Energy had a net margin of 2.26% and a negative return on equity of 6.43%. The business had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.82 billion. During the same quarter last year, the firm earned ($0.50) EPS. CVR Energy’s revenue for the quarter was up 6.1% on a year-over-year basis. On average, analysts expect that CVR Energy Inc. will post -0.12 EPS for the current fiscal year.

Institutional Trading of CVR Energy

A number of institutional investors and hedge funds have recently made changes to their positions in CVI. Jacobs Levy Equity Management Inc. lifted its holdings in CVR Energy by 33.9% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,364,250 shares of the oil and gas company’s stock worth $49,768,000 after purchasing an additional 345,758 shares during the last quarter. American Century Companies Inc. raised its position in shares of CVR Energy by 5.5% in the second quarter. American Century Companies Inc. now owns 825,202 shares of the oil and gas company’s stock valued at $22,157,000 after purchasing an additional 43,190 shares during the period. BNP Paribas Financial Markets raised its position in shares of CVR Energy by 21,261.8% in the third quarter. BNP Paribas Financial Markets now owns 776,073 shares of the oil and gas company’s stock valued at $28,311,000 after purchasing an additional 772,440 shares during the period. Bank of America Corp DE lifted its stake in shares of CVR Energy by 101.2% in the third quarter. Bank of America Corp DE now owns 706,504 shares of the oil and gas company’s stock worth $25,773,000 after buying an additional 355,412 shares during the last quarter. Finally, Tudor Investment Corp ET AL bought a new stake in shares of CVR Energy during the 3rd quarter worth $22,217,000. Institutional investors and hedge funds own 98.88% of the company’s stock.

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.