CVR Energy (NYSE:CVI) Stock Price Down 4.4% – Here’s What Happened

CVR Energy, Inc. (NYSE:CVI) shares were down 4.4% during mid-day trading on Wednesday . The stock traded as low as $18.16 and last traded at $18.17. Approximately 186,380 shares changed hands during trading, a decline of 84% from the average daily volume of 1,132,055 shares. The stock had previously closed at $19.00.

Wall Street Analyst Weigh In

CVI has been the topic of a number of recent analyst reports. StockNews.com lowered CVR Energy from a “hold” rating to a “sell” rating in a research report on Wednesday, October 30th. UBS Group dropped their price target on CVR Energy from $33.75 to $30.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 13th. JPMorgan Chase & Co. dropped their price target on CVR Energy from $26.00 to $23.00 and set an “underweight” rating on the stock in a research report on Wednesday, October 2nd. Tudor, Pickering, Holt & Co. cut CVR Energy from a “hold” rating to a “sell” rating in a research note on Monday, September 9th. Finally, Scotiabank decreased their price target on CVR Energy from $25.00 to $21.00 and set a “sector underperform” rating for the company in a research note on Thursday, October 10th. Five analysts have rated the stock with a sell rating and two have issued a hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus target price of $24.75.

CVR Energy Stock Performance

The company has a market cap of $1.84 billion, a PE ratio of 27.54 and a beta of 1.57. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.33 and a quick ratio of 0.86. The business has a 50-day moving average of $21.02 and a 200 day moving average of $24.11.

CVR Energy (NYSE:CVI) last posted its quarterly earnings data on Monday, October 28th. The oil and gas company reported ($0.50) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.41). The firm had revenue of $1.83 billion for the quarter, compared to analysts’ expectations of $1.91 billion. CVR Energy had a net margin of 0.89% and a return on equity of 2.88%. The firm’s revenue was down 27.3% compared to the same quarter last year. During the same quarter last year, the company posted $1.89 EPS. Equities research analysts anticipate that CVR Energy, Inc. will post -0.12 EPS for the current fiscal year.

Institutional Trading of CVR Energy

Several hedge funds have recently bought and sold shares of the stock. Wilmington Savings Fund Society FSB bought a new stake in CVR Energy during the third quarter valued at about $43,000. Barclays PLC boosted its stake in shares of CVR Energy by 214.3% in the third quarter. Barclays PLC now owns 78,030 shares of the oil and gas company’s stock worth $1,797,000 after acquiring an additional 53,203 shares during the period. Vestcor Inc boosted its stake in shares of CVR Energy by 401.4% in the third quarter. Vestcor Inc now owns 24,233 shares of the oil and gas company’s stock worth $558,000 after acquiring an additional 19,400 shares during the period. XTX Topco Ltd bought a new position in shares of CVR Energy in the third quarter worth about $1,302,000. Finally, State Street Corp boosted its stake in shares of CVR Energy by 18.1% in the third quarter. State Street Corp now owns 2,075,058 shares of the oil and gas company’s stock worth $47,789,000 after acquiring an additional 317,475 shares during the period. Institutional investors own 98.88% of the company’s stock.

About CVR Energy

CVR Energy, Inc, together with its subsidiaries, engages in the petroleum refining and marketing, and nitrogen fertilizer manufacturing activities in the United States. It operates in two segments, Petroleum and Nitrogen Fertilizer. The Petroleum segment refines and supplies gasoline, crude oil, distillate, diesel fuel, and other refined products.