CVR Energy (NYSE:CVI) Stock Price Down 4.2% – Here’s Why

CVR Energy, Inc. (NYSE:CVI) shares traded down 4.2% on Thursday . The company traded as low as $19.01 and last traded at $19.05. 91,642 shares traded hands during mid-day trading, a decline of 92% from the average session volume of 1,140,229 shares. The stock had previously closed at $19.88.

Wall Street Analyst Weigh In

CVI has been the subject of a number of analyst reports. Tudor, Pickering, Holt & Co. cut shares of CVR Energy from a “hold” rating to a “sell” rating in a research note on Monday, September 9th. Tudor Pickering upgraded CVR Energy to a “strong sell” rating in a research note on Monday, September 9th. Mizuho lowered their price objective on CVR Energy from $27.00 to $25.00 and set a “neutral” rating on the stock in a research report on Monday, September 16th. Scotiabank dropped their price objective 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. Finally, StockNews.com downgraded CVR Energy from a “hold” rating to a “sell” rating in a research note on Saturday. Six investment analysts have rated the stock with a sell rating and two have issued a hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus price target of $24.00.

CVR Energy Stock Down 0.7 %

The company has a quick ratio of 0.86, a current ratio of 1.33 and a debt-to-equity ratio of 1.84. The stock has a market capitalization of $1.90 billion, a P/E ratio of 27.41 and a beta of 1.57. The company has a fifty day moving average price of $20.30 and a 200-day moving average price of $23.60.

CVR Energy (NYSE:CVI) last issued 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). CVR Energy had a return on equity of 2.88% and a net margin of 0.89%. The business had revenue of $1.83 billion during the quarter, compared to analysts’ expectations of $1.91 billion. During the same period in the previous year, the business earned $1.89 earnings per share. The business’s quarterly revenue was down 27.3% on a year-over-year basis. As a group, research analysts forecast that CVR Energy, Inc. will post -0.12 EPS for the current fiscal year.

Hedge Funds Weigh In On CVR Energy

Large investors have recently made changes to their positions in the company. SG Americas Securities LLC bought a new position in shares of CVR Energy in the second quarter worth about $221,000. Neo Ivy Capital Management purchased a new position in shares of CVR Energy during the second quarter worth approximately $2,484,000. SummerHaven Investment Management LLC raised its stake in shares of CVR Energy by 2.2% during the second quarter. SummerHaven Investment Management LLC now owns 24,511 shares of the oil and gas company’s stock valued at $656,000 after acquiring an additional 530 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of CVR Energy by 0.3% in the second quarter. Bank of New York Mellon Corp now owns 975,323 shares of the oil and gas company’s stock valued at $26,109,000 after purchasing an additional 3,134 shares during the period. Finally, TrueMark Investments LLC purchased a new stake in shares of CVR Energy in the second quarter valued at approximately $419,000. 98.88% of the stock is owned by hedge funds and other institutional investors.

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.