CVR Energy (NYSE:CVI) Sets New 12-Month Low Following Analyst Downgrade

Shares of CVR Energy, Inc. (NYSE:CVI) hit a new 52-week low during trading on Wednesday after JPMorgan Chase & Co. lowered their price target on the stock from $30.00 to $26.00. JPMorgan Chase & Co. currently has an underweight rating on the stock. CVR Energy traded as low as $25.99 and last traded at $26.19, with a volume of 23333 shares traded. The stock had previously closed at $26.21.

Several other equities analysts have also recently weighed in on the company. UBS Group cut their price objective on CVR Energy from $37.00 to $33.75 and set a “neutral” rating on the stock in a report on Tuesday, May 14th. Scotiabank lifted their price objective on CVR Energy from $25.00 to $29.00 and gave the company a “sector underperform” rating in a report on Thursday, April 11th. Finally, StockNews.com cut CVR Energy from a “buy” rating to a “hold” rating in a report on Sunday, June 16th. Three analysts have rated the stock with a sell rating and two have assigned a hold rating to the stock. According to MarketBeat, CVR Energy currently has a consensus rating of “Reduce” and a consensus price target of $29.94.

Institutional Investors Weigh In On CVR Energy

Several institutional investors have recently bought and sold shares of CVI. Jones Financial Companies Lllp bought a new stake in CVR Energy in the 4th quarter valued at approximately $33,000. Future Financial Wealth Managment LLC bought a new stake in CVR Energy in the 1st quarter valued at approximately $71,000. Covestor Ltd lifted its stake in CVR Energy by 45,560.0% in the 1st quarter. Covestor Ltd now owns 2,283 shares of the oil and gas company’s stock valued at $81,000 after acquiring an additional 2,278 shares in the last quarter. Scarborough Advisors LLC bought a new stake in CVR Energy in the 4th quarter valued at approximately $89,000. Finally, TFO Wealth Partners LLC lifted its stake in CVR Energy by 246,550.0% in the 4th quarter. TFO Wealth Partners LLC now owns 4,933 shares of the oil and gas company’s stock valued at $149,000 after acquiring an additional 4,931 shares in the last quarter. Institutional investors own 98.88% of the company’s stock.

CVR Energy Price Performance

The stock has a market cap of $2.63 billion, a P/E ratio of 4.02 and a beta of 1.54. The company has a 50 day simple moving average of $28.53 and a 200 day simple moving average of $31.64. The company has a current ratio of 1.49, a quick ratio of 0.91 and a debt-to-equity ratio of 1.48.

CVR Energy (NYSE:CVI) last announced its quarterly earnings data on Monday, April 29th. The oil and gas company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.09). CVR Energy had a return on equity of 40.14% and a net margin of 7.44%. The company had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.96 billion. During the same quarter in the prior year, the company earned $1.44 EPS. The company’s revenue for the quarter was down 18.5% on a year-over-year basis. Sell-side analysts forecast that CVR Energy, Inc. will post 0.95 earnings per share for the current fiscal year.

CVR Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 20th. Stockholders of record on Monday, May 13th were paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 7.64%. The ex-dividend date of this dividend was Friday, May 10th. CVR Energy’s dividend payout ratio is currently 30.67%.

CVR Energy Company Profile

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.