CVR Energy (NYSE:CVI) Issues Quarterly Earnings Results

CVR Energy (NYSE:CVI) posted its quarterly earnings results on Monday. The oil and gas company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.30) by $0.39, Briefing.com reports. The business had revenue of $1.97 billion during the quarter, compared to analyst estimates of $1.80 billion. CVR Energy had a net margin of 6.39% and a return on equity of 24.74%. The company’s revenue was down 12.0% on a year-over-year basis. During the same period in the prior year, the business posted $1.64 earnings per share.

CVR Energy Price Performance

CVI stock opened at $28.74 on Wednesday. CVR Energy has a 1 year low of $23.93 and a 1 year high of $39.36. The company has a market cap of $2.89 billion, a P/E ratio of 4.41 and a beta of 1.54. The firm has a 50-day moving average of $26.68 and a 200 day moving average of $30.86. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.49 and a quick ratio of 0.91.

CVR Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, August 19th. Investors of record on Monday, August 12th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 6.96%. The ex-dividend date is Monday, August 12th. CVR Energy’s payout ratio is currently 30.67%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on CVI shares. Mizuho started coverage on shares of CVR Energy in a report on Wednesday, July 17th. They set a “neutral” rating and a $27.00 target price for the company. UBS Group dropped their target price on shares of CVR Energy from $37.00 to $33.75 and set a “neutral” rating for the company in a report on Tuesday, May 14th. Scotiabank dropped their target price on shares of CVR Energy from $29.00 to $24.00 and set a “sector underperform” rating for the company in a report on Friday, July 12th. StockNews.com lowered shares of CVR Energy from a “buy” rating to a “hold” rating in a report on Sunday, June 16th. Finally, JPMorgan Chase & Co. dropped their target price on shares of CVR Energy from $30.00 to $26.00 and set an “underweight” rating for the company in a report on Tuesday, July 2nd. Three investment analysts have rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $28.35.

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.