CVR Energy (NYSE:CVI) Trading Down 2.3% – Should You Sell?

CVR Energy, Inc. (NYSE:CVI)’s share price dropped 2.3% during mid-day trading on Monday . The company traded as low as $21.00 and last traded at $20.72. Approximately 23,695 shares changed hands during trading, a decline of 98% from the average daily volume of 1,183,822 shares. The stock had previously closed at $21.20.

Analyst Upgrades and Downgrades

CVI has been the topic of a number of research analyst reports. StockNews.com upgraded CVR Energy from a “sell” rating to a “hold” rating in a research report on Wednesday, February 19th. Mizuho increased their price objective on shares of CVR Energy from $18.00 to $20.00 and gave the stock a “neutral” rating in a report on Monday, December 16th. Finally, The Goldman Sachs Group lowered their target price on CVR Energy from $24.00 to $21.00 and set a “sell” rating for the company in a research note on Friday, December 6th. Five investment analysts have rated the stock with a sell rating and three have issued a hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus target price of $23.00.

CVR Energy Stock Down 3.0 %

The stock’s fifty day moving average price is $19.61 and its 200-day moving average price is $20.25. The company has a market capitalization of $2.07 billion, a price-to-earnings ratio of 342.72 and a beta of 1.55. The company has a quick ratio of 0.86, a current ratio of 1.66 and a debt-to-equity ratio of 2.15.

CVR Energy (NYSE:CVI) last issued its quarterly earnings results on Tuesday, February 18th. The oil and gas company reported ($0.13) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.12). The company had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.85 billion. CVR Energy had a net margin of 0.09% and a negative return on equity of 5.12%. On average, sell-side analysts predict that CVR Energy, Inc. will post -0.12 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other CVR Energy news, major shareholder Carl C. Icahn bought 3,610 shares of the firm’s stock in a transaction that occurred on Friday, February 28th. The shares were acquired at an average cost of $18.24 per share, with a total value of $65,846.40. Following the acquisition, the insider now owns 67,574,203 shares of the company’s stock, valued at $1,232,553,462.72. The trade was a 0.01 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last three months, insiders have bought 1,492,540 shares of company stock valued at $27,049,928. 0.01% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On CVR Energy

Several large investors have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. grew its position in shares of CVR Energy by 14.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 639,138 shares of the oil and gas company’s stock valued at $14,719,000 after purchasing an additional 81,590 shares during the last quarter. Barclays PLC boosted its position 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 valued at $1,797,000 after acquiring an additional 53,203 shares during the period. State Street Corp grew 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 valued at $47,789,000 after acquiring an additional 317,475 shares in the last quarter. Hotchkis & Wiley Capital Management LLC bought a new position in CVR Energy during the third quarter worth about $5,335,000. Finally, D.A. Davidson & CO. acquired a new stake in shares of CVR Energy in the fourth quarter valued at approximately $736,000. 98.88% of the stock is owned by institutional investors.

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.