CVR Energy (NYSE:CVI) Stock Price Up 7.2% – Should You Buy?

CVR Energy Inc. (NYSE:CVI)’s stock price shot up 7.2% during trading on Tuesday . The stock traded as high as $34.87 and last traded at $34.78. 469,030 shares changed hands during mid-day trading, a decline of 68% from the average session volume of 1,450,294 shares. The stock had previously closed at $32.45.

Analyst Upgrades and Downgrades

CVI has been the subject of a number of recent analyst reports. Mizuho boosted their price target on shares of CVR Energy from $28.00 to $32.00 and gave the company an “underperform” rating in a research report on Tuesday, March 17th. Wall Street Zen raised CVR Energy from a “sell” rating to a “hold” rating in a research note on Saturday. Weiss Ratings cut CVR Energy from a “hold (c)” rating to a “sell (d)” rating in a research report on Friday, February 20th. Finally, The Goldman Sachs Group upped their target price on CVR Energy from $22.00 to $25.00 and gave the stock a “sell” rating in a research note on Thursday, March 12th. One research analyst has rated the stock with a Hold rating and five have given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Strong Sell” and a consensus price target of $30.00.

CVR Energy Price Performance

The company has a market capitalization of $3.34 billion, a PE ratio of 128.19 and a beta of 1.12. The firm has a fifty day moving average of $24.87 and a two-hundred day moving average of $30.15. The company has a current ratio of 1.79, a quick ratio of 1.13 and a debt-to-equity ratio of 1.95.

CVR Energy (NYSE:CVI) last announced its quarterly earnings results on Wednesday, February 18th. The oil and gas company reported ($0.80) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.84) by $0.04. The business had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.70 billion. CVR Energy had a net margin of 0.38% and a negative return on equity of 14.31%. The company’s revenue was down 7.0% on a year-over-year basis. During the same quarter last year, the firm earned ($0.13) EPS. Research analysts anticipate that CVR Energy Inc. will post -0.12 EPS for the current fiscal year.

CVR Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 9th. Shareholders of record on Monday, March 2nd were issued a $0.37 dividend. The ex-dividend date was Monday, March 2nd. This represents a $1.48 annualized dividend and a yield of 4.4%. CVR Energy’s dividend payout ratio (DPR) is 569.23%.

Insider Buying and Selling at CVR Energy

In other CVR Energy news, major shareholder Carl C. Icahn bought 275,012 shares of CVR Energy stock in a transaction dated Tuesday, February 24th. The shares were purchased at an average cost of $21.41 per share, with a total value of $5,888,006.92. Following the completion of the purchase, the insider owned 71,201,875 shares of the company’s stock, valued at approximately $1,524,432,143.75. This represents a 0.39% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In the last 90 days, insiders purchased 783,404 shares of company stock valued at $16,445,044. 0.01% of the stock is currently owned by company insiders.

Institutional Trading of CVR Energy

Large investors have recently added to or reduced their stakes in the stock. Neo Ivy Capital Management increased its position in CVR Energy by 165.4% during the 3rd quarter. Neo Ivy Capital Management now owns 65,340 shares of the oil and gas company’s stock valued at $2,384,000 after purchasing an additional 40,721 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of CVR Energy by 38.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 380,127 shares of the oil and gas company’s stock valued at $13,867,000 after purchasing an additional 106,350 shares in the last quarter. Bayforest Capital Ltd purchased a new position in shares of CVR Energy during the third quarter valued at about $1,057,000. Allianz Asset Management GmbH raised its stake in CVR Energy by 69.3% in the third quarter. Allianz Asset Management GmbH now owns 458,214 shares of the oil and gas company’s stock worth $16,716,000 after buying an additional 187,620 shares in the last quarter. Finally, Citigroup Inc. lifted its holdings in CVR Energy by 95.6% in the third quarter. Citigroup Inc. now owns 391,985 shares of the oil and gas company’s stock worth $14,300,000 after buying an additional 191,584 shares during the period. Institutional investors own 98.88% of the company’s stock.

CVR Energy Company Profile

CVR Energy, Inc is an independent downstream energy company engaged primarily in petroleum refining and nitrogen fertilizer production in the United States. Headquartered in Sugar Land, Texas, CVR Energy operates through two reportable segments—Petroleum Products and Nitrogen Fertilizers—leveraging its refining expertise and distribution network to serve both wholesale and retail markets across key regions in the U.S.

In its Petroleum Products segment, the company owns and operates the Coffeyville, Kansas refinery, which has the capability to process various grades of crude oil into gasoline, diesel, jet fuel and other refined products.