CVR Energy (NYSE:CVI) Shares Down 5.7% Following Analyst Downgrade

CVR Energy Inc. (NYSE:CVI) shares were down 5.7% during trading on Thursday after Tudor Pickering downgraded the stock from a hold rating to a sell rating. The company traded as low as $33.50 and last traded at $33.4930. Approximately 288,494 shares traded hands during mid-day trading, a decline of 77% from the average daily volume of 1,240,128 shares. The stock had previously closed at $35.51.

A number of other analysts also recently commented on the company. Wall Street Zen upgraded CVR Energy from a “sell” rating to a “hold” rating in a research note on Saturday, May 2nd. Weiss Ratings cut CVR Energy from a “sell (d+)” rating to a “sell (d-)” rating in a report on Friday, May 15th. Raymond James Financial raised CVR Energy from an “underperform” rating to a “market perform” rating in a report on Wednesday, March 25th. The Goldman Sachs Group began coverage on CVR Energy in a report on Friday, April 10th. They issued a “sell” rating and a $30.00 price target for the company. Finally, Scotiabank upped their price target on CVR Energy from $25.00 to $28.00 and gave the stock a “sector underperform” rating in a report on Wednesday, April 22nd. Two analysts have rated the stock with a Hold rating and five have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Strong Sell” and a consensus price target of $32.50.

Hedge Funds Weigh In On CVR Energy

A number of large investors have recently bought and sold shares of the business. EverSource Wealth Advisors LLC raised its holdings in shares of CVR Energy by 44.4% during the first quarter. EverSource Wealth Advisors LLC now owns 1,102 shares of the oil and gas company’s stock valued at $37,000 after acquiring an additional 339 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of CVR Energy by 51.5% during the first quarter. PNC Financial Services Group Inc. now owns 1,142 shares of the oil and gas company’s stock valued at $38,000 after acquiring an additional 388 shares during the last quarter. Aster Capital Management DIFC Ltd acquired a new position in shares of CVR Energy during the fourth quarter valued at approximately $40,000. Exchange Traded Concepts LLC acquired a new position in shares of CVR Energy during the fourth quarter valued at approximately $47,000. Finally, Horizon Investments LLC acquired a new position in shares of CVR Energy during the fourth quarter valued at approximately $47,000. Institutional investors and hedge funds own 98.88% of the company’s stock.

CVR Energy Stock Down 5.7%

The business has a fifty day simple moving average of $32.82 and a 200 day simple moving average of $29.22. The firm has a market cap of $3.37 billion, a price-to-earnings ratio of -78.01 and a beta of 0.80. The company has a debt-to-equity ratio of 2.41, a current ratio of 1.44 and a quick ratio of 0.89.

CVR Energy (NYSE:CVI) last announced its earnings results on Wednesday, April 29th. The oil and gas company reported ($1.24) EPS for the quarter, missing analysts’ consensus estimates of ($0.54) by ($0.70). CVR Energy had a negative net margin of 0.56% and a negative return on equity of 22.36%. The firm had revenue of $1.98 billion for the quarter, compared to analyst estimates of $1.73 billion. During the same period in the previous year, the company earned ($0.58) EPS. CVR Energy’s revenue was up 20.3% compared to the same quarter last year. As a group, equities analysts forecast that CVR Energy Inc. will post 1.04 EPS for the current fiscal year.

CVR Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, May 18th. Shareholders of record on Monday, May 11th were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Monday, May 11th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.2%. CVR Energy’s dividend payout ratio is presently -93.02%.

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.