CVR Energy (NYSE:CVI) Issues Earnings Results, Beats Expectations By $0.08 EPS

CVR Energy (NYSE:CVI) issued its earnings results on Wednesday. The oil and gas company reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.08, FiscalAI reports. The business had revenue of $2.74 billion for the quarter, compared to the consensus estimate of $2.22 billion. CVR Energy had a net margin of 0.81% and a negative return on equity of 14.58%. The company’s revenue for the quarter was up 55.5% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.23) EPS.

CVR Energy Stock Performance

Shares of CVI traded down $1.75 during trading hours on Friday, reaching $36.33. 329,798 shares of the company traded hands, compared to its average volume of 1,186,013. The company has a quick ratio of 0.89, a current ratio of 1.44 and a debt-to-equity ratio of 2.41. The business has a fifty day moving average price of $31.49 and a 200-day moving average price of $29.43. CVR Energy has a 12-month low of $19.62 and a 12-month high of $41.67. The stock has a market capitalization of $3.65 billion, a P/E ratio of 53.43 and a beta of 0.83.

CVR Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 17th. Stockholders of record on Monday, August 10th will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Monday, August 10th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.1%. CVR Energy’s payout ratio is 58.82%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. The Goldman Sachs Group started coverage on CVR Energy in a research report on Friday, April 10th. They set a “sell” rating and a $30.00 target price for the company. UBS Group reissued a “neutral” rating and set a $35.00 price objective on shares of CVR Energy in a report on Monday, June 29th. Weiss Ratings lowered CVR Energy from a “sell (d+)” rating to a “sell (d-)” rating in a report on Friday, May 15th. Tudor Pickering cut CVR Energy from a “hold” rating to a “sell” rating in a research report on Thursday, June 4th. Finally, Wall Street Zen upgraded CVR Energy from a “sell” rating to a “hold” rating in a report on Saturday, May 2nd. Two equities research analysts have rated the stock with a Hold rating and six have assigned a Sell rating to the stock. According to data from MarketBeat, CVR Energy currently has a consensus rating of “Strong Sell” and a consensus price target of $30.25.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Quarry LP purchased a new stake in CVR Energy in the third quarter valued at approximately $50,000. Aster Capital Management DIFC Ltd purchased a new stake in shares of CVR Energy in the 4th quarter valued at $40,000. Raymond James Financial Inc. acquired a new stake in shares of CVR Energy in the second quarter worth $53,000. BNP Paribas Financial Markets raised its holdings in shares of CVR Energy by 48.0% during the second quarter. BNP Paribas Financial Markets now owns 3,633 shares of the oil and gas company’s stock worth $98,000 after purchasing an additional 1,178 shares during the last quarter. Finally, Quantbot Technologies LP purchased a new position in shares of CVR Energy during the second quarter worth $114,000. 98.88% of the stock is currently owned by hedge funds and other institutional investors.

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.