CVR Energy (NYSE:CVI) Stock Jumps 6.4% – What’s Next?

Shares of CVR Energy Inc. (NYSE:CVI) rose 6.4% during trading on Monday. The company traded as high as $61.56 and last traded at $61.86. Approximately 61,283 shares changed hands during mid-day trading, a decline of 95% from the average session volume of 1,126,974 shares. The stock had previously closed at $58.16.

Analyst Ratings Changes

A number of research firms have recently weighed in on CVI. The Goldman Sachs Group raised their price target on shares of CVR Energy from $36.00 to $50.00 and gave the company a “sell” rating in a research note on Friday, October 9th. Mizuho upped their price objective on shares of CVR Energy from $29.00 to $52.00 and gave the stock an “underperform” rating in a research report on Thursday, October 8th. Weiss Ratings raised shares of CVR Energy from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, October 8th. Zacks Research upgraded shares of CVR Energy from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 16th. Finally, UBS Group boosted their target price on shares of CVR Energy from $35.00 to $53.00 and gave the stock a “neutral” rating in a research note on Friday, October 2nd. One research analyst has rated the stock with a Strong Buy rating, three have issued a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Reduce” and an average price target of $45.75.

CVR Energy Stock Performance

The business’s fifty day moving average is $51.05 and its 200-day moving average is $35.08. The firm has a market cap of $5.76 billion, a P/E ratio of 84.31 and a beta of 0.90.

CVR Energy (NYSE:CVI) last released its quarterly earnings results on Wednesday, July 29th. The oil and gas company reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.08. The business had revenue of $2.74 billion for the quarter, compared to the consensus estimate of $2.22 billion. During the same period in the previous year, the business posted ($0.23) EPS. CVR Energy’s revenue was up 55.5% on a year-over-year basis. Analysts predict that CVR Energy Inc. will post 4.20 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of CVI. Sterling Capital Management LLC increased its stake in shares of CVR Energy by 851.4% in the third quarter. Sterling Capital Management LLC now owns 999 shares of the oil and gas company’s stock valued at $51,000 after buying an additional 894 shares during the period. Nykredit A S acquired a new position in shares of CVR Energy in the second quarter worth approximately $29,000. EverSource Wealth Advisors LLC boosted its holdings in CVR Energy by 44.4% in 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. boosted its holdings in CVR Energy by 51.5% in 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. Finally, Farther Finance Advisors LLC increased its position in CVR Energy by 197.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,153 shares of the oil and gas company’s stock valued at $59,000 after purchasing an additional 765 shares during the period. 98.88% of the stock is owned by institutional investors and hedge funds.

About CVR Energy

CVR Energy, Inc (NYSE:CVI) is a diversified energy company engaged primarily in petroleum refining and nitrogen fertilizer production. Through its refining operations, the company processes crude oil into transportation fuels and other refined products, including gasoline, diesel fuel, jet fuel and asphalt.

CVR Energy operates refineries in Coffeyville, Kansas, and Wynnewood, Oklahoma. The facilities primarily serve customers in the Midcontinent region of the United States and are supported by related logistics and distribution assets.