CVR Energy (NYSE:CVI) Shares Gap Up – Should You Buy?

Shares of CVR Energy, Inc. (NYSE:CVI) gapped up prior to trading on Wednesday . The stock had previously closed at $18.49, but opened at $20.71. CVR Energy shares last traded at $21.79, with a volume of 326,047 shares changing hands.

Analyst Ratings Changes

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

CVR Energy Stock Up 0.7 %

The company has a debt-to-equity ratio of 1.84, a quick ratio of 0.86 and a current ratio of 1.33. The company has a market capitalization of $2.04 billion, a PE ratio of 338.97 and a beta of 1.57. The firm’s 50-day simple moving average is $19.19 and its 200 day simple moving average is $21.12.

CVR Energy (NYSE:CVI) last announced its quarterly earnings data 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). CVR Energy had a net margin of 0.09% and a negative return on equity of 4.99%. The company had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.85 billion. As a group, equities research analysts forecast that CVR Energy, Inc. will post -0.12 earnings per share for the current year.

Insider Transactions at CVR Energy

In other news, major shareholder Carl C. Icahn purchased 878,212 shares of the business’s stock in a transaction dated Wednesday, January 8th. The stock was acquired at an average price of $18.25 per share, with a total value of $16,027,369.00. Following the purchase, the insider now directly owns 67,570,593 shares of the company’s stock, valued at $1,233,163,322.25. This represents a 1.32 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.01% of the company’s stock.

Hedge Funds Weigh In On CVR Energy

Several hedge funds have recently added to or reduced their stakes in the business. GF Fund Management CO. LTD. acquired a new stake in shares of CVR Energy in the fourth quarter valued at approximately $198,000. GTS Securities LLC purchased a new stake in CVR Energy in the 4th quarter valued at approximately $197,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in CVR Energy by 1.7% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 60,282 shares of the oil and gas company’s stock valued at $1,130,000 after buying an additional 1,035 shares during the last quarter. Two Sigma Investments LP increased its position in CVR Energy by 56.2% during the fourth quarter. Two Sigma Investments LP now owns 750,195 shares of the oil and gas company’s stock worth $14,059,000 after buying an additional 269,763 shares in the last quarter. Finally, Thomist Capital Management LP acquired a new position in shares of CVR Energy in the fourth quarter worth $781,000. 98.88% of the stock is currently owned by hedge funds and other institutional investors.

About CVR Energy

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.