CVR Energy (NYSE:CVI) Shares Down 8.9%

CVR Energy, Inc. (NYSE:CVIGet Rating)’s share price fell 8.9% during mid-day trading on Friday . The company traded as low as $26.14 and last traded at $26.52. 5,638 shares traded hands during trading, a decline of 99% from the average session volume of 792,315 shares. The stock had previously closed at $29.12.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CVI. Credit Suisse Group boosted their target price on CVR Energy to $40.00 in a research report on Thursday, June 9th. TheStreet raised CVR Energy from a “c+” rating to a “b-” rating in a research report on Thursday, July 21st. Finally, Wolfe Research lowered CVR Energy from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, September 14th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company’s stock. According to, CVR Energy has a consensus rating of “Hold” and an average target price of $26.40.

CVR Energy Stock Down 8.5 %

The stock has a market capitalization of $2.68 billion, a price-to-earnings ratio of 8.10 and a beta of 1.44. The company has a quick ratio of 0.82, a current ratio of 1.25 and a debt-to-equity ratio of 1.50. The firm has a 50-day moving average of $32.11 and a two-hundred day moving average of $30.74.

CVR Energy (NYSE:CVIGet Rating) last posted its quarterly earnings results on Monday, August 1st. The oil and gas company reported $2.45 earnings per share for the quarter, beating the consensus estimate of $2.10 by $0.35. The firm had revenue of $3.14 billion for the quarter, compared to analyst estimates of $2.30 billion. CVR Energy had a return on equity of 23.67% and a net margin of 3.46%. During the same period in the previous year, the firm earned ($0.32) earnings per share. As a group, sell-side analysts anticipate that CVR Energy, Inc. will post 5.35 earnings per share for the current year.

CVR Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 22nd. Shareholders of record on Friday, August 12th were given a $3.00 dividend. This is a positive change from CVR Energy’s previous quarterly dividend of $0.40. This represents a $12.00 annualized dividend and a yield of 45.03%. The ex-dividend date of this dividend was Thursday, August 11th. CVR Energy’s dividend payout ratio is presently 49.08%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of CVI. Exchange Traded Concepts LLC acquired a new position in CVR Energy in the 1st quarter worth about $36,000. Robeco Institutional Asset Management B.V. acquired a new position in CVR Energy in the 2nd quarter worth about $56,000. Mitsubishi UFJ Trust & Banking Corp acquired a new position in CVR Energy in the 1st quarter worth about $79,000. Amalgamated Bank acquired a new position in CVR Energy in the 1st quarter worth about $91,000. Finally, Great West Life Assurance Co. Can increased its position in CVR Energy by 28.0% in the 1st quarter. Great West Life Assurance Co. Can now owns 3,752 shares of the oil and gas company’s stock worth $102,000 after purchasing an additional 821 shares during the last quarter. 97.24% of the stock is owned by institutional investors and hedge funds.

About CVR Energy

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CVR Energy, Inc, together with its subsidiaries, engages in the petroleum refining and nitrogen fertilizer manufacturing activities in the United States. It operates in two segments, Petroleum and Nitrogen Fertilizer. The Petroleum segment refines and markets gasoline, diesel fuel, and other refined products.

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