CVR Energy (NYSE:CVI) Stock Price Down 3.7% – Here’s Why

CVR Energy, Inc. (NYSE:CVI) shares fell 3.7% on Friday . The company traded as low as $20.84 and last traded at $20.83. 343,487 shares changed hands during mid-day trading, a decline of 63% from the average session volume of 933,471 shares. The stock had previously closed at $21.62.

Analysts Set New Price Targets

CVI has been the topic of several research analyst reports. JPMorgan Chase & Co. lowered their price target on CVR Energy from $26.00 to $23.00 and set an “underweight” rating on the stock in a research report on Wednesday, October 2nd. Scotiabank lowered their target price on CVR Energy from $25.00 to $21.00 and set a “sector underperform” rating on the stock in a report on Thursday, October 10th. Mizuho boosted their price target on shares of CVR Energy from $18.00 to $20.00 and gave the stock a “neutral” rating in a research report on Monday, December 16th. StockNews.com lowered shares of CVR Energy from a “hold” rating to a “sell” rating in a research report on Saturday, December 14th. Finally, The Goldman Sachs Group dropped their target price on shares of CVR Energy from $24.00 to $21.00 and set a “sell” rating on the stock in a report on Friday, December 6th. Six investment analysts have rated the stock with a sell rating and two have given a hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus target price of $23.00.

CVR Energy Stock Down 2.6 %

The business’s 50 day simple moving average is $18.96 and its 200 day simple moving average is $22.14. The company has a market capitalization of $2.12 billion, a PE ratio of 30.53 and a beta of 1.58. The company has a quick ratio of 0.86, a current ratio of 1.33 and a debt-to-equity ratio of 1.84.

CVR Energy (NYSE:CVI) last issued its quarterly earnings results on Monday, October 28th. The oil and gas company reported ($0.50) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.41). CVR Energy had a net margin of 0.89% and a return on equity of 2.88%. The firm had revenue of $1.83 billion during the quarter, compared to analysts’ expectations of $1.91 billion. During the same quarter last year, the company posted $1.89 EPS. The firm’s revenue was down 27.3% compared to the same quarter last year. As a group, analysts forecast that CVR Energy, Inc. will post -0.79 EPS for the current year.

Insider Transactions at CVR Energy

In other CVR Energy news, major shareholder Carl C. Icahn bought 878,212 shares of the company’s stock in a transaction dated Wednesday, January 8th. The shares were bought at an average price of $18.25 per share, for a total transaction of $16,027,369.00. Following the acquisition, the insider now directly owns 67,570,593 shares of the company’s stock, valued at approximately $1,233,163,322.25. This trade represents a 1.32 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.01% of the stock is currently owned by insiders.

Institutional Trading of CVR Energy

Several institutional investors have recently made changes to their positions in CVI. Charles Schwab Investment Management Inc. lifted its position in CVR Energy by 14.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 639,138 shares of the oil and gas company’s stock worth $14,719,000 after buying an additional 81,590 shares in the last quarter. Barclays PLC raised its holdings in shares of CVR Energy by 214.3% during the third quarter. Barclays PLC now owns 78,030 shares of the oil and gas company’s stock worth $1,797,000 after acquiring an additional 53,203 shares in the last quarter. Royce & Associates LP boosted its position in CVR Energy by 58.1% during the third quarter. Royce & Associates LP now owns 101,043 shares of the oil and gas company’s stock valued at $2,327,000 after purchasing an additional 37,130 shares during the last quarter. State Street Corp boosted its position in CVR Energy by 18.1% during the third quarter. State Street Corp now owns 2,075,058 shares of the oil and gas company’s stock valued at $47,789,000 after purchasing an additional 317,475 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC acquired a new position in CVR Energy in the 3rd quarter worth about $5,335,000. 98.88% of the stock is currently owned by institutional investors and hedge funds.

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.