CVR Energy (NYSE:CVI) Stock Price Down 3.7% – Should You Sell?

CVR Energy, Inc. (NYSE:CVI) shares fell 3.7% on Friday . The stock traded as low as $20.84 and last traded at $20.83. 343,487 shares were traded 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.

Analyst Ratings Changes

A number of equities research analysts have issued reports on CVI shares. The Goldman Sachs Group decreased their target price on CVR Energy from $24.00 to $21.00 and set a “sell” rating for the company in a research report on Friday, December 6th. Scotiabank decreased their price objective on shares of CVR Energy from $25.00 to $21.00 and set a “sector underperform” rating for the company in a report on Thursday, October 10th. JPMorgan Chase & Co. dropped their target price on shares of CVR Energy from $26.00 to $23.00 and set an “underweight” rating on the stock in a report on Wednesday, October 2nd. Mizuho boosted their target price 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. Finally, StockNews.com downgraded CVR Energy from a “hold” rating to a “sell” rating in a research report on Saturday, December 14th. Six analysts have rated the stock with a sell rating and two have assigned a hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Reduce” and an average target price of $23.00.

CVR Energy Price Performance

The firm has a market cap of $2.12 billion, a P/E ratio of 30.53 and a beta of 1.58. The stock’s 50-day moving average is $18.96 and its 200-day moving average is $22.14. 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 posted its quarterly earnings results on Monday, October 28th. The oil and gas company reported ($0.50) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.41). The company had revenue of $1.83 billion during the quarter, compared to analyst estimates of $1.91 billion. CVR Energy had a return on equity of 2.88% and a net margin of 0.89%. The business’s revenue for the quarter was down 27.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.89 earnings per share. As a group, equities analysts anticipate that CVR Energy, Inc. will post -0.79 EPS for the current fiscal year.

Insider Activity at CVR Energy

In other news, major shareholder Carl C. Icahn bought 878,212 shares of CVR Energy stock in a transaction that occurred on Wednesday, January 8th. The stock was purchased at an average cost of $18.25 per share, with a total value of $16,027,369.00. Following the completion of the transaction, the insider now directly owns 67,570,593 shares in the company, valued at $1,233,163,322.25. This trade represents a 1.32 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.01% of the company’s stock.

Institutional Investors Weigh In On CVR Energy

Several institutional investors and hedge funds have recently bought and sold shares of CVI. State Street Corp lifted its holdings in shares of CVR Energy by 18.1% during the 3rd quarter. State Street Corp now owns 2,075,058 shares of the oil and gas company’s stock worth $47,789,000 after acquiring an additional 317,475 shares during the period. Dimensional Fund Advisors LP raised its stake in CVR Energy by 2.2% during the second quarter. Dimensional Fund Advisors LP now owns 2,072,334 shares of the oil and gas company’s stock worth $55,476,000 after acquiring an additional 44,636 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of CVR Energy by 14.6% during 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 purchasing an additional 81,590 shares in the last quarter. American Century Companies Inc. increased its holdings in shares of CVR Energy by 60.3% during the second quarter. American Century Companies Inc. now owns 407,819 shares of the oil and gas company’s stock worth $10,917,000 after buying an additional 153,396 shares in the last quarter. Finally, Advisors Asset Management Inc. raised its position in CVR Energy by 37.2% in the 3rd quarter. Advisors Asset Management Inc. now owns 352,075 shares of the oil and gas company’s stock valued at $8,108,000 after purchasing an additional 95,371 shares during the last quarter. Institutional investors own 98.88% of the company’s stock.

CVR Energy Company Profile

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.