CVR Energy (NYSE:CVI) Stock Price Up 3.9% – What’s Next?

CVR Energy, Inc. (NYSE:CVI) shares shot up 3.9% on Wednesday . The company traded as high as $20.72 and last traded at $20.81. 31,712 shares traded hands during mid-day trading, a decline of 97% from the average session volume of 1,183,663 shares. The stock had previously closed at $20.03.

Wall Street Analyst Weigh In

Several analysts recently commented on CVI shares. The Goldman Sachs Group decreased their price target on shares of CVR Energy from $19.00 to $16.00 and set a “sell” rating for the company in a report on Thursday. Mizuho lifted their target price on shares of CVR Energy from $18.00 to $20.00 and gave the company a “neutral” rating in a research note on Monday, December 16th. Finally, StockNews.com raised shares of CVR Energy from a “sell” rating to a “hold” rating in a research note on Wednesday, February 19th. Five equities research analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. According to MarketBeat.com, CVR Energy presently has an average rating of “Reduce” and an average price target of $22.00.

CVR Energy Price Performance

The company’s 50-day simple moving average is $19.55 and its 200 day simple moving average is $20.19. The company has a market capitalization of $2.02 billion, a P/E ratio of 335.36 and a beta of 1.55. The company has a quick ratio of 0.86, a current ratio of 1.66 and a debt-to-equity ratio of 2.15.

CVR Energy (NYSE:CVI) last issued its quarterly earnings data on Tuesday, February 18th. The oil and gas company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.12). CVR Energy had a negative return on equity of 5.12% and a net margin of 0.09%. The business had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.85 billion. As a group, sell-side analysts expect that CVR Energy, Inc. will post -0.12 earnings per share for the current fiscal year.

Insider Activity

In other CVR Energy news, major shareholder Carl C. Icahn purchased 3,610 shares of the business’s stock in a transaction dated Friday, February 28th. The stock was bought at an average cost of $18.24 per share, for a total transaction of $65,846.40. Following the completion of the acquisition, the insider now directly owns 67,574,203 shares in the company, valued at $1,232,553,462.72. This represents a 0.01 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In the last quarter, insiders have purchased 1,492,540 shares of company stock valued at $27,049,928. Insiders own 0.01% of the company’s stock.

Institutional Investors Weigh In On CVR Energy

Several hedge funds and other institutional investors have recently modified their holdings of CVI. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in CVR Energy by 3.6% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,443 shares of the oil and gas company’s stock valued at $364,000 after purchasing an additional 683 shares during the period. PNC Financial Services Group Inc. raised its position in shares of CVR Energy by 55.3% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,052 shares of the oil and gas company’s stock valued at $38,000 after buying an additional 731 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of CVR Energy by 1.7% in the fourth 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 period. IHT Wealth Management LLC lifted its stake in shares of CVR Energy by 14.3% in the fourth quarter. IHT Wealth Management LLC now owns 10,176 shares of the oil and gas company’s stock valued at $191,000 after buying an additional 1,275 shares during the period. Finally, New York State Teachers Retirement System grew its position in CVR Energy by 11.3% during the fourth quarter. New York State Teachers Retirement System now owns 13,812 shares of the oil and gas company’s stock worth $259,000 after buying an additional 1,400 shares in the last quarter. Institutional investors and hedge funds own 98.88% of the company’s stock.

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.