CVR Energy (NYSE:CVI) Hits New 12-Month Low – Here’s Why

CVR Energy, Inc. (NYSE:CVI) reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $15.10 and last traded at $15.21, with a volume of 169837 shares trading hands. The stock had previously closed at $16.06.

Wall Street Analyst Weigh In

A number of research firms have recently commented on CVI. StockNews.com upgraded CVR Energy from a “sell” rating to a “hold” rating in a research report on Wednesday, February 19th. Mizuho lifted their price target on CVR Energy from $20.00 to $21.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 1st. Finally, The Goldman Sachs Group reduced their price objective on CVR Energy from $19.00 to $16.00 and set a “sell” rating for the company in a research note on Thursday, March 27th. Five analysts have rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Reduce” and an average price target of $22.20.

CVR Energy Trading Up 1.2 %

The company has a debt-to-equity ratio of 2.15, a quick ratio of 0.86 and a current ratio of 1.66. The stock has a market capitalization of $1.63 billion, a PE ratio of 270.98 and a beta of 1.26. The business’s 50-day moving average is $19.27 and its two-hundred day moving average is $20.02.

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

Insiders Place Their Bets

In related news, major shareholder Carl C. Icahn bought 878,212 shares of the firm’s stock in a transaction on Wednesday, January 8th. The shares were bought at an average cost of $18.25 per share, for a total transaction of $16,027,369.00. Following the transaction, the insider now 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 purchase was disclosed in a legal filing with the SEC, which is available through this link. In the last 90 days, insiders have acquired 1,492,540 shares of company stock worth $27,049,928. Company insiders own 0.01% of the company’s stock.

Institutional Trading of CVR Energy

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. lifted 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 valued at $14,719,000 after acquiring an additional 81,590 shares during the period. FMR LLC raised its holdings in CVR Energy by 103.4% during the third quarter. FMR LLC now owns 4,031 shares of the oil and gas company’s stock worth $93,000 after purchasing an additional 2,049 shares during the last quarter. Townsquare Capital LLC purchased a new stake in CVR Energy during the third quarter worth $221,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in CVR Energy by 18.5% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 59,247 shares of the oil and gas company’s stock valued at $1,364,000 after purchasing an additional 9,247 shares during the last quarter. Finally, Verition Fund Management LLC purchased a new position in shares of CVR Energy in the third quarter valued at $545,000. 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.