CVR Energy (NYSE:CVI) Releases Earnings Results, Beats Expectations By $0.32 EPS

CVR Energy (NYSE:CVI) posted its quarterly earnings data on Monday. The oil and gas company reported ($0.58) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.90) by $0.32, Zacks reports. The firm had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.61 billion. CVR Energy had a net margin of 0.09% and a negative return on equity of 5.12%.

CVR Energy Trading Up 1.7 %

Shares of NYSE:CVI opened at $18.72 on Tuesday. The company has a debt-to-equity ratio of 2.15, a quick ratio of 0.86 and a current ratio of 1.66. CVR Energy has a 52-week low of $15.10 and a 52-week high of $33.51. The stock has a market capitalization of $1.88 billion, a price-to-earnings ratio of 312.05 and a beta of 1.26. The stock’s 50-day simple moving average is $18.79 and its two-hundred day simple moving average is $19.29.

Insider Activity at CVR Energy

In other CVR Energy news, major shareholder Carl C. Icahn acquired 206,571 shares of the company’s stock in a transaction on Monday, March 3rd. The stock was acquired at an average cost of $17.79 per share, with a total value of $3,674,898.09. Following the purchase, the insider now directly owns 67,780,774 shares of the company’s stock, valued at approximately $1,205,819,969.46. This represents a 0.31 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last ninety days, insiders purchased 1,633,853 shares of company stock worth $28,497,570. 0.01% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several brokerages recently commented on CVI. The Goldman Sachs Group dropped their price objective on shares of CVR Energy from $19.00 to $16.00 and set a “sell” rating for the company in a research note on Thursday, March 27th. StockNews.com raised shares of CVR Energy from a “sell” rating to a “hold” rating in a research note on Wednesday, February 19th. Scotiabank decreased their target price on shares of CVR Energy from $22.00 to $16.00 and set a “sector underperform” rating for the company in a research report on Friday, April 11th. Finally, Mizuho lifted their price objective on shares of CVR Energy from $20.00 to $21.00 and gave the stock a “neutral” rating in a report on Tuesday, April 1st. Five equities research analysts have rated the stock with a sell rating and three have given a hold rating to the stock. According to MarketBeat, CVR Energy presently has a consensus rating of “Reduce” and an average target price of $21.20.

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.