CVR Energy (NYSE:CVI) Posts Earnings Results, Misses Estimates By $0.12 EPS

CVR Energy (NYSE:CVI) issued its earnings results on Tuesday. The oil and gas company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.12), Zacks reports. The firm had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.85 billion. CVR Energy had a negative return on equity of 4.99% and a net margin of 0.09%.

CVR Energy Stock Up 7.5 %

NYSE:CVI opened at $19.88 on Thursday. The company has a market cap of $2.00 billion, a price-to-earnings ratio of 331.32 and a beta of 1.57. CVR Energy has a twelve month low of $15.60 and a twelve month high of $38.07. The company has a current ratio of 1.33, a quick ratio of 0.86 and a debt-to-equity ratio of 1.84. The stock has a fifty day simple moving average of $19.16 and a 200-day simple moving average of $21.13.

Insider Transactions at CVR Energy

In other news, major shareholder Carl C. Icahn purchased 878,212 shares of the stock in a transaction that occurred on Wednesday, January 8th. The stock was purchased at an average price of $18.25 per share, for a total transaction of $16,027,369.00. Following the completion of the acquisition, 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 transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 0.01% of the company’s stock.

Analysts Set New Price Targets

CVI has been the topic of several analyst reports. StockNews.com raised CVR Energy from a “sell” rating to a “hold” rating in a research note on Wednesday. The Goldman Sachs Group cut their price objective on shares of CVR Energy from $24.00 to $21.00 and set a “sell” rating on the stock in a research report on Friday, December 6th. Finally, Mizuho raised their target price on shares of CVR Energy from $18.00 to $20.00 and gave the stock a “neutral” rating in a report on Monday, December 16th. Five research analysts have rated the stock with a sell rating and three have given a hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus price target of $23.00.

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.