CVR Energy, Inc. (NYSE:CVI – Get Free Report)’s share price reached a new 52-week low during trading on Wednesday after JPMorgan Chase & Co. lowered their price target on the stock from $30.00 to $26.00. JPMorgan Chase & Co. currently has an underweight rating on the stock. CVR Energy traded as low as $25.99 and last traded at $26.19, with a volume of 23333 shares traded. The stock had previously closed at $26.21.
Several other analysts also recently weighed in on CVI. Scotiabank lifted their price objective on shares of CVR Energy from $25.00 to $29.00 and gave the company a “sector underperform” rating in a research report on Thursday, April 11th. UBS Group cut their price target on CVR Energy from $37.00 to $33.75 and set a “neutral” rating on the stock in a report on Tuesday, May 14th. Finally, StockNews.com lowered CVR Energy from a “buy” rating to a “hold” rating in a report on Sunday, June 16th. Three equities research 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 company currently has an average rating of “Reduce” and an average target price of $29.94.
Institutional Investors Weigh In On CVR Energy
Institutional investors have recently bought and sold shares of the stock. Janus Henderson Group PLC raised its position in shares of CVR Energy by 67.3% during the 1st quarter. Janus Henderson Group PLC now owns 23,892 shares of the oil and gas company’s stock worth $852,000 after buying an additional 9,607 shares in the last quarter. Caxton Associates LP bought a new stake in CVR Energy during the first quarter worth approximately $1,145,000. Price T Rowe Associates Inc. MD raised its holdings in CVR Energy by 4.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 21,485 shares of the oil and gas company’s stock worth $767,000 after purchasing an additional 990 shares in the last quarter. Advisors Asset Management Inc. boosted its stake in CVR Energy by 62.1% during the 1st quarter. Advisors Asset Management Inc. now owns 186,428 shares of the oil and gas company’s stock valued at $6,648,000 after purchasing an additional 71,390 shares in the last quarter. Finally, UniSuper Management Pty Ltd bought a new stake in shares of CVR Energy in the 1st quarter worth $333,000. Institutional investors and hedge funds own 98.88% of the company’s stock.
CVR Energy Stock Performance
The company has a fifty day moving average price of $28.53 and a two-hundred day moving average price of $31.64. The firm has a market cap of $2.67 billion, a price-to-earnings ratio of 4.02 and a beta of 1.54. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.49 and a quick ratio of 0.91.
CVR Energy (NYSE:CVI – Get Free Report) last issued its quarterly earnings results on Monday, April 29th. The oil and gas company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.09). The business had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.96 billion. CVR Energy had a net margin of 7.44% and a return on equity of 40.14%. CVR Energy’s revenue was down 18.5% compared to the same quarter last year. During the same period in the previous year, the company posted $1.44 earnings per share. As a group, equities research analysts expect that CVR Energy, Inc. will post 0.95 EPS for the current year.
CVR Energy Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Monday, May 20th. Investors of record on Monday, May 13th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 7.52%. The ex-dividend date of this dividend was Friday, May 10th. CVR Energy’s payout ratio is 30.67%.
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.