CVR Energy (NYSE:CVI) Shares Up 4.6% – Should You Buy?

CVR Energy Inc. (NYSE:CVI)’s stock price traded up 4.6% during trading on Tuesday. The company traded as high as $61.40 and last traded at $61.62. Approximately 94,856 shares were traded during trading, a decline of 92% from the average daily volume of 1,145,664 shares. The stock had previously closed at $58.91.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Wall Street Zen upgraded CVR Energy from a “buy” rating to a “strong-buy” rating in a research report on Saturday, October 10th. Zacks Research raised CVR Energy from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 4th. UBS Group boosted their price objective on CVR Energy from $35.00 to $53.00 and gave the company a “neutral” rating in a research report on Friday, October 2nd. The Goldman Sachs Group upped their price objective on shares of CVR Energy from $36.00 to $50.00 and gave the stock a “sell” rating in a research report on Friday, October 9th. Finally, Weiss Ratings raised CVR Energy from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, October 8th. Four investment analysts have rated the stock with a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat.com, CVR Energy has a consensus rating of “Reduce” and an average target price of $45.75.

CVR Energy Trading Down 2.1%

The company has a market cap of $6.21 billion, a PE ratio of 90.88 and a beta of 0.90. The company’s 50 day simple moving average is $46.52 and its two-hundred day simple moving average is $37.13. The company has a debt-to-equity ratio of 2.38, a current ratio of 1.42 and a quick ratio of 0.92.

CVR Energy (NYSE:CVI) last released its quarterly earnings results on Wednesday, July 29th. The oil and gas company reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.08. CVR Energy had a net margin of 0.81% and a negative return on equity of 15.21%. The business had revenue of $2.74 billion for the quarter, compared to the consensus estimate of $2.22 billion. During the same period in the previous year, the firm earned ($0.23) EPS. The business’s revenue was up 55.5% on a year-over-year basis. As a group, sell-side analysts anticipate that CVR Energy Inc. will post 1.56 EPS for the current fiscal year.

CVR Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 17th. Investors of record on Monday, August 10th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.6%. The ex-dividend date was Monday, August 10th. CVR Energy’s dividend payout ratio (DPR) is 58.82%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in CVR Energy in the 2nd quarter valued at approximately $143,262,000. PDT Partners LLC purchased a new stake in shares of CVR Energy during the second quarter worth $14,502,000. Dimensional Fund Advisors LP increased its position in shares of CVR Energy by 16.1% during the first quarter. Dimensional Fund Advisors LP now owns 1,908,062 shares of the oil and gas company’s stock worth $64,220,000 after acquiring an additional 265,013 shares during the period. First Trust Advisors LP increased its position in shares of CVR Energy by 687.6% during the first quarter. First Trust Advisors LP now owns 263,448 shares of the oil and gas company’s stock worth $8,865,000 after acquiring an additional 229,998 shares during the period. Finally, State Street Corp raised its stake in shares of CVR Energy by 11.0% in the second quarter. State Street Corp now owns 2,153,498 shares of the oil and gas company’s stock valued at $59,315,000 after acquiring an additional 213,829 shares in the last quarter. 98.88% of the stock is currently owned by institutional investors and hedge funds.

About CVR Energy

CVR Energy, Inc is a diversified energy company engaged primarily in petroleum refining and nitrogen fertilizer production. Headquartered in Sugar Land, Texas, the company operates through subsidiaries that serve customers in the United States, with activities concentrated in the Midcontinent region.

Through its refining operations, CVR Energy processes crude oil into transportation fuels and other refined products, including gasoline, diesel fuel, jet fuel and asphalt. Its refineries are located in Coffeyville, Kansas, and Wynnewood, Oklahoma, and are supported by related logistics, storage and transportation assets.

CVR Energy also owns and operates nitrogen fertilizer facilities through CVR Partners, LP.