CVR Energy (NYSE:CVI) Stock Price Crosses Above 200 Day Moving Average – Here’s Why

Shares of CVR Energy Inc. (NYSE:CVI) passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $30.29 and traded as high as $36.87. CVR Energy shares last traded at $36.40, with a volume of 664,939 shares.

Analyst Ratings Changes

Several equities analysts have recently commented on CVI shares. Zacks Research upgraded CVR Energy from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 4th. Weiss Ratings reissued a “sell (d-)” rating on shares of CVR Energy in a research note on Wednesday, August 12th. Scotiabank boosted their price target on CVR Energy from $25.00 to $28.00 and gave the stock a “sector underperform” rating in a report on Wednesday, April 22nd. Wall Street Zen upgraded CVR Energy from a “hold” rating to a “buy” rating in a research note on Saturday, August 1st. Finally, Tudor Pickering lowered shares of CVR Energy from a “hold” rating to a “sell” rating in a report on Thursday, June 4th. Three investment analysts have rated the stock with a Hold rating and five have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Strong Sell” and a consensus target price of $30.50.

CVR Energy Stock Performance

The business has a 50 day moving average of $31.63 and a 200 day moving average of $30.40. The company has a market capitalization of $3.68 billion, a P/E ratio of 53.79 and a beta of 0.83. The company has a quick ratio of 0.92, a current ratio of 1.42 and a debt-to-equity ratio of 2.38.

CVR Energy (NYSE:CVI) last posted its earnings results on Wednesday, July 29th. The oil and gas company reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.08. CVR Energy had a negative return on equity of 15.21% and a net margin of 0.81%.The firm had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $2.22 billion. During the same period in the prior year, the company earned ($0.23) EPS. The company’s quarterly revenue was up 55.5% compared to the same quarter last year. On average, sell-side analysts predict that CVR Energy Inc. will post 0.79 earnings per share for the current year.

CVR Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 17th. Shareholders of record on Monday, August 10th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend was Monday, August 10th. CVR Energy’s dividend payout ratio (DPR) is presently 58.82%.

Institutional Trading of CVR Energy

Several hedge funds have recently made changes to their positions in the business. BlackRock Inc. purchased a new position in shares of CVR Energy in the 2nd quarter worth approximately $143,262,000. BNP Paribas Financial Markets increased its position in shares of CVR Energy by 21,261.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 776,073 shares of the oil and gas company’s stock valued at $28,311,000 after purchasing an additional 772,440 shares during the last quarter. PDT Partners LLC purchased a new stake in CVR Energy during the 2nd quarter valued at $14,502,000. Squarepoint Ops LLC purchased a new stake in CVR Energy during the 4th quarter valued at $9,616,000. Finally, Bank of America Corp DE lifted its position in CVR Energy by 101.2% in the third quarter. Bank of America Corp DE now owns 706,504 shares of the oil and gas company’s stock worth $25,773,000 after buying an additional 355,412 shares during the last quarter. 98.88% of the stock is currently owned by hedge funds and other institutional investors.

About CVR Energy

CVR Energy, Inc is an independent downstream energy company engaged primarily in petroleum refining and nitrogen fertilizer production in the United States. Headquartered in Sugar Land, Texas, CVR Energy operates through two reportable segments—Petroleum Products and Nitrogen Fertilizers—leveraging its refining expertise and distribution network to serve both wholesale and retail markets across key regions in the U.S.

In its Petroleum Products segment, the company owns and operates the Coffeyville, Kansas refinery, which has the capability to process various grades of crude oil into gasoline, diesel, jet fuel and other refined products.