CVR Energy (NYSE:CVI) Trading Up 11.3% – Time to Buy?

Shares of CVR Energy Inc. (NYSE:CVI) shot up 11.3% during mid-day trading on Friday . The stock traded as high as $39.95 and last traded at $39.88. Approximately 611,776 shares changed hands during trading, a decline of 47% from the average session volume of 1,158,944 shares. The stock had previously closed at $35.83.

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. Tudor Pickering downgraded CVR Energy from a “hold” rating to a “sell” rating in a research report on Thursday, June 4th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of CVR Energy in a research note on Wednesday, August 12th. Mizuho increased their price target on shares of CVR Energy from $28.00 to $29.00 and gave the company an “underperform” rating in a research report on Tuesday, August 4th. Finally, Wall Street Zen raised shares of CVR Energy from a “hold” rating to a “buy” rating in a research note on Saturday, August 1st. Three research analysts have rated the stock with a Hold rating and five have assigned a Sell rating to the company’s stock. According to MarketBeat, CVR Energy presently has a consensus rating of “Strong Sell” and a consensus price target of $30.50.

CVR Energy Stock Up 11.4%

The stock has a 50 day moving average price of $32.04 and a 200-day moving average price of $30.65. The stock has a market capitalization of $4.01 billion, a P/E ratio of 58.68 and a beta of 0.83. 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 data on Wednesday, July 29th. The oil and gas company reported $0.34 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $2.22 billion. During the same quarter in the previous year, the business earned ($0.23) earnings per share. The company’s quarterly revenue was up 55.5% on a year-over-year basis. As a group, research analysts expect that CVR Energy Inc. will post 0.79 EPS for the current fiscal year.

CVR Energy Announces Dividend

The business also recently declared 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 yield of 1.0%. The ex-dividend date of this dividend was Monday, August 10th. CVR Energy’s payout ratio is 58.82%.

Institutional Trading of CVR Energy

Institutional investors have recently made changes to their positions in the stock. BlackRock Inc. bought a new position in shares of CVR Energy in the second quarter worth approximately $143,262,000. BNP Paribas Financial Markets raised its holdings in 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 buying 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 grew its holdings in CVR Energy by 101.2% in the 3rd quarter. Bank of America Corp DE now owns 706,504 shares of the oil and gas company’s stock worth $25,773,000 after acquiring an additional 355,412 shares during the last quarter. Hedge funds and other institutional investors own 98.88% of the company’s stock.

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.