CVR Energy (NYSE:CVI) Sets New 12-Month High – Here’s What Happened

CVR Energy Inc. (NYSE:CVI)’s share price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $55.19 and last traded at $53.02, with a volume of 1205448 shares. The stock had previously closed at $53.69.

Wall Street Analysts Forecast Growth

CVI has been the subject of a number of analyst reports. Zacks Research raised shares of CVR Energy from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 4th. Wall Street Zen raised CVR Energy from a “hold” rating to a “buy” rating in a report on Saturday, August 1st. Weiss Ratings upgraded CVR Energy from a “sell (d-)” rating to a “hold (c)” rating in a research report on Tuesday. Mizuho lifted their target price on CVR Energy from $28.00 to $29.00 and gave the company an “underperform” rating in a research note on Tuesday, August 4th. Finally, UBS Group reissued a “neutral” rating and issued a $35.00 price target on shares of CVR Energy in a report on Monday, June 29th. Four research analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company. According to MarketBeat.com, CVR Energy has an average rating of “Reduce” and a consensus target price of $30.50.

CVR Energy Price Performance

The company has a debt-to-equity ratio of 2.38, a quick ratio of 0.92 and a current ratio of 1.42. The firm has a fifty day simple moving average of $40.07 and a two-hundred day simple moving average of $34.42. The firm has a market cap of $5.21 billion, a PE ratio of 76.19 and a beta of 0.85.

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. Equities analysts predict that CVR Energy Inc. will post 1.56 EPS for the current fiscal year.

CVR Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 17th. Stockholders of record on Monday, August 10th were issued a $0.10 dividend. The ex-dividend date was Monday, August 10th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.8%. CVR Energy’s payout ratio is 58.82%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new stake in shares of CVR Energy in the 2nd quarter valued at approximately $143,262,000. Dimensional Fund Advisors LP lifted its position in CVR Energy by 16.1% in 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 buying an additional 265,013 shares during the last quarter. State Street Corp boosted its stake in CVR Energy by 11.0% during the second quarter. State Street Corp now owns 2,153,498 shares of the oil and gas company’s stock worth $59,315,000 after buying an additional 213,829 shares during the period. Bank of America Corp DE increased its position in CVR Energy by 19.4% during the second quarter. Bank of America Corp DE now owns 671,728 shares of the oil and gas company’s stock valued at $18,499,000 after acquiring an additional 109,338 shares during the last quarter. Finally, PDT Partners LLC purchased a new stake in shares of CVR Energy in the second quarter valued at $14,502,000. Hedge funds and other institutional investors own 98.88% of the company’s stock.

About CVR Energy

CVR Energy, Inc (NYSE:CVI) is a diversified energy company that operates through its petroleum refining and nitrogen fertilizer businesses. The company’s operations are primarily located in the Mid-Continent region of the United States.

Through its petroleum segment, CVR Energy owns and operates refineries in Coffeyville, Kansas, and Wynnewood, Oklahoma. These facilities process crude oil into transportation fuels and other refined products, including gasoline, diesel fuel, jet fuel, and asphalt.