CVR Energy (NYSE:CVI) Stock Price Down 4.6% – Here’s Why

CVR Energy, Inc. (NYSE:CVI) shares fell 4.6% during mid-day trading on Wednesday . The company traded as low as $20.04 and last traded at $19.60. 40,603 shares were traded during mid-day trading, a decline of 96% from the average session volume of 933,310 shares. The stock had previously closed at $20.54.

Analysts Set New Price Targets

CVI has been the topic of several research reports. The Goldman Sachs Group decreased their price objective on shares of CVR Energy from $24.00 to $21.00 and set a “sell” rating on the stock in a report on Friday, December 6th. Mizuho upped their price objective on shares of CVR Energy from $18.00 to $20.00 and gave the stock a “neutral” rating in a research report on Monday, December 16th. Finally, StockNews.com upgraded CVR Energy from a “sell” rating to a “hold” rating in a research note on Wednesday, February 19th. Five investment analysts have rated the stock with a sell rating and three have issued a hold rating to the company. According to MarketBeat.com, CVR Energy currently has a consensus rating of “Reduce” and a consensus price target of $23.00.

CVR Energy Price Performance

The company has a quick ratio of 0.86, a current ratio of 1.66 and a debt-to-equity ratio of 2.15. The firm has a market cap of $1.96 billion, a P/E ratio of 324.97 and a beta of 1.57. The business’s 50 day moving average is $19.31 and its two-hundred day moving average is $21.00.

CVR Energy (NYSE:CVI) last issued its earnings results on Tuesday, February 18th. The oil and gas company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.12). The business had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.85 billion. CVR Energy had a negative return on equity of 5.12% and a net margin of 0.09%. As a group, analysts anticipate that CVR Energy, Inc. will post -0.12 earnings per share for the current year.

Insiders Place Their Bets

In other CVR Energy news, major shareholder Carl C. Icahn purchased 878,212 shares of the firm’s stock in a transaction on Wednesday, January 8th. The stock was acquired at an average price of $18.25 per share, for a total transaction of $16,027,369.00. Following the purchase, the insider now owns 67,570,593 shares of the company’s stock, valued at $1,233,163,322.25. This trade represents a 1.32 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.01% of the company’s stock.

Hedge Funds Weigh In On CVR Energy

Several large investors have recently bought and sold shares of the stock. R Squared Ltd bought a new position in shares of CVR Energy during the 4th quarter valued at approximately $36,000. PNC Financial Services Group Inc. raised its stake in shares of CVR Energy by 55.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,052 shares of the oil and gas company’s stock valued at $38,000 after buying an additional 731 shares during the period. Wilmington Savings Fund Society FSB purchased a new position in shares of CVR Energy during the 3rd quarter valued at $43,000. Larson Financial Group LLC lifted its position in shares of CVR Energy by 640.9% during the 3rd quarter. Larson Financial Group LLC now owns 3,119 shares of the oil and gas company’s stock valued at $72,000 after buying an additional 2,698 shares during the last quarter. Finally, FMR LLC increased its holdings in CVR Energy by 103.4% in the 3rd quarter. FMR LLC now owns 4,031 shares of the oil and gas company’s stock worth $93,000 after acquiring an additional 2,049 shares during the last quarter. 98.88% of the stock is currently owned by institutional investors.

About CVR Energy

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.