CVR Energy (NYSE:CVI) Shares Down 2.3% – Should You Sell?

Shares of CVR Energy, Inc. (NYSE:CVI) were down 2.3% during trading on Monday . The company traded as low as $21.00 and last traded at $20.72. Approximately 23,695 shares traded hands during trading, a decline of 98% from the average daily volume of 1,183,822 shares. The stock had previously closed at $21.20.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CVI. The Goldman Sachs Group lowered 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 raised their price target on shares of CVR Energy from $18.00 to $20.00 and gave the company 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 analysts have rated the stock with a sell rating and three have issued a hold rating to the company. Based on data from MarketBeat.com, CVR Energy currently has an average rating of “Reduce” and a consensus price target of $23.00.

CVR Energy Stock Performance

The company’s 50 day simple moving average is $19.60 and its 200 day simple moving average is $20.21. The company has a debt-to-equity ratio of 2.15, a quick ratio of 0.86 and a current ratio of 1.66. The stock has a market cap of $2.01 billion, a PE ratio of 333.22 and a beta of 1.55.

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

Insider Transactions at CVR Energy

In related news, major shareholder Carl C. Icahn bought 138,853 shares of CVR Energy stock in a transaction dated Wednesday, March 12th. The stock was purchased at an average cost of $18.01 per share, with a total value of $2,500,742.53. Following the transaction, the insider now directly owns 68,446,293 shares of the company’s stock, valued at approximately $1,232,717,736.93. The trade was a 0.20 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have acquired 1,492,540 shares of company stock worth $27,049,928 in the last ninety days. Company insiders own 0.01% of the company’s stock.

Hedge Funds Weigh In On CVR Energy

Institutional investors have recently bought and sold shares of the company. State Street Corp raised its stake in shares of CVR Energy by 18.1% in the third quarter. State Street Corp now owns 2,075,058 shares of the oil and gas company’s stock valued at $47,789,000 after buying an additional 317,475 shares during the period. Two Sigma Investments LP increased its holdings in CVR Energy by 56.2% in the 4th quarter. Two Sigma Investments LP now owns 750,195 shares of the oil and gas company’s stock worth $14,059,000 after acquiring an additional 269,763 shares during the last quarter. Millennium Management LLC raised its stake in CVR Energy by 1,203.0% in the 4th quarter. Millennium Management LLC now owns 286,100 shares of the oil and gas company’s stock valued at $5,362,000 after acquiring an additional 264,143 shares during the period. ExodusPoint Capital Management LP lifted its holdings in CVR Energy by 744.9% during the fourth quarter. ExodusPoint Capital Management LP now owns 293,129 shares of the oil and gas company’s stock valued at $5,493,000 after purchasing an additional 258,436 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in CVR Energy by 12.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,181,295 shares of the oil and gas company’s stock worth $40,876,000 after purchasing an additional 238,081 shares during the period. Hedge funds and other institutional investors own 98.88% of the company’s stock.

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.