CVR Energy (NYSE:CVI) Reaches New 52-Week Low at $21.57

CVR Energy, Inc. (NYSE:CVI)’s share price hit a new 52-week low during trading on Wednesday . The stock traded as low as $21.57 and last traded at $21.59, with a volume of 44237 shares trading hands. The stock had previously closed at $21.84.

Wall Street Analyst Weigh In

CVI has been the topic of several research reports. StockNews.com lowered CVR Energy from a “buy” rating to a “hold” rating in a research note on Sunday, June 16th. Scotiabank raised their price target on CVR Energy from $24.00 to $25.00 and gave the company a “sector underperform” rating in a research note on Wednesday, July 31st. Mizuho started coverage on CVR Energy in a research report on Wednesday, July 17th. They set a “neutral” rating and a $27.00 price objective on the stock. Tudor Pickering raised CVR Energy to a “strong sell” rating in a research report on Monday. Finally, UBS Group dropped their price objective on CVR Energy from $33.75 to $30.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 13th. Four equities research analysts have rated the stock with a sell rating and three have given a hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average target price of $27.00.

CVR Energy Stock Performance

The company has a debt-to-equity ratio of 1.51, a current ratio of 1.46 and a quick ratio of 0.93. The firm has a market cap of $2.14 billion, a price-to-earnings ratio of 3.27 and a beta of 1.49. The firm has a fifty day simple moving average of $25.00 and a two-hundred day simple moving average of $29.06.

CVR Energy (NYSE:CVI) last issued its quarterly earnings results on Monday, July 29th. The oil and gas company reported $0.09 earnings per share for the quarter, topping the consensus estimate of ($0.30) by $0.39. The business had revenue of $1.97 billion during the quarter, compared to the consensus estimate of $1.80 billion. CVR Energy had a return on equity of 25.00% and a net margin of 6.39%. The company’s quarterly revenue was down 12.0% on a year-over-year basis. During the same quarter last year, the company earned $1.64 earnings per share. On average, analysts expect that CVR Energy, Inc. will post 0.55 EPS for the current year.

CVR Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, August 19th. Shareholders of record on Monday, August 12th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 9.39%. The ex-dividend date was Monday, August 12th. CVR Energy’s dividend payout ratio is presently 30.67%.

Institutional Investors Weigh In On CVR Energy

Institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of CVR Energy by 12.1% during the fourth quarter. Vanguard Group Inc. now owns 3,934,944 shares of the oil and gas company’s stock worth $119,229,000 after purchasing an additional 424,348 shares during the period. Dynamic Technology Lab Private Ltd raised its position in CVR Energy by 282.5% during the fourth quarter. Dynamic Technology Lab Private Ltd now owns 104,989 shares of the oil and gas company’s stock valued at $3,181,000 after acquiring an additional 77,539 shares in the last quarter. BNP Paribas Financial Markets raised its position in CVR Energy by 29.0% during the fourth quarter. BNP Paribas Financial Markets now owns 123,088 shares of the oil and gas company’s stock valued at $3,730,000 after acquiring an additional 27,676 shares in the last quarter. Rafferty Asset Management LLC raised its position in CVR Energy by 26.0% during the fourth quarter. Rafferty Asset Management LLC now owns 139,610 shares of the oil and gas company’s stock valued at $4,230,000 after acquiring an additional 28,797 shares in the last quarter. Finally, Kingsview Wealth Management LLC purchased a new position in CVR Energy during the first quarter valued at approximately $754,000. Institutional investors and hedge funds 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.