CVR Energy (NYSE:CVI) Shares Down 3.7% – Time to Sell?

CVR Energy, Inc. (NYSE:CVI)’s stock price traded down 3.7% on Friday . The company traded as low as $20.84 and last traded at $20.83. 343,487 shares traded hands during trading, a decline of 63% from the average session volume of 933,471 shares. The stock had previously closed at $21.62.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Scotiabank cut their target price on shares of CVR Energy from $25.00 to $21.00 and set a “sector underperform” rating on the stock in a report on Thursday, October 10th. 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 research report on Friday, December 6th. Mizuho increased their target price on shares of CVR Energy from $18.00 to $20.00 and gave the stock a “neutral” rating in a report on Monday, December 16th. StockNews.com cut CVR Energy from a “hold” rating to a “sell” rating in a research note on Saturday, December 14th. Finally, JPMorgan Chase & Co. lowered their price target on CVR Energy from $26.00 to $23.00 and set an “underweight” rating for the company in a research report on Wednesday, October 2nd. Six equities research analysts have rated the stock with a sell rating and two have given a hold rating to the stock. According to MarketBeat.com, CVR Energy presently has an average rating of “Reduce” and an average price target of $23.00.

CVR Energy Trading Down 3.4 %

The company has a debt-to-equity ratio of 1.84, a current ratio of 1.33 and a quick ratio of 0.86. The stock’s 50 day moving average is $18.91 and its 200-day moving average is $22.21. The company has a market capitalization of $2.10 billion, a P/E ratio of 30.30 and a beta of 1.58.

CVR Energy (NYSE:CVI) last announced its earnings results on Monday, October 28th. The oil and gas company reported ($0.50) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.41). CVR Energy had a return on equity of 2.88% and a net margin of 0.89%. The firm had revenue of $1.83 billion during the quarter, compared to the consensus estimate of $1.91 billion. The firm’s revenue was down 27.3% on a year-over-year basis. During the same period in the prior year, the company posted $1.89 EPS. As a group, equities research analysts anticipate that CVR Energy, Inc. will post -0.79 earnings per share for the current year.

Insider Buying and Selling at CVR Energy

In other CVR Energy news, major shareholder Carl C. Icahn bought 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, with a total value of $16,027,369.00. Following the completion of the purchase, the insider now owns 67,570,593 shares of the company’s stock, valued at approximately $1,233,163,322.25. This trade represents a 1.32 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.01% of the company’s stock.

Institutional Trading of CVR Energy

Hedge funds have recently made changes to their positions in the stock. SG Americas Securities LLC raised its stake in CVR Energy by 14.3% during the fourth quarter. SG Americas Securities LLC now owns 24,319 shares of the oil and gas company’s stock valued at $456,000 after buying an additional 3,050 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new position in shares of CVR Energy in the 3rd quarter worth about $43,000. Barclays PLC boosted its stake in CVR Energy by 214.3% in the 3rd quarter. Barclays PLC now owns 78,030 shares of the oil and gas company’s stock worth $1,797,000 after purchasing an additional 53,203 shares in the last quarter. Vestcor Inc grew its position in CVR Energy by 401.4% during the 3rd quarter. Vestcor Inc now owns 24,233 shares of the oil and gas company’s stock valued at $558,000 after purchasing an additional 19,400 shares during the last quarter. Finally, XTX Topco Ltd bought a new stake in CVR Energy during the 3rd quarter valued at about $1,302,000. 98.88% of the stock is owned by institutional investors.

CVR Energy Company Profile

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.