CVR Energy (NYSE:CVI) Shares Gap Up – Here’s What Happened

CVR Energy, Inc. (NYSE:CVI)’s stock price gapped up prior to trading on Friday . The stock had previously closed at $16.52, but opened at $17.81. CVR Energy shares last traded at $17.96, with a volume of 702,613 shares.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on CVI shares. Tudor Pickering upgraded CVR Energy to a “strong sell” rating in a report on Monday, September 9th. Scotiabank cut their price objective on shares of CVR Energy from $25.00 to $21.00 and set a “sector underperform” rating on the stock in a research report on Thursday, October 10th. UBS Group lowered their price objective on CVR Energy from $33.75 to $30.00 and set a “neutral” rating for the company in a research report on Tuesday, August 13th. StockNews.com cut shares of CVR Energy from a “hold” rating to a “sell” rating in a research note on Wednesday, October 30th. Finally, Tudor, Pickering, Holt & Co. downgraded CVR Energy from a “hold” rating to a “sell” rating in a research report on Monday, September 9th. Five research analysts have rated the stock with a sell rating and two have assigned a hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Reduce” and an average target price of $24.75.

CVR Energy Price Performance

The company has a 50-day moving average of $22.60 and a 200 day moving average of $25.65. The company has a quick ratio of 0.86, a current ratio of 1.33 and a debt-to-equity ratio of 1.84. The stock has a market capitalization of $1.85 billion, a PE ratio of 26.19 and a beta of 1.52.

CVR Energy (NYSE:CVI) last issued its quarterly earnings data on Monday, October 28th. The oil and gas company reported ($0.50) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.41). The business had revenue of $1.83 billion for the quarter, compared to analyst estimates of $1.91 billion. CVR Energy had a return on equity of 2.88% and a net margin of 0.89%. The firm’s revenue for the quarter was down 27.3% compared to the same quarter last year. During the same period in the previous year, the business posted $1.89 earnings per share. Sell-side analysts predict that CVR Energy, Inc. will post 0.12 EPS for the current year.

Institutional Investors Weigh In On CVR Energy

Several institutional investors and hedge funds have recently modified their holdings of CVI. SummerHaven Investment Management LLC raised its stake in shares of CVR Energy by 2.2% in the second quarter. SummerHaven Investment Management LLC now owns 24,511 shares of the oil and gas company’s stock valued at $656,000 after acquiring an additional 530 shares in the last quarter. Amalgamated Bank increased its holdings in CVR Energy by 9.6% in the third quarter. Amalgamated Bank now owns 9,716 shares of the oil and gas company’s stock valued at $224,000 after buying an additional 849 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in CVR Energy by 4.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 21,485 shares of the oil and gas company’s stock worth $767,000 after buying an additional 990 shares during the last quarter. Quest Partners LLC increased its holdings in shares of CVR Energy by 47.3% in the 2nd quarter. Quest Partners LLC now owns 3,485 shares of the oil and gas company’s stock valued at $93,000 after acquiring an additional 1,119 shares during the last quarter. Finally, Headlands Technologies LLC raised its position in shares of CVR Energy by 820.5% during the 2nd quarter. Headlands Technologies LLC now owns 1,482 shares of the oil and gas company’s stock worth $40,000 after acquiring an additional 1,321 shares in the last quarter. 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.