CVR Energy (NYSE:CVI) Issues Earnings Results

CVR Energy (NYSE:CVI) released its quarterly earnings data on Monday. The oil and gas company reported ($0.50) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.41), Briefing.com reports. CVR Energy had a return on equity of 25.00% and a net margin of 6.39%. The company had revenue of $1.83 billion for the quarter, compared to the consensus estimate of $1.91 billion. During the same period last year, the firm earned $1.89 earnings per share. The company’s revenue for the quarter was down 27.3% compared to the same quarter last year.

CVR Energy Price Performance

CVI stock traded down $0.45 during midday trading on Thursday, reaching $16.66. The company had a trading volume of 431,504 shares, compared to its average volume of 1,084,863. The company has a market capitalization of $1.67 billion, a price-to-earnings ratio of 24.79 and a beta of 1.48. The stock has a 50 day moving average price of $23.58 and a 200-day moving average price of $26.31. CVR Energy has a 1-year low of $16.61 and a 1-year high of $38.07. The company has a debt-to-equity ratio of 1.51, a current ratio of 1.46 and a quick ratio of 0.93.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on CVI shares. JPMorgan Chase & Co. dropped their target price on CVR Energy from $26.00 to $23.00 and set an “underweight” rating for the company in a report on Wednesday, October 2nd. Tudor, Pickering, Holt & Co. downgraded CVR Energy from a “hold” rating to a “sell” rating in a report on Monday, September 9th. Scotiabank dropped their target price on CVR Energy from $25.00 to $21.00 and set a “sector underperform” rating for the company in a report on Thursday, October 10th. Mizuho dropped their target price on CVR Energy from $27.00 to $25.00 and set a “neutral” rating for the company in a report on Monday, September 16th. Finally, UBS Group dropped their price target on CVR Energy from $33.75 to $30.00 and set a “neutral” rating for the company in a research note on Tuesday, August 13th. Five analysts have rated the stock with a sell rating and two have issued a hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Reduce” and a consensus price target of $24.75.

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.