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

Shares of CVR Energy, Inc. (NYSE:CVI) gapped up prior to trading on Friday . The stock had previously closed at $18.32, but opened at $18.95. CVR Energy shares last traded at $19.02, with a volume of 175,908 shares traded.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on CVI. Tudor, Pickering, Holt & Co. cut shares of CVR Energy from a “hold” rating to a “sell” rating in a research note on Monday, September 9th. Tudor Pickering raised shares of CVR Energy to a “strong sell” rating in a report on Monday, September 9th. Scotiabank lowered their price objective on shares of CVR Energy from $25.00 to $21.00 and set a “sector underperform” rating for the company in a research note on Thursday, October 10th. UBS Group reduced their price target on CVR Energy from $33.75 to $30.00 and set a “neutral” rating on the stock in a report on Tuesday, August 13th. Finally, StockNews.com downgraded CVR Energy from a “hold” rating to a “sell” rating in a report on Wednesday, October 30th. Six research analysts have rated the stock with a sell rating and two have issued a hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus price target of $24.00.

CVR Energy Trading Up 1.5 %

The stock has a market capitalization of $1.87 billion, a PE ratio of 27.12 and a beta of 1.57. The company has a current ratio of 1.33, a quick ratio of 0.86 and a debt-to-equity ratio of 1.84. The stock has a 50 day moving average price of $20.85 and a 200-day moving average price of $24.03.

CVR Energy (NYSE:CVI) last announced its quarterly earnings results 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 company had revenue of $1.83 billion during the quarter, compared to the consensus estimate of $1.91 billion. CVR Energy had a net margin of 0.89% and a return on equity of 2.88%. The business’s revenue was down 27.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.89 earnings per share. Sell-side analysts expect that CVR Energy, Inc. will post -0.12 earnings per share for the current year.

Hedge Funds Weigh In On CVR Energy

Several hedge funds have recently added to or reduced their stakes in the company. Headlands Technologies LLC grew its stake in shares of CVR Energy by 820.5% during the second quarter. Headlands Technologies LLC now owns 1,482 shares of the oil and gas company’s stock valued at $40,000 after buying an additional 1,321 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new position in CVR Energy in the 3rd quarter valued at $43,000. Future Financial Wealth Managment LLC purchased a new stake in shares of CVR Energy in the third quarter valued at approximately $46,000. Larson Financial Group LLC increased its position in CVR Energy by 640.9% during the 3rd quarter. Larson Financial Group LLC now owns 3,119 shares of the oil and gas company’s stock valued at $72,000 after purchasing an additional 2,698 shares during the period. Finally, Quest Partners LLC lifted its position 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 worth $93,000 after purchasing an additional 1,119 shares during the period. 98.88% of the stock is currently 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.