CVR Energy (NYSE:CVI) Shares Gap Up – What’s Next?

CVR Energy, Inc. (NYSE:CVI)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $18.49, but opened at $20.71. CVR Energy shares last traded at $21.79, with a volume of 326,047 shares traded.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on CVI shares. The Goldman Sachs Group cut their price target on shares of CVR Energy from $24.00 to $21.00 and set a “sell” rating for the company in a report on Friday, December 6th. Mizuho upped their target price on shares of CVR Energy from $18.00 to $20.00 and gave the stock a “neutral” rating in a research report on Monday, December 16th. Finally, StockNews.com upgraded shares of CVR Energy from a “sell” rating to a “hold” rating in a research report on Wednesday. Five investment analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. According to MarketBeat.com, CVR Energy presently has a consensus rating of “Reduce” and a consensus price target of $23.00.

CVR Energy Price Performance

The company has a debt-to-equity ratio of 1.84, a quick ratio of 0.86 and a current ratio of 1.33. The stock has a market capitalization of $2.08 billion, a PE ratio of 30.02 and a beta of 1.57. The company’s fifty day simple moving average is $19.16 and its two-hundred day simple moving average is $21.17.

CVR Energy (NYSE:CVI) last released its quarterly earnings results on Tuesday, February 18th. The oil and gas company reported ($0.13) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.12). CVR Energy had a net margin of 0.89% and a return on equity of 2.88%. The business had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.85 billion. As a group, sell-side analysts predict that CVR Energy, Inc. will post -0.86 EPS for the current year.

Insider Activity at CVR Energy

In other news, major shareholder Carl C. Icahn bought 878,212 shares of the business’s stock in a transaction that occurred on Wednesday, January 8th. The stock was purchased at an average price of $18.25 per share, with a total value of $16,027,369.00. Following the purchase, the insider now owns 67,570,593 shares of the company’s stock, valued at $1,233,163,322.25. This trade represents a 1.32 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.01% of the company’s stock.

Institutional Investors Weigh In On CVR Energy

Several hedge funds have recently modified their holdings of CVI. GF Fund Management CO. LTD. purchased a new position in shares of CVR Energy during the fourth quarter valued at approximately $198,000. GTS Securities LLC purchased a new stake in shares of CVR Energy in the fourth quarter valued at $197,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of CVR Energy by 1.7% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 60,282 shares of the oil and gas company’s stock valued at $1,130,000 after purchasing an additional 1,035 shares during the period. Two Sigma Investments LP increased its stake in CVR Energy by 56.2% in the fourth quarter. Two Sigma Investments LP now owns 750,195 shares of the oil and gas company’s stock valued at $14,059,000 after purchasing an additional 269,763 shares during the last quarter. Finally, Thomist Capital Management LP purchased a new position in CVR Energy during the fourth quarter worth about $781,000. 98.88% of the stock is owned by institutional investors and hedge funds.

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.