CVR Energy (NYSE:CVI) Issues Earnings Results

CVR Energy (NYSE:CVI) announced its quarterly earnings data on Monday. 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), Briefing.com reports. CVR Energy had a net margin of 6.39% and a return on equity of 25.00%. The company had revenue of $1.83 billion for the quarter, compared to analysts’ expectations of $1.91 billion. During the same period in the prior year, the firm earned $1.89 earnings per share. The firm’s quarterly revenue was down 27.3% on a year-over-year basis.

CVR Energy Stock Performance

CVI traded down $0.33 during trading hours on Thursday, hitting $16.78. 550,974 shares of the stock were exchanged, compared to its average volume of 1,085,429. The company has a debt-to-equity ratio of 1.51, a current ratio of 1.46 and a quick ratio of 0.93. CVR Energy has a 12 month low of $16.61 and a 12 month high of $38.07. The stock has a 50-day simple moving average of $23.58 and a 200-day simple moving average of $26.31. The stock has a market cap of $1.69 billion, a price-to-earnings ratio of 24.79 and a beta of 1.48.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on CVI. JPMorgan Chase & Co. lowered their target price on CVR Energy from $26.00 to $23.00 and set an “underweight” rating for the company in a research note on Wednesday, October 2nd. Tudor, Pickering, Holt & Co. lowered CVR Energy from a “hold” rating to a “sell” rating in a research note on Monday, September 9th. Mizuho reduced their target price on CVR Energy from $27.00 to $25.00 and set a “neutral” rating for the company in a research note on Monday, September 16th. Scotiabank cut their price target 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. Finally, StockNews.com lowered shares of CVR Energy from a “hold” rating to a “sell” rating in a report on Wednesday. Five investment analysts have rated the stock with a sell rating and two have assigned a hold rating to the stock. Based on data from MarketBeat, CVR Energy currently has a consensus rating of “Reduce” and a consensus target price 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.