CVR Energy (NYSE:CVI) Hits New 12-Month Low at $23.12

CVR Energy, Inc. (NYSE:CVI) hit a new 52-week low on Thursday . The stock traded as low as $23.12 and last traded at $23.18, with a volume of 624427 shares traded. The stock had previously closed at $24.45.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on CVI. UBS Group reduced their price target on CVR Energy from $33.75 to $30.00 and set a “neutral” rating for the company in a report on Tuesday, August 13th. Mizuho began coverage on CVR Energy in a report on Wednesday, July 17th. They issued a “neutral” rating and a $27.00 price target for the company. StockNews.com downgraded CVR Energy from a “buy” rating to a “hold” rating in a report on Sunday, June 16th. JPMorgan Chase & Co. reduced their price target on CVR Energy from $30.00 to $26.00 and set an “underweight” rating for the company in a report on Tuesday, July 2nd. Finally, Scotiabank increased their price target on CVR Energy from $24.00 to $25.00 and gave the company a “sector underperform” rating in a report on Wednesday, July 31st. Two analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $27.00.

CVR Energy Price Performance

The company has a 50 day simple moving average of $25.38 and a 200-day simple moving average of $29.38. The stock has a market cap of $2.32 billion, a price-to-earnings ratio of 3.54 and a beta of 1.49. The company has a quick ratio of 0.93, a current ratio of 1.46 and a debt-to-equity ratio of 1.51.

CVR Energy (NYSE:CVI) last announced its quarterly earnings data on Monday, July 29th. The oil and gas company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.30) by $0.39. CVR Energy had a return on equity of 25.00% and a net margin of 6.39%. The firm had revenue of $1.97 billion for the quarter, compared to analysts’ expectations of $1.80 billion. During the same quarter in the prior year, the firm posted $1.64 earnings per share. CVR Energy’s revenue for the quarter was down 12.0% compared to the same quarter last year. As a group, research analysts anticipate that CVR Energy, Inc. will post 0.55 EPS for the current fiscal year.

CVR Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, August 19th. Stockholders of record on Monday, August 12th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 8.66%. The ex-dividend date was Monday, August 12th. CVR Energy’s payout ratio is 30.67%.

Institutional Trading of CVR Energy

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in shares of CVR Energy by 2.2% during the 1st quarter. Vanguard Group Inc. now owns 4,020,717 shares of the oil and gas company’s stock worth $143,379,000 after purchasing an additional 85,773 shares during the period. Dimensional Fund Advisors LP raised its position in shares of CVR Energy by 2.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,072,334 shares of the oil and gas company’s stock worth $55,476,000 after purchasing an additional 44,636 shares during the period. Bank of New York Mellon Corp increased its position in CVR Energy by 0.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 975,323 shares of the oil and gas company’s stock valued at $26,109,000 after acquiring an additional 3,134 shares during the period. SIR Capital Management L.P. acquired a new stake in CVR Energy in the 2nd quarter valued at approximately $17,907,000. Finally, Charles Schwab Investment Management Inc. increased its position in CVR Energy by 2.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 554,792 shares of the oil and gas company’s stock valued at $16,810,000 after acquiring an additional 11,614 shares during the period. 98.88% of the stock is currently owned by institutional investors and hedge funds.

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.