CVR Energy, Inc. (NYSE:CVI) Sees Significant Drop in Short Interest

CVR Energy, Inc. (NYSE:CVI) saw a large drop in short interest during the month of August. As of August 31st, there was short interest totalling 4,910,000 shares, a drop of 5.2% from the August 15th total of 5,180,000 shares. Based on an average daily volume of 1,160,000 shares, the days-to-cover ratio is currently 4.2 days. Approximately 4.9% of the company’s shares are short sold.

CVR Energy Stock Performance

CVI stock opened at $24.62 on Friday. CVR Energy has a 1-year low of $21.05 and a 1-year high of $38.07. The company has a current ratio of 1.46, a quick ratio of 0.93 and a debt-to-equity ratio of 1.51. The firm has a market cap of $2.48 billion, a PE ratio of 3.74 and a beta of 1.49. The business’s 50-day moving average price is $24.87 and its two-hundred day moving average price is $28.75.

CVR Energy (NYSE:CVI) last released its quarterly earnings data on Monday, July 29th. The oil and gas company reported $0.09 earnings per share 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 business had revenue of $1.97 billion for the quarter, compared to analysts’ expectations of $1.80 billion. During the same quarter in the previous year, the business posted $1.64 EPS. CVR Energy’s revenue for the quarter was down 12.0% on a year-over-year basis. As a group, research analysts forecast that CVR Energy will post 0.55 earnings per share for the current year.

CVR Energy Announces Dividend

The business also recently disclosed 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 annualized dividend and a dividend yield of 8.12%. The ex-dividend date was Monday, August 12th. CVR Energy’s dividend payout ratio is 30.67%.

Wall Street Analyst Weigh In

CVI has been the topic of several analyst reports. UBS Group cut their price objective on shares of CVR Energy from $33.75 to $30.00 and set a “neutral” rating on the stock in a report on Tuesday, August 13th. JPMorgan Chase & Co. reduced their price target on CVR Energy from $30.00 to $26.00 and set an “underweight” rating on the stock in a research report on Tuesday, July 2nd. StockNews.com downgraded CVR Energy from a “buy” rating to a “hold” rating in a report on Sunday, June 16th. Scotiabank raised their target price on CVR Energy from $24.00 to $25.00 and gave the stock a “sector underperform” rating in a report on Wednesday, July 31st. Finally, Tudor Pickering raised CVR Energy to a “strong sell” rating in a research note on Monday, September 9th. Four equities research analysts have rated the stock with a sell rating and three have given a hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus target price of $26.50.

Institutional Investors Weigh In On CVR Energy

Institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in shares of CVR Energy by 12.1% in the 4th quarter. Vanguard Group Inc. now owns 3,934,944 shares of the oil and gas company’s stock valued at $119,229,000 after purchasing an additional 424,348 shares during the period. BNP Paribas Financial Markets raised its position in CVR Energy by 29.0% in the 4th quarter. BNP Paribas Financial Markets now owns 123,088 shares of the oil and gas company’s stock valued at $3,730,000 after buying an additional 27,676 shares during the last quarter. Rafferty Asset Management LLC lifted its stake in CVR Energy by 26.0% in the 4th quarter. Rafferty Asset Management LLC now owns 139,610 shares of the oil and gas company’s stock valued at $4,230,000 after acquiring an additional 28,797 shares in the last quarter. Norges Bank acquired a new position in CVR Energy during the 4th quarter worth approximately $11,567,000. Finally, Kingsview Wealth Management LLC bought a new position in shares of CVR Energy during the 1st quarter worth approximately $754,000. 98.88% of the stock is owned by institutional investors.

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.