CVR Energy, Inc. (NYSE:CVI) Short Interest Update

CVR Energy, Inc. (NYSE:CVI) was the recipient of a significant growth in short interest in the month of September. As of September 30th, there was short interest totalling 6,440,000 shares, a growth of 20.6% from the September 15th total of 5,340,000 shares. Based on an average trading volume of 1,240,000 shares, the short-interest ratio is currently 5.2 days. Approximately 6.4% of the shares of the stock are sold short.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on CVI. Mizuho dropped their price objective 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. UBS Group dropped their price target on CVR Energy from $33.75 to $30.00 and set a “neutral” rating for the company in a research report on Tuesday, August 13th. Scotiabank decreased their price objective on shares of CVR Energy from $25.00 to $21.00 and set a “sector underperform” rating on the stock in a research report on Thursday, October 10th. Tudor Pickering upgraded shares of CVR Energy to a “strong sell” rating in a report on Monday, September 9th. Finally, Tudor, Pickering, Holt & Co. cut shares of CVR Energy from a “hold” rating to a “sell” rating in a research report on Monday, September 9th. Four research analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average price target of $24.75.

CVR Energy Stock Performance

NYSE:CVI traded up $0.50 during trading hours on Wednesday, reaching $23.69. 417,197 shares of the stock were exchanged, compared to its average volume of 1,039,735. The stock has a market capitalization of $2.38 billion, a P/E ratio of 3.62 and a beta of 1.48. The firm has a 50 day simple moving average of $24.14 and a 200-day simple moving average of $27.27. 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 has a 52 week low of $21.05 and a 52 week high of $38.07.

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 (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $1.80 billion. During the same quarter in the previous year, the firm posted $1.64 EPS. The business’s revenue for the quarter was down 12.0% compared to the same quarter last year. As a group, sell-side analysts forecast that CVR Energy will post 0.35 earnings per share for the current fiscal year.

CVR Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, August 19th. Shareholders of record on Monday, August 12th were paid a dividend of $0.50 per share. The ex-dividend date was Monday, August 12th. This represents a $2.00 annualized dividend and a yield of 8.44%. CVR Energy’s payout ratio is 30.67%.

Institutional Trading of CVR Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in CVI. SummerHaven Investment Management LLC raised its position in CVR Energy by 2.2% during the second quarter. SummerHaven Investment Management LLC now owns 24,511 shares of the oil and gas company’s stock valued at $656,000 after acquiring an additional 530 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of CVR Energy by 4.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 21,485 shares of the oil and gas company’s stock valued at $767,000 after purchasing an additional 990 shares in the last quarter. Quest Partners LLC lifted its stake 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 valued at $93,000 after purchasing an additional 1,119 shares during the last quarter. Headlands Technologies LLC boosted its holdings in CVR Energy by 820.5% in the second quarter. Headlands Technologies LLC now owns 1,482 shares of the oil and gas company’s stock worth $40,000 after purchasing an additional 1,321 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV increased its position in CVR Energy by 27.7% during the second quarter. Mercer Global Advisors Inc. ADV now owns 7,799 shares of the oil and gas company’s stock worth $209,000 after buying an additional 1,692 shares during the last quarter. 98.88% of the stock is currently 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.