CVR Energy (NYSE:CVI) Stock Price Down 4.4% – Here’s What Happened

CVR Energy, Inc. (NYSE:CVI) was down 4.4% during trading on Wednesday . The stock traded as low as $18.16 and last traded at $18.17. Approximately 186,380 shares traded hands during mid-day trading, a decline of 84% from the average daily volume of 1,132,055 shares. The stock had previously closed at $19.00.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on CVI shares. JPMorgan Chase & Co. cut their price objective on CVR Energy from $26.00 to $23.00 and set an “underweight” rating for the company in a report on Wednesday, October 2nd. StockNews.com cut CVR Energy from a “hold” rating to a “sell” rating in a research report on Wednesday, October 30th. Tudor Pickering upgraded CVR Energy to a “strong sell” rating in a research report on Monday, September 9th. Tudor, Pickering, Holt & Co. cut CVR Energy from a “hold” rating to a “sell” rating in a research report on Monday, September 9th. Finally, Scotiabank reduced their price objective on CVR Energy from $25.00 to $21.00 and set a “sector underperform” rating on the stock in a research note on Thursday, October 10th. Five investment analysts have rated the stock with a sell rating and two have assigned a hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus target price of $24.75.

CVR Energy Stock Performance

The company has a quick ratio of 0.86, a current ratio of 1.33 and a debt-to-equity ratio of 1.84. The company has a 50 day simple moving average of $21.02 and a 200-day simple moving average of $24.11. The stock has a market capitalization of $1.84 billion, a price-to-earnings ratio of 27.54 and a beta of 1.57.

CVR Energy (NYSE:CVI) last issued its earnings results on Monday, October 28th. The oil and gas company reported ($0.50) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.41). CVR Energy had a return on equity of 2.88% and a net margin of 0.89%. The firm had revenue of $1.83 billion for the quarter, compared to analyst estimates of $1.91 billion. During the same period in the previous year, the company earned $1.89 earnings per share. CVR Energy’s revenue for the quarter was down 27.3% compared to the same quarter last year. As a group, equities research analysts expect that CVR Energy, Inc. will post -0.12 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. State Street Corp boosted its stake in CVR Energy by 18.1% in the 3rd quarter. State Street Corp now owns 2,075,058 shares of the oil and gas company’s stock worth $47,789,000 after purchasing an additional 317,475 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of CVR Energy by 2.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,072,334 shares of the oil and gas company’s stock valued at $55,476,000 after acquiring an additional 44,636 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of 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 in the last quarter. SIR Capital Management L.P. purchased a new stake in shares of CVR Energy in the 2nd quarter valued at about $17,907,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of CVR Energy by 14.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 639,138 shares of the oil and gas company’s stock valued at $14,719,000 after buying an additional 81,590 shares in the last quarter. Institutional investors own 98.88% of the company’s stock.

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.