CVR Energy (NYSE:CVI) Shares Up 3.9% – Time to Buy?

CVR Energy, Inc. (NYSE:CVI) was up 3.9% during trading on Wednesday . The company traded as high as $20.72 and last traded at $20.81. Approximately 31,712 shares traded hands during mid-day trading, a decline of 97% from the average daily volume of 1,183,663 shares. The stock had previously closed at $20.03.

Analysts Set New Price Targets

CVI has been the subject of several research reports. StockNews.com raised CVR Energy from a “sell” rating to a “hold” rating in a research report on Wednesday, February 19th. Mizuho raised their price objective on shares of CVR Energy from $18.00 to $20.00 and gave the stock a “neutral” rating in a report on Monday, December 16th. Finally, The Goldman Sachs Group lowered their target price on shares of CVR Energy from $19.00 to $16.00 and set a “sell” rating on the stock in a research note on Thursday. Five investment analysts have rated the stock with a sell rating and three have given a hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Reduce” and an average target price of $22.00.

CVR Energy Trading Down 0.6 %

The business has a 50 day simple moving average of $19.55 and a 200 day simple moving average of $20.19. The company has a debt-to-equity ratio of 2.15, a current ratio of 1.66 and a quick ratio of 0.86. The company has a market cap of $2.02 billion, a price-to-earnings ratio of 335.36 and a beta of 1.55.

CVR Energy (NYSE:CVI) last issued its quarterly earnings results on Tuesday, February 18th. The oil and gas company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.12). The company had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.85 billion. CVR Energy had a negative return on equity of 5.12% and a net margin of 0.09%. As a group, equities analysts forecast that CVR Energy, Inc. will post -0.12 EPS for the current year.

Insider Activity at CVR Energy

In other news, major shareholder Carl C. Icahn acquired 3,610 shares of the stock in a transaction that occurred on Friday, February 28th. The stock was purchased at an average cost of $18.24 per share, for a total transaction of $65,846.40. Following the completion of the transaction, the insider now directly owns 67,574,203 shares in the company, valued at $1,232,553,462.72. This trade represents a 0.01 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders purchased a total of 1,492,540 shares of company stock valued at $27,049,928 over the last quarter. Corporate insiders own 0.01% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Charles Schwab Investment Management Inc. boosted its stake in CVR Energy by 14.6% in the third 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 acquiring an additional 81,590 shares during the last quarter. Barclays PLC increased its holdings in CVR Energy by 214.3% in the third quarter. Barclays PLC now owns 78,030 shares of the oil and gas company’s stock valued at $1,797,000 after purchasing an additional 53,203 shares during the last quarter. State Street Corp lifted its stake in CVR Energy by 18.1% in the third quarter. State Street Corp now owns 2,075,058 shares of the oil and gas company’s stock valued at $47,789,000 after buying an additional 317,475 shares during the period. Hotchkis & Wiley Capital Management LLC acquired a new position in shares of CVR Energy during the 3rd quarter worth about $5,335,000. Finally, D.A. Davidson & CO. bought a new stake in shares of CVR Energy in the 4th quarter valued at about $736,000. 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.