CVR Energy (NYSE:CVI) Sets New 1-Year Low - Here's What Happened

CVR Energy, Inc. (NYSE:CVI - Get Free Report)'s share price hit a new 52-week low during trading on Monday . The company traded as low as $15.10 and last traded at $15.21, with a volume of 169837 shares traded. The stock had previously closed at $16.06.

Analyst Upgrades and Downgrades

CVI has been the subject of several recent research reports. StockNews.com upgraded CVR Energy from a "sell" rating to a "hold" rating in a research report on Wednesday, February 19th. The Goldman Sachs Group dropped their price target on shares of CVR Energy from $19.00 to $16.00 and set a "sell" rating for the company in a research report on Thursday, March 27th. Mizuho raised their price target on shares of CVR Energy from $20.00 to $21.00 and gave the stock a "neutral" rating in a report on Tuesday, April 1st. Finally, Scotiabank dropped their target price on shares of CVR Energy from $22.00 to $16.00 and set a "sector underperform" rating for the company in a report on Friday. Five investment analysts have rated the stock with a sell rating and three have issued a hold rating to the company. According to data from MarketBeat, CVR Energy currently has a consensus rating of "Reduce" and an average target price of $21.20.

CVR Energy Price Performance

The stock has a market cap of $1.78 billion, a P/E ratio of 295.40 and a beta of 1.26. The business's 50 day moving average price is $18.92 and its two-hundred day moving average price is $19.75. The company has a current ratio of 1.66, a quick ratio of 0.86 and a debt-to-equity ratio of 2.15.

Remove Ads

CVR Energy (NYSE:CVI - Get Free Report) last posted its earnings results on Tuesday, February 18th. The oil and gas company reported ($0.13) earnings per share for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.12). CVR Energy had a negative return on equity of 5.12% and a net margin of 0.09%. The firm had revenue of $1.95 billion for the quarter, compared to analysts' expectations of $1.85 billion. As a group, sell-side analysts expect that CVR Energy, Inc. will post -0.12 earnings per share for the current fiscal year.

Insider Activity

In related news, major shareholder Carl C. Icahn purchased 3,610 shares of the company's stock in a transaction dated Friday, February 28th. The shares were purchased at an average cost of $18.24 per share, with a total value of $65,846.40. Following 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 position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In the last 90 days, insiders have acquired 1,123,018 shares of company stock worth $19,444,107. Corporate insiders own 0.01% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC raised its position in shares of CVR Energy by 3,908.1% in the 1st quarter. GAMMA Investing LLC now owns 41,885 shares of the oil and gas company's stock worth $813,000 after purchasing an additional 40,840 shares during the last quarter. GF Fund Management CO. LTD. bought a new position in shares of CVR Energy in the fourth quarter worth approximately $198,000. GTS Securities LLC purchased a new stake in shares of CVR Energy during the fourth quarter valued at approximately $197,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of CVR Energy by 1.7% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 60,282 shares of the oil and gas company's stock valued at $1,130,000 after acquiring an additional 1,035 shares in the last quarter. Finally, Two Sigma Investments LP raised its holdings in CVR Energy by 56.2% in the 4th quarter. Two Sigma Investments LP now owns 750,195 shares of the oil and gas company's stock worth $14,059,000 after acquiring an additional 269,763 shares during the last quarter. Hedge funds and other institutional investors own 98.88% of the company's stock.

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.