CVR Energy (NYSE:CVI) Shares Gap Up - Here's What Happened

CVR Energy, Inc. (NYSE:CVI - Get Free Report) gapped up before the market opened on Friday . The stock had previously closed at $16.52, but opened at $17.81. CVR Energy shares last traded at $17.96, with a volume of 702,613 shares traded.

Analyst Upgrades and Downgrades

CVI has been the topic of several research reports. JPMorgan Chase & Co. cut their price target on shares of CVR Energy from $26.00 to $23.00 and set an "underweight" rating on the stock in a report on Wednesday, October 2nd. Tudor, Pickering, Holt & Co. downgraded shares of CVR Energy from a "hold" rating to a "sell" rating in a research note on Monday, September 9th. Scotiabank decreased their price target on shares of CVR Energy from $25.00 to $21.00 and set a "sector underperform" rating for the company in a research report on Thursday, October 10th. Mizuho cut their price objective on CVR Energy from $27.00 to $25.00 and set a "neutral" rating on the stock in a research report on Monday, September 16th. Finally, Tudor Pickering upgraded CVR Energy to a "strong sell" rating in a research note on Monday, September 9th. Five research analysts have rated the stock with a sell rating and two have assigned a hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Reduce" and an average price target of $24.75.

CVR Energy Price Performance

The stock has a market cap of $1.86 billion, a price-to-earnings ratio of 26.19 and a beta of 1.52. The company has a 50 day simple moving average of $22.60 and a 200-day simple moving average of $25.65. The company has a quick ratio of 0.86, a current ratio of 1.33 and a debt-to-equity ratio of 1.84.

CVR Energy (NYSE:CVI - Get Free Report) 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 business had revenue of $1.83 billion for the quarter, compared to analyst estimates of $1.91 billion. During the same period last year, the company posted $1.89 earnings per share. The firm's revenue for the quarter was down 27.3% on a year-over-year basis. As a group, research analysts anticipate that CVR Energy, Inc. will post 0.12 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC grew its stake in shares of CVR Energy by 41.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 11,019 shares of the oil and gas company's stock worth $393,000 after purchasing an additional 3,213 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S acquired a new position in CVR Energy during the 1st quarter valued at about $643,000. Empowered Funds LLC raised its position in shares of CVR Energy by 10.0% during the 1st quarter. Empowered Funds LLC now owns 188,009 shares of the oil and gas company's stock worth $6,704,000 after buying an additional 17,109 shares in the last quarter. Susquehanna Fundamental Investments LLC acquired a new stake in shares of CVR Energy in the 1st quarter worth approximately $449,000. Finally, Significant Wealth Partners LLC bought a new position in shares of CVR Energy in the first quarter valued at approximately $771,000. 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.