CVR Energy (NYSE:CVI) Stock Price Down 3.7% - Here's Why

CVR Energy, Inc. (NYSE:CVI - Get Free Report) dropped 3.7% during trading on Friday . The stock traded as low as $20.84 and last traded at $20.83. Approximately 343,487 shares traded hands during trading, a decline of 63% from the average daily volume of 933,471 shares. The stock had previously closed at $21.62.

Analyst Upgrades and Downgrades

CVI has been the topic of several recent research reports. Scotiabank dropped 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 report on Thursday, October 10th. Mizuho lifted their price objective on shares of CVR Energy from $18.00 to $20.00 and gave the company a "neutral" rating in a research note on Monday, December 16th. JPMorgan Chase & Co. dropped their target price on CVR Energy from $26.00 to $23.00 and set an "underweight" rating on the stock in a research report on Wednesday, October 2nd. The Goldman Sachs Group cut their price target on CVR Energy from $24.00 to $21.00 and set a "sell" rating for the company in a report on Friday, December 6th. Finally, StockNews.com lowered CVR Energy from a "hold" rating to a "sell" rating in a research note on Saturday, December 14th. Six investment analysts have rated the stock with a sell rating and two have assigned a hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Reduce" and an average target price of $23.00.

CVR Energy Stock Down 3.4 %

The company has a market cap of $2.10 billion, a PE ratio of 30.30 and a beta of 1.58. The stock has a 50-day moving average of $18.91 and a 200-day moving average of $22.21. 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 quarterly earnings results on Monday, October 28th. The oil and gas company reported ($0.50) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.09) by ($0.41). The business had revenue of $1.83 billion for the quarter, compared to the consensus estimate of $1.91 billion. CVR Energy had a net margin of 0.89% and a return on equity of 2.88%. The business's revenue was down 27.3% compared to the same quarter last year. During the same quarter last year, the business posted $1.89 EPS. Sell-side analysts predict that CVR Energy, Inc. will post -0.79 earnings per share for the current fiscal year.

Insider Transactions at CVR Energy

In other news, major shareholder Carl C. Icahn acquired 878,212 shares of the business's stock in a transaction dated Wednesday, January 8th. The stock was purchased at an average cost of $18.25 per share, for a total transaction of $16,027,369.00. Following the acquisition, the insider now owns 67,570,593 shares of the company's stock, valued at $1,233,163,322.25. This trade represents a 1.32 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.01% of the company's stock.

Institutional Trading of CVR Energy

Several hedge funds and other institutional investors have recently bought and sold shares of CVI. Amalgamated Bank raised its stake in shares of CVR Energy by 9.6% during the third quarter. Amalgamated Bank now owns 9,716 shares of the oil and gas company's stock worth $224,000 after acquiring an additional 849 shares in the last quarter. Mercer Global Advisors Inc. ADV lifted its stake in CVR Energy by 27.7% in 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 purchasing an additional 1,692 shares during the last quarter. Louisiana State Employees Retirement System boosted its position in CVR Energy by 12.2% during the third quarter. Louisiana State Employees Retirement System now owns 16,500 shares of the oil and gas company's stock valued at $380,000 after buying an additional 1,800 shares during the period. Wilmington Savings Fund Society FSB bought a new position in shares of CVR Energy during the third quarter valued at about $43,000. Finally, Future Financial Wealth Managment LLC purchased a new position in shares of CVR Energy in the third quarter worth about $46,000. 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.

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