CVR Energy (NYSE:CVI) Hits New 12-Month Low After Earnings Miss

CVR Energy, Inc. (NYSE:CVI - Get Free Report) hit a new 52-week low during mid-day trading on Tuesday following a dissappointing earnings announcement. The stock traded as low as $18.31 and last traded at $18.33, with a volume of 310637 shares. The stock had previously closed at $23.82.

The oil and gas company reported ($0.50) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.41). CVR Energy had a net margin of 6.39% and a return on equity of 25.00%. The company had revenue of $1.83 billion for the quarter, compared to analysts' expectations of $1.91 billion. During the same quarter in the previous year, the business posted $1.89 earnings per share. The business's quarterly revenue was down 27.3% compared to the same quarter last year.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on CVI. Scotiabank reduced their price objective on 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. Tudor Pickering raised CVR Energy to a "strong sell" rating in a research note on Monday, September 9th. JPMorgan Chase & Co. cut 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. Tudor, Pickering, Holt & Co. lowered CVR Energy from a "hold" rating to a "sell" rating in a research report on Monday, September 9th. Finally, Mizuho dropped their price target 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. Four research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company's stock. According to data from MarketBeat.com, CVR Energy currently has an average rating of "Reduce" and an average target price of $24.75.

Hedge Funds Weigh In On CVR Energy

Institutional investors have recently bought and sold shares of the business. Headlands Technologies LLC grew its stake in shares of CVR Energy by 820.5% during the second quarter. Headlands Technologies LLC now owns 1,482 shares of the oil and gas company's stock worth $40,000 after purchasing an additional 1,321 shares during the period. Future Financial Wealth Managment LLC bought a new stake in CVR Energy during the third quarter worth about $46,000. Covestor Ltd raised its holdings in CVR Energy by 45,560.0% during the first quarter. Covestor Ltd now owns 2,283 shares of the oil and gas company's stock worth $81,000 after acquiring an additional 2,278 shares in the last quarter. Quest Partners LLC increased its position in CVR Energy by 47.3% during the second quarter. Quest Partners LLC now owns 3,485 shares of the oil and gas company's stock worth $93,000 after buying an additional 1,119 shares during the last quarter. Finally, DRW Securities LLC acquired a new position in CVR Energy during the second quarter worth approximately $202,000. Institutional investors own 98.88% of the company's stock.

CVR Energy Trading Down 24.2 %

The business has a 50-day simple moving average of $23.73 and a two-hundred day simple moving average of $26.37. The company has a debt-to-equity ratio of 1.51, a current ratio of 1.46 and a quick ratio of 0.93. The stock has a market cap of $1.81 billion, a price-to-earnings ratio of 2.77 and a beta of 1.48.

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.