CVR Energy, Inc. (NYSE:CVI) Sees Large Increase in Short Interest

CVR Energy, Inc. (NYSE:CVI - Get Free Report) was the recipient of a significant increase in short interest in the month of June. As of June 15th, there was short interest totalling 7,250,000 shares, an increase of 13.6% from the May 31st total of 6,380,000 shares. Currently, 7.2% of the shares of the company are sold short. Based on an average daily volume of 962,000 shares, the days-to-cover ratio is presently 7.5 days.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on CVI. UBS Group cut their price objective on CVR Energy from $37.00 to $33.75 and set a "neutral" rating for the company in a report on Tuesday, May 14th. Scotiabank raised their target price on CVR Energy from $25.00 to $29.00 and gave the company a "sector underperform" rating in a research note on Thursday, April 11th. Finally, StockNews.com lowered CVR Energy from a "buy" rating to a "hold" rating in a research note on Sunday, June 16th.

CVR Energy Price Performance

Shares of NYSE:CVI traded down $0.42 during midday trading on Monday, reaching $26.35. The company's stock had a trading volume of 1,164,345 shares, compared to its average volume of 955,206. CVR Energy has a fifty-two week low of $26.16 and a fifty-two week high of $39.36. The company has a market capitalization of $2.65 billion, a P/E ratio of 4.04 and a beta of 1.54. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.49 and a quick ratio of 0.91. The business's fifty day simple moving average is $28.68 and its 200-day simple moving average is $31.68.

CVR Energy (NYSE:CVI - Get Free Report) last announced its quarterly earnings data on Monday, April 29th. The oil and gas company reported $0.04 EPS for the quarter, missing analysts' consensus estimates of $0.13 by ($0.09). The firm had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.96 billion. CVR Energy had a return on equity of 40.14% and a net margin of 7.44%. CVR Energy's revenue for the quarter was down 18.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.44 earnings per share. As a group, equities research analysts expect that CVR Energy will post 0.95 EPS for the current fiscal year.

CVR Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, May 20th. Investors of record on Monday, May 13th were given a $0.50 dividend. The ex-dividend date of this dividend was Friday, May 10th. This represents a $2.00 dividend on an annualized basis and a yield of 7.59%. CVR Energy's payout ratio is 30.67%.

Institutional Trading of CVR Energy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CVI. Jones Financial Companies Lllp bought a new position in CVR Energy during the 4th quarter worth approximately $33,000. Future Financial Wealth Managment LLC acquired a new position in shares of CVR Energy in the 1st quarter valued at $71,000. Covestor Ltd increased its position in shares of CVR Energy by 45,560.0% in the 1st quarter. Covestor Ltd now owns 2,283 shares of the oil and gas company's stock valued at $81,000 after buying an additional 2,278 shares in the last quarter. Scarborough Advisors LLC acquired a new stake in CVR Energy during the 4th quarter worth $89,000. Finally, TFO Wealth Partners LLC lifted its holdings in CVR Energy by 246,550.0% during the fourth quarter. TFO Wealth Partners LLC now owns 4,933 shares of the oil and gas company's stock worth $149,000 after acquiring an additional 4,931 shares in the last quarter. 98.88% of the stock is currently owned by institutional investors and hedge funds.

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.