CVR Energy (NYSE:CVI) Shares Gap Up – Here’s Why

Shares of CVR Energy, Inc. (NYSE:CVI) gapped up before the market opened on Wednesday . The stock had previously closed at $18.49, but opened at $20.71. CVR Energy shares last traded at $21.79, with a volume of 326,047 shares.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on CVI shares. Mizuho upped their target price on CVR Energy from $18.00 to $20.00 and gave the company a “neutral” rating in a research note on Monday, December 16th. The Goldman Sachs Group lowered 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 upgraded shares of CVR Energy from a “sell” rating to a “hold” rating in a report on Wednesday. Five equities research analysts have rated the stock with a sell rating and three have given a hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average price target of $23.00.

CVR Energy Trading Up 0.7 %

The company has a market capitalization of $2.04 billion, a PE ratio of 338.97 and a beta of 1.57. The company has a debt-to-equity ratio of 1.84, a quick ratio of 0.86 and a current ratio of 1.33. The business has a fifty day moving average price of $19.19 and a 200 day moving average price of $21.12.

CVR Energy (NYSE:CVI) last posted its quarterly earnings results on Tuesday, February 18th. The oil and gas company reported ($0.13) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.12). The business had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $1.85 billion. CVR Energy had a net margin of 0.09% and a negative return on equity of 4.99%. Analysts expect that CVR Energy, Inc. will post -0.12 EPS for the current fiscal year.

Insider Activity at CVR Energy

In related news, major shareholder Carl C. Icahn purchased 878,212 shares of the firm’s stock in a transaction on Wednesday, January 8th. The stock was purchased at an average price of $18.25 per share, for a total transaction of $16,027,369.00. Following the acquisition, the insider now directly owns 67,570,593 shares in the company, valued at $1,233,163,322.25. The trade was a 1.32 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.01% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in CVR Energy by 3.9% during the 4th quarter. Vanguard Group Inc. now owns 4,135,315 shares of the oil and gas company’s stock worth $77,496,000 after buying an additional 154,125 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of CVR Energy by 12.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,181,295 shares of the oil and gas company’s stock valued at $40,876,000 after acquiring an additional 238,081 shares in the last quarter. State Street Corp increased its position in shares of CVR Energy by 18.1% during the third quarter. State Street Corp now owns 2,075,058 shares of the oil and gas company’s stock worth $47,789,000 after acquiring an additional 317,475 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of CVR Energy by 22.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 783,079 shares of the oil and gas company’s stock worth $14,675,000 after acquiring an additional 143,941 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. boosted its holdings in CVR Energy by 36.6% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 776,313 shares of the oil and gas company’s stock valued at $14,548,000 after purchasing an additional 207,872 shares during the last quarter. 98.88% of the stock is 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.