CVR Energy (NYSE:CVI) Stock Price Down 2.3% – Here’s What Happened

Shares of CVR Energy, Inc. (NYSE:CVI) dropped 2.3% on Monday . The company traded as low as $21.00 and last traded at $20.72. Approximately 23,695 shares changed hands during mid-day trading, a decline of 98% from the average daily volume of 1,183,822 shares. The stock had previously closed at $21.20.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. StockNews.com raised CVR Energy from a “sell” rating to a “hold” rating in a report on Wednesday, February 19th. The Goldman Sachs Group reduced their price target on shares of CVR Energy from $24.00 to $21.00 and set a “sell” rating on the stock in a research note on Friday, December 6th. Finally, Mizuho upped their price objective on shares of CVR Energy from $18.00 to $20.00 and gave the stock a “neutral” rating in a research report on Monday, December 16th. Five investment analysts have rated the stock with a sell rating and three have issued a hold rating to the company’s stock. According to MarketBeat.com, CVR Energy presently has an average rating of “Reduce” and an average price target of $23.00.

CVR Energy Trading Down 3.0 %

The company has a current ratio of 1.66, a quick ratio of 0.86 and a debt-to-equity ratio of 2.15. The firm’s 50-day moving average is $19.61 and its 200 day moving average is $20.25. The firm has a market capitalization of $2.07 billion, a price-to-earnings ratio of 342.72 and a beta of 1.55.

CVR Energy (NYSE:CVI) last posted its quarterly earnings data on Tuesday, February 18th. The oil and gas company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.12). The company had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.85 billion. CVR Energy had a net margin of 0.09% and a negative return on equity of 5.12%. On average, equities analysts predict that CVR Energy, Inc. will post -0.12 earnings per share for the current fiscal year.

Insider Transactions at CVR Energy

In other news, major shareholder Carl C. Icahn purchased 3,610 shares of the business’s stock in a transaction on Friday, February 28th. The shares were acquired at an average price of $18.24 per share, with a total value of $65,846.40. Following the completion of the transaction, the insider now owns 67,574,203 shares of the company’s stock, valued at $1,232,553,462.72. The trade was a 0.01 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders purchased 1,492,540 shares of company stock worth $27,049,928 over the last ninety days. 0.01% of the stock is owned by insiders.

Institutional Investors Weigh In On CVR Energy

Institutional investors and hedge funds have recently made changes to their positions in the business. GF Fund Management CO. LTD. acquired a new position in CVR Energy in the fourth quarter valued at approximately $198,000. GTS Securities LLC acquired a new position in shares of CVR Energy during the 4th quarter valued at $197,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in CVR Energy by 1.7% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 60,282 shares of the oil and gas company’s stock valued at $1,130,000 after purchasing an additional 1,035 shares in the last quarter. Two Sigma Investments LP raised its holdings in shares of CVR Energy by 56.2% during the fourth quarter. Two Sigma Investments LP now owns 750,195 shares of the oil and gas company’s stock valued at $14,059,000 after purchasing an additional 269,763 shares during the period. Finally, Thomist Capital Management LP bought a new stake in CVR Energy in the 4th quarter valued at about $781,000. 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.