CVR Energy (NYSE:CVI) Shares Gap Up – Time to Buy?

CVR Energy, Inc. (NYSE:CVI)’s stock price gapped up before the market opened on Friday . The stock had previously closed at $18.32, but opened at $18.95. CVR Energy shares last traded at $19.02, with a volume of 175,908 shares trading hands.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on CVI shares. The Goldman Sachs Group reduced 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. Mizuho reduced their target price on CVR Energy from $27.00 to $25.00 and set a “neutral” rating for the company in a research note on Monday, September 16th. UBS Group dropped their price target on shares of CVR Energy from $33.75 to $30.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 13th. StockNews.com upgraded shares of CVR Energy from a “sell” rating to a “hold” rating in a research report on Friday. Finally, Tudor Pickering upgraded shares of CVR Energy to a “strong sell” rating in a research report on Monday, September 9th. Five 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, the stock currently has an average rating of “Reduce” and a consensus target price of $24.00.

CVR Energy Stock Up 2.5 %

The company has a market cap of $1.89 billion, a PE ratio of 27.22 and a beta of 1.57. The business has a fifty day simple moving average of $20.76 and a two-hundred day simple moving average of $23.92. The company has a current ratio of 1.33, a quick ratio of 0.86 and a debt-to-equity ratio of 1.84.

CVR Energy (NYSE:CVI) last posted its quarterly earnings results on Monday, October 28th. The oil and gas company reported ($0.50) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.41). The business had revenue of $1.83 billion during the quarter, compared to analysts’ expectations of $1.91 billion. CVR Energy had a return on equity of 2.88% and a net margin of 0.89%. The business’s quarterly revenue was down 27.3% on a year-over-year basis. During the same period in the prior year, the business posted $1.89 earnings per share. As a group, equities research analysts predict that CVR Energy, Inc. will post -0.12 earnings per share for the current year.

Institutional Investors Weigh In On CVR Energy

A number of large investors have recently made changes to their positions in CVI. State Street Corp boosted its stake in 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 buying an additional 317,475 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of CVR Energy by 2.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,072,334 shares of the oil and gas company’s stock valued at $55,476,000 after acquiring an additional 44,636 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of CVR Energy by 0.3% in the second quarter. Bank of New York Mellon Corp now owns 975,323 shares of the oil and gas company’s stock valued at $26,109,000 after purchasing an additional 3,134 shares during the period. SIR Capital Management L.P. acquired a new stake in CVR Energy during the second quarter worth about $17,907,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in CVR Energy by 14.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 639,138 shares of the oil and gas company’s stock valued at $14,719,000 after purchasing an additional 81,590 shares during the last quarter. 98.88% of the stock is currently owned by hedge funds and other institutional investors.

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.