CVR Energy (NYSE:CVI) Issues Quarterly Earnings Results, Beats Estimates By $0.08 EPS

by · The Markets Daily

CVR Energy (NYSE:CVI – Get Free Report) announced its quarterly earnings data on Wednesday. The oil and gas company reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.08, FiscalAI reports. CVR Energy had a negative net margin of 0.56% and a negative return on equity of 22.36%. The firm had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $2.22 billion.

CVR Energy Stock Up 3.1%

NYSE:CVI traded up $1.06 during mid-day trading on Wednesday, hitting $34.80. The company had a trading volume of 992,962 shares, compared to its average volume of 1,183,804. The business has a fifty day simple moving average of $31.33 and a 200-day simple moving average of $29.24. The firm has a market capitalization of $3.50 billion, a price-to-earnings ratio of -80.92 and a beta of 0.83. CVR Energy has a 1 year low of $19.62 and a 1 year high of $41.67. The company has a current ratio of 1.44, a quick ratio of 0.89 and a debt-to-equity ratio of 2.41.

Wall Street Analyst Weigh In

Several research firms have issued reports on CVI. Wall Street Zen upgraded CVR Energy from a “sell” rating to a “hold” rating in a research report on Saturday, May 2nd. Weiss Ratings downgraded CVR Energy from a “sell (d+)” rating to a “sell (d-)” rating in a research report on Friday, May 15th. Scotiabank boosted their price objective on shares of CVR Energy from $25.00 to $28.00 and gave the company a “sector underperform” rating in a research report on Wednesday, April 22nd. UBS Group restated a “neutral” rating and set a $35.00 price objective on shares of CVR Energy in a report on Monday, June 29th. Finally, Zacks Research cut shares of CVR Energy from a “hold” rating to a “strong sell” rating in a research report on Monday, July 6th. Two equities research analysts have rated the stock with a Hold rating and six have issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Strong Sell” and an average target price of $30.25.

Read Our Latest Analysis on CVR Energy

Institutional Investors Weigh In On CVR Energy

A number of large investors have recently modified their holdings of CVI. Aster Capital Management DIFC Ltd purchased a new position in CVR Energy in the 4th quarter worth approximately $40,000. Quarry LP purchased a new stake in shares of CVR Energy during the third quarter valued at approximately $50,000. Raymond James Financial Inc. acquired a new position in shares of CVR Energy during the second quarter worth $53,000. BNP Paribas Financial Markets lifted its position in shares of CVR Energy by 48.0% during the second quarter. BNP Paribas Financial Markets now owns 3,633 shares of the oil and gas company’s stock worth $98,000 after purchasing an additional 1,178 shares in the last quarter. Finally, Quantbot Technologies LP purchased a new position in shares of CVR Energy in the second quarter valued at $114,000. Institutional investors and hedge funds own 98.88% of the company’s stock.

CVR Energy Company Profile

(Get Free Report)

CVR Energy, Inc is an independent downstream energy company engaged primarily in petroleum refining and nitrogen fertilizer production in the United States. Headquartered in Sugar Land, Texas, CVR Energy operates through two reportable segments—Petroleum Products and Nitrogen Fertilizers—leveraging its refining expertise and distribution network to serve both wholesale and retail markets across key regions in the U.S.

In its Petroleum Products segment, the company owns and operates the Coffeyville, Kansas refinery, which has the capability to process various grades of crude oil into gasoline, diesel, jet fuel and other refined products.

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