CVR Energy (CVI) Announces Earnings Results

CVR Energy (NYSE:CVI) released its quarterly earnings results on Wednesday. The oil and gas company reported $1.00 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.49, Morningstar.com reports. CVR Energy had a return on equity of 14.08% and a net margin of 4.06%. The firm had revenue of $1.49 billion during the quarter.

CVR Energy stock traded down $0.58 during mid-day trading on Friday, hitting $45.24. 12,118 shares of the company’s stock traded hands, compared to its average volume of 515,777. CVR Energy has a fifty-two week low of $30.46 and a fifty-two week high of $47.67. The company has a market capitalization of $4.38 billion, a price-to-earnings ratio of 15.96 and a beta of 1.22. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.61 and a quick ratio of 1.84.

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 13th. Shareholders of record on Monday, May 6th will be issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 6.63%. The ex-dividend date of this dividend is Friday, May 3rd.

Hedge funds have recently bought and sold shares of the business. Penserra Capital Management LLC bought a new position in CVR Energy during the 4th quarter worth $29,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of CVR Energy by 125.7% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,523 shares of the oil and gas company’s stock worth $87,000 after purchasing an additional 1,405 shares during the period. SG Americas Securities LLC bought a new position in shares of CVR Energy in the fourth quarter worth $101,000. Quantamental Technologies LLC bought a new position in shares of CVR Energy in the fourth quarter worth $138,000. Finally, QS Investors LLC increased its position in shares of CVR Energy by 20,833.3% in the fourth quarter. QS Investors LLC now owns 5,024 shares of the oil and gas company’s stock worth $174,000 after purchasing an additional 5,000 shares during the period. Hedge funds and other institutional investors own 91.78% of the company’s stock.

Several equities research analysts have recently commented on CVI shares. Citigroup cut their price objective on CVR Energy from $44.00 to $43.00 and set a “buy” rating for the company in a report on Monday, March 4th. Wolfe Research began coverage on CVR Energy in a report on Monday, January 28th. They set a “market perform” rating and a $38.00 price target for the company. Finally, Barclays began coverage on CVR Energy in a report on Thursday, January 24th. They set an “underweight” rating and a $47.00 price target for the company. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $42.60.

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CVR Energy Company Profile

CVR Energy, Inc, through its subsidiaries, engages in petroleum refining and nitrogen fertilizer manufacturing activities in the United States. The company operates in Petroleum and Nitrogen Fertilizer segments. The Petroleum segment refines and markets transportation fuels, such as gasoline, diesel fuel, and other refined products.

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Earnings History for CVR Energy (NYSE:CVI)

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