CVR Energy (NYSE:CVI) Shares Down 5.4% After Earnings Miss

CVR Energy, Inc. (NYSE:CVI)’s share price dropped 5.4% on Tuesday following a dissappointing earnings announcement. The company traded as low as $31.28 and last traded at $31.32. Approximately 294,940 shares traded hands during trading, a decline of 66% from the average daily volume of 876,181 shares. The stock had previously closed at $33.12.

The oil and gas company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.09). CVR Energy had a net margin of 8.32% and a return on equity of 55.17%. The company had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.96 billion. During the same quarter last year, the firm posted $1.44 EPS. The company’s quarterly revenue was down 18.5% on a year-over-year basis.

CVR Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Monday, March 4th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Friday, March 1st. This represents a $2.00 annualized dividend and a dividend yield of 6.30%. CVR Energy’s payout ratio is 26.14%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on CVI shares. Scotiabank increased their price target on CVR Energy from $25.00 to $29.00 and gave the stock a “sector underperform” rating in a report on Thursday, April 11th. StockNews.com lowered CVR Energy from a “buy” rating to a “hold” rating in a research report on Friday, February 23rd.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in CVR Energy by 12.1% in the fourth quarter. Vanguard Group Inc. now owns 3,934,944 shares of the oil and gas company’s stock worth $119,229,000 after purchasing an additional 424,348 shares in the last quarter. Norges Bank bought a new stake in shares of CVR Energy during the 4th quarter valued at about $11,567,000. Jacobs Levy Equity Management Inc. grew its position in shares of CVR Energy by 57.7% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 924,541 shares of the oil and gas company’s stock valued at $31,462,000 after acquiring an additional 338,393 shares during the period. Tudor Investment Corp Et Al bought a new position in shares of CVR Energy in the third quarter worth about $8,875,000. Finally, Premier Fund Managers Ltd purchased a new position in CVR Energy during the third quarter valued at approximately $5,838,000. Institutional investors own 98.88% of the company’s stock.

CVR Energy Price Performance

The company has a current ratio of 1.30, a quick ratio of 0.94 and a debt-to-equity ratio of 1.52. The firm has a market cap of $3.19 billion, a PE ratio of 4.33 and a beta of 1.57. The stock has a 50 day simple moving average of $34.44 and a 200-day simple moving average of $32.80.

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.