CVR Energy (NYSE:CVI) Posts Quarterly Earnings Results, Beats Expectations By $0.12 EPS

CVR Energy (NYSE:CVIGet Rating) announced its earnings results on Monday. The oil and gas company reported $0.02 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.10) by $0.12, MarketWatch Earnings reports. CVR Energy had a net margin of 0.35% and a negative return on equity of 24.83%. During the same period in the prior year, the company earned ($1.33) EPS.

NYSE:CVI opened at $25.46 on Tuesday. CVR Energy has a fifty-two week low of $11.22 and a fifty-two week high of $29.26. The company has a market cap of $2.56 billion, a PE ratio of 106.08 and a beta of 1.69. The company has a quick ratio of 0.77, a current ratio of 1.18 and a debt-to-equity ratio of 2.15. The firm has a 50-day moving average price of $23.41.

Several brokerages have recently weighed in on CVI. Zacks Investment Research raised shares of CVR Energy from a “hold” rating to a “buy” rating and set a $27.00 target price on the stock in a research note on Tuesday, April 26th. Scotiabank upgraded shares of CVR Energy from a “sector underperform” rating to a “sector perform” rating and upped their price target for the stock from $12.00 to $20.00 in a report on Thursday, January 13th. Wolfe Research upgraded shares of CVR Energy from a “peer perform” rating to an “outperform” rating and set a $25.00 price target on the stock in a report on Friday, January 7th. Credit Suisse Group upped their price target on shares of CVR Energy from $21.00 to $26.00 and gave the stock a “neutral” rating in a report on Monday, March 14th. Finally, StockNews.com assumed coverage on shares of CVR Energy in a report on Thursday, March 31st. They issued a “hold” rating on the stock. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $21.11.

Several large investors have recently added to or reduced their stakes in CVI. Royal Bank of Canada boosted its holdings in shares of CVR Energy by 57.1% in the 2nd quarter. Royal Bank of Canada now owns 6,840 shares of the oil and gas company’s stock valued at $122,000 after buying an additional 2,487 shares in the last quarter. Morgan Stanley boosted its holdings in shares of CVR Energy by 1,274.0% in the 2nd quarter. Morgan Stanley now owns 294,960 shares of the oil and gas company’s stock valued at $5,298,000 after buying an additional 273,492 shares in the last quarter. UBS Group AG boosted its holdings in shares of CVR Energy by 15.9% in the 3rd quarter. UBS Group AG now owns 105,638 shares of the oil and gas company’s stock valued at $1,760,000 after buying an additional 14,485 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of CVR Energy by 7.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 127,609 shares of the oil and gas company’s stock valued at $2,126,000 after buying an additional 8,631 shares in the last quarter. Finally, Rhumbline Advisers boosted its holdings in shares of CVR Energy by 1.8% in the 4th quarter. Rhumbline Advisers now owns 42,281 shares of the oil and gas company’s stock valued at $711,000 after buying an additional 760 shares in the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

About CVR Energy (Get Rating)

CVR Energy, Inc, together with its subsidiaries, engages in the petroleum refining and nitrogen fertilizer manufacturing activities in the United States. It operates in two segments, Petroleum and Nitrogen Fertilizer. The Petroleum segment refines and markets gasoline, diesel fuel, and other refined products.

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Earnings History for CVR Energy (NYSE:CVI)

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