CVR Energy Sees Unusually High Options Volume (NYSE:CVI)

CVR Energy Inc. (NYSE:CVI) was the target of unusually large options trading activity on Friday. Investors acquired 2,181 call options on the company. This represents an increase of approximately 240% compared to the typical daily volume of 642 call options.

Analyst Ratings Changes

Several research firms have recently weighed in on CVI. Weiss Ratings cut CVR Energy from a “hold (c)” rating to a “sell (d)” rating in a research note on Friday, February 20th. Wall Street Zen cut CVR Energy from a “hold” rating to a “sell” rating in a research report on Saturday, February 21st. One research analyst has rated the stock with a Hold rating and five have given a Sell rating to the company’s stock. According to MarketBeat, CVR Energy presently has an average rating of “Strong Sell” and a consensus target price of $29.25.

CVR Energy Price Performance

Shares of CVR Energy stock opened at $26.83 on Friday. The company has a market capitalization of $2.70 billion, a price-to-earnings ratio of 103.20 and a beta of 1.12. The company has a quick ratio of 1.13, a current ratio of 1.79 and a debt-to-equity ratio of 1.95. The stock’s 50-day simple moving average is $23.74 and its 200-day simple moving average is $30.11. CVR Energy has a 52 week low of $15.10 and a 52 week high of $41.67.

CVR Energy (NYSE:CVI) last released its quarterly earnings data on Wednesday, February 18th. The oil and gas company reported ($0.80) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.84) by $0.04. The firm had revenue of $1.81 billion for the quarter, compared to analysts’ expectations of $1.70 billion. CVR Energy had a net margin of 0.38% and a negative return on equity of 14.31%. The company’s revenue for the quarter was down 7.0% compared to the same quarter last year. During the same quarter last year, the business posted ($0.13) earnings per share. As a group, analysts expect that CVR Energy will post -0.12 earnings per share for the current fiscal year.

CVR Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 9th. Stockholders of record on Monday, March 2nd will be given a dividend of $0.37 per share. The ex-dividend date of this dividend is Monday, March 2nd. This represents a $1.48 annualized dividend and a dividend yield of 5.5%.

Insiders Place Their Bets

In related news, major shareholder Carl C. Icahn purchased 275,012 shares of the business’s stock in a transaction that occurred on Tuesday, February 24th. The shares were bought at an average price of $21.41 per share, for a total transaction of $5,888,006.92. Following the purchase, the insider directly owned 71,201,875 shares of the company’s stock, valued at approximately $1,524,432,143.75. This represents a 0.39% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have bought a total of 783,404 shares of company stock valued at $16,445,044 in the last 90 days. 0.01% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On CVR Energy

Several hedge funds and other institutional investors have recently made changes to their positions in CVI. Caitong International Asset Management Co. Ltd grew its holdings in CVR Energy by 1,817.5% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 3,394 shares of the oil and gas company’s stock valued at $86,000 after purchasing an additional 3,217 shares during the last quarter. Invesco Ltd. boosted its position in shares of CVR Energy by 19.2% during the fourth quarter. Invesco Ltd. now owns 714,428 shares of the oil and gas company’s stock valued at $18,175,000 after buying an additional 115,219 shares during the period. Vident Advisory LLC boosted its position in shares of CVR Energy by 369.4% during the fourth quarter. Vident Advisory LLC now owns 30,822 shares of the oil and gas company’s stock valued at $784,000 after buying an additional 24,256 shares during the period. NewEdge Advisors LLC grew its stake in shares of CVR Energy by 5.6% during the fourth quarter. NewEdge Advisors LLC now owns 13,394 shares of the oil and gas company’s stock valued at $341,000 after buying an additional 709 shares during the last quarter. Finally, XTX Topco Ltd grew its stake in shares of CVR Energy by 348.6% during the fourth quarter. XTX Topco Ltd now owns 138,160 shares of the oil and gas company’s stock valued at $3,515,000 after buying an additional 107,364 shares during the last quarter. Hedge funds and other institutional investors own 98.88% of the company’s stock.

About CVR Energy

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.