CVR Energy (NYSE:CVI) Announces Earnings Results, Beats Expectations By $0.39 EPS

CVR Energy (NYSE:CVI) released its quarterly earnings results on Monday. The oil and gas company reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.39, Briefing.com reports. The firm had revenue of $1.97 billion during the quarter, compared to analysts’ expectations of $1.80 billion. CVR Energy had a return on equity of 24.74% and a net margin of 6.39%. The business’s revenue was down 12.0% on a year-over-year basis. During the same period last year, the firm posted $1.64 EPS.

CVR Energy Trading Down 0.5 %

Shares of NYSE:CVI traded down $0.13 during midday trading on Wednesday, hitting $28.60. The company had a trading volume of 2,527,362 shares, compared to its average volume of 990,821. CVR Energy has a 12 month low of $23.93 and a 12 month high of $39.36. The company has a current ratio of 1.49, a quick ratio of 0.91 and a debt-to-equity ratio of 1.48. The stock has a market cap of $2.88 billion, a price-to-earnings ratio of 4.39 and a beta of 1.54. The firm has a fifty day simple moving average of $26.66 and a 200 day simple moving average of $30.85.

CVR Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, August 19th. Stockholders of record on Monday, August 12th will be given a $0.50 dividend. The ex-dividend date is Monday, August 12th. This represents a $2.00 annualized dividend and a dividend yield of 6.99%. CVR Energy’s dividend payout ratio is currently 30.67%.

Analysts Set New Price Targets

A number of brokerages have commented on CVI. JPMorgan Chase & Co. decreased their price objective on CVR Energy from $30.00 to $26.00 and set an “underweight” rating on the stock in a research report on Tuesday, July 2nd. Scotiabank increased their price objective on CVR Energy from $24.00 to $25.00 and gave the company a “sector underperform” rating in a research report on Wednesday. Mizuho began coverage on CVR Energy in a research report on Wednesday, July 17th. They issued a “neutral” rating and a $27.00 price objective on the stock. StockNews.com lowered CVR Energy from a “buy” rating to a “hold” rating in a research report on Sunday, June 16th. Finally, UBS Group decreased their price objective on CVR Energy from $37.00 to $33.75 and set a “neutral” rating on the stock in a research report on Tuesday, May 14th. Three analysts have rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $28.55.

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.