CVR Energy (NYSE:CVI) Announces Earnings Results, Misses Estimates By $0.41 EPS

CVR Energy (NYSE:CVI) released its earnings results on Monday. The oil and gas company reported ($0.50) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.41), Briefing.com reports. The company had revenue of $1.83 billion for the quarter, compared to analyst estimates of $1.91 billion. CVR Energy had a return on equity of 25.00% and a net margin of 6.39%. The company’s revenue for the quarter was down 27.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.89 earnings per share.

CVR Energy Stock Performance

Shares of CVR Energy stock traded down $0.33 on Thursday, hitting $16.78. The stock had a trading volume of 550,974 shares, compared to its average volume of 1,085,429. The stock has a market cap of $1.69 billion, a price-to-earnings ratio of 24.79 and a beta of 1.48. The company has a current ratio of 1.46, a quick ratio of 0.93 and a debt-to-equity ratio of 1.51. CVR Energy has a 52-week low of $16.61 and a 52-week high of $38.07. The company’s 50 day moving average price is $23.58 and its 200 day moving average price is $26.31.

Wall Street Analyst Weigh In

CVI has been the subject of several recent research reports. StockNews.com cut CVR Energy from a “hold” rating to a “sell” rating in a research note on Wednesday. Mizuho lowered their price target on shares of CVR Energy from $27.00 to $25.00 and set a “neutral” rating for the company in a report on Monday, September 16th. UBS Group reduced their price objective on shares of CVR Energy from $33.75 to $30.00 and set a “neutral” rating on the stock in a report on Tuesday, August 13th. Tudor, Pickering, Holt & Co. downgraded shares of CVR Energy from a “hold” rating to a “sell” rating in a research note on Monday, September 9th. Finally, JPMorgan Chase & Co. cut their price target on CVR Energy from $26.00 to $23.00 and set an “underweight” rating on the stock in a research note on Wednesday, October 2nd. Five equities research analysts have rated the stock with a sell rating and two have given a hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average target price of $24.75.

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.