Healthy Upside Potential: CVR Energy Inc. (CVI)

CVR Energy Inc. (NYSE: CVI) stock jumped 0.26% on Monday to $34.64 against a previous-day closing price of $34.55. With 0.73 million shares changed hands, the volume of the stock remained lighter than its average volume of 1.1 million shares. During the session, the Oil & Gas Refining & Marketing company that operates in wider Energy sector, reached to the highest price of $35.39 whereas the lowest price it dropped to was $34.50. The 52-week range on CVI shows that it touched its highest point at $40.16 and its lowest point at $22.00 during that stretch. It currently has a 1-year price target of $32.67. With its current market cap of 3.55 billion, CVI has annualized dividend of $2.00 while the current yield stands at 5.77%. Beta for the stock currently stands at 1.61.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of CVI was down-trending over the past week, with a drop of -6.48%, but this was down by -0.37% over a month. Three-month performance surged to 28.44% while six-month performance rose 19.51%. The stock gained 23.38% in the past year, while it has gained 13.56% so far this year. A look at the trailing 12-month EPS for CVI yields 5.27 with Next year EPS estimates of 2.76. For the next quarter, that number is 1.63. This implies an EPS growth rate of -6.60% for this year and -51.14% for next year.

Float and Shares Shorts:

At present, 100.50 million CVI shares are outstanding with a float of 33.83 million shares on hand for trading. On Aug 30, 2023, short shares totaled 6.15 million, which was 6.11% higher than short shares on Jul 30, 2023. In addition to Mr. David L. Lamp as the firm’s Pres, CEO & Director, Mr. Dane J. Neumann serves as its Exec. VP, CFO, Treasurer & Assistant Sec.

Institutional Ownership:

Through their ownership of 101.85% of CVI’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 79.66% of CVI, in contrast to 73.66% held by mutual funds. Shares owned by individuals account for 22.11%. As the largest shareholder in CVI with 66.34% of the stake, Icahn Associates Holding LLC holds 66,692,381 shares worth 66,692,381. A second-largest stockholder of CVI, BlackRock Fund Advisors, holds 4,578,158 shares, controlling over 4.55% of the firm’s shares. The Vanguard Group, Inc. is the third largest shareholder in CVI, holding 3,484,860 shares or 3.47% stake. With a 2.30% stake in CVI, the Pacer Fds. Tr. – US Small Cap Cas is the largest stakeholder. A total of 2,307,550 shares are owned by the mutual fund manager. The iShares Core S&P Small Cap ETF, which owns about 2.05% of CVI stock, is the second-largest Mutual Fund holder. It holds 2,058,692 shares valued at 67.32 million. SPDR S&P Oil & Gas Exploration & holds 1.70% of the stake in CVI, owning 1,706,462 shares worth 55.8 million.

An Overview of Recent Financials:

Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Jun 29, 2023, CVI reported revenue of $3.14B and operating income of $402.00M. The EBITDA in the recently reported quarter was $330.00M and diluted EPS was $1.64.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for CVI since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With CVI analysts setting a high price target of $37.00 and a low target of $28.00, the average target price over the next 12 months is $32.20. Based on these targets, CVI could surge 6.81% to reach the target high and fall by -19.17% to reach the target low. Reaching the average price target will result in a decline of -7.04% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.

Summary of Insider Activity:

Insiders traded CVI stock several times over the past three months with 1 Buys and 1 Sells. In these transactions, 465 shares were bought while 465 shares were sold. The number of buy transactions has increased to 21 while that of sell transactions has risen to 21 over the past year. The total number of shares bought during that period was 186,038 while 186,038 shares were sold.

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