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CVR Energy
(NYSE:CVI)
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Rating:50Neutral
Price Target:
$29.00
▼(-1.49% Downside)
Action:Reiterated
Date:06/06/26
CVI scores in the low-middle range primarily due to weak and highly cyclical financial performance (TTM loss and elevated leverage) despite still-positive cash generation. Technicals are mildly supportive, while valuation is challenged by negative earnings and only a modest dividend. The latest earnings call adds a mixed outlook: strong operations and liquidity, but significant RINs/RFS and hedge-driven volatility weighing on near-term results.
Positive Factors
High refinery and ammonia utilization
Sustained high utilization at refineries and ammonia plants indicates reliable operations and lower unit costs. Over months, strong throughput supports stable product supply, improves fixed-cost absorption, and underpins EBITDA resilience when market cracks recover.
Negative Factors
Elevated leverage and capital structure sensitivity
High leverage limits financial flexibility and raises refinancing and interest coverage risk in a cyclical refining environment. Persistent weak margins or regulatory costs could force asset sales or deferred capex, slowing deleveraging and reducing resilience to extended downturns.
Read all positive and negative factors
Positive Factors
Negative Factors
High refinery and ammonia utilization
Sustained high utilization at refineries and ammonia plants indicates reliable operations and lower unit costs. Over months, strong throughput supports stable product supply, improves fixed-cost absorption, and underpins EBITDA resilience when market cracks recover.
Read all positive factors
CVR Energy (CVI) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$3.09B
Dividend Yield10.5%
Average Volume (3M)935.48K
Price to Earnings (P/E)―
Beta (1Y)0.89
Revenue Growth1.38%
EPS Growth78.79%
CountryUS
Employees1,595
SectorEnergy
Sector Strength52
IndustryOil & Gas Refining & Marketing
Share Statistics
EPS (TTM)-0.41
Shares Outstanding100,530,600
10 Day Avg. Volume957,646
30 Day Avg. Volume935,479
Financial Highlights & Ratios
PEG Ratio0.33
Price to Book (P/B)3.50
Price to Sales (P/S)0.36
P/FCF Ratio-62.36
Enterprise Value/Market Cap1.32
Enterprise Value/Revenue0.54
Enterprise Value/Gross Profit38.05
Enterprise Value/Ebitda7.23
Forecast
1Y Price Target
$27.00Price Target Upside-8.29% Downside
Rating ConsensusStrong Sell
Number of Analyst Covering5
EPS Forecast (FY)-0.14
Revenue Forecast (FY)$8.27B
CVR Energy Business Overview & Revenue Model
Company Description
CVR Energy, Inc., a diversified company, operates through its subsidiaries primarily focusing on petroleum refining and the production of nitrogen fertilizers within the United States. Its business is organized into two distinct divisions: Petrole...
How the Company Makes Money
CVR Energy makes money primarily by refining crude oil and selling the resulting refined products. In its petroleum refining business, the company purchases crude oil and other feedstocks, processes them at its refineries, and sells outputs such a...
CVR Energy Earnings Call Summary
Earnings Call Date:Apr 29, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 03, 2026
Earnings Call Sentiment Neutral
The call presents a balanced picture: operational execution was strong (high utilization rates, improved fertilizer results, reinstated dividend, solid liquidity) and market fundamentals have improved since the onset of geopolitical disruptions. However, Q1 GAAP results were materially negative due largely to large unrealized derivative losses, substantial RINs/RFS related expense and mark-to-market volatility in hedges, and a weakened Petroleum adjusted EBITDA. Management emphasizes these are largely timing/market-driven items and highlights deleveraging plans and capital returns, but near-term financials remain impacted by market and regulatory headwinds.Positive Updates
Strong Refinery and Fertilizer Utilization
Crude utilization of 97% of nameplate capacity and ammonia utilization of 103% in Q1 2026, with both plants running well and minimal downtime.
Negative Updates
Large Consolidated GAAP Loss and Negative EBITDA
Consolidated net loss of $160 million and GAAP loss per share of $1.91 for Q1 2026; consolidated EBITDA was a loss of $52 million for the quarter.
Read all updates
Q1-2026 Updates
Positive
Negative
Strong Refinery and Fertilizer Utilization
Crude utilization of 97% of nameplate capacity and ammonia utilization of 103% in Q1 2026, with both plants running well and minimal downtime.
Read all positive updates
Company Guidance
Q2 guidance and capital-allocation targets: Petroleum throughput 200,000–215,000 bpd with Petroleum direct operating expenses $110–$120 million and Petroleum capex $35–$40 million; Fertilizer ammonia utilization 95%–100% with Fertilizer direct operating expenses (ex inventory/turnaround) $57–$62 million and Fertilizer capex $28–$32 million; full‑year consolidated capex $200–$240 million. Other key metrics discussed: consolidated cash $512 million at quarter end, total liquidity (ex‑CVR Partners) ~ $923 million (≈$384M cash + $539M ABL availability), Q1 cash flow from operations $64 million and free cash flow $21 million, Q1 dividend of $0.10 per share, CVR Partners declared $4.00/unit (CVR Energy’s share ≈$16M), and a gross leverage target of $1.0 billion (excluding CVR Partners).CVR Energy Financial Statement Overview
Summary
Income Statement
41
Neutral
Balance Sheet
45
Neutral
Cash Flow
52
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 7.50B | 7.16B | 7.61B | 9.25B | 10.90B | 7.24B |
| Gross Profit | 107.00M | 315.00M | 197.00M | 1.27B | 1.12B | 209.00M |
| EBITDA | 563.00M | 588.00M | 394.00M | 1.44B | 1.17B | 462.00M |
| Net Income | -42.00M | 27.00M | 7.00M | 769.00M | 463.00M | 25.00M |
Balance Sheet | ||||||
| Total Assets | 3.86B | 3.79B | 4.26B | 4.71B | 4.12B | 3.91B |
| Cash, Cash Equivalents and Short-Term Investments | 512.00M | 511.00M | 987.00M | 581.00M | 510.00M | 510.00M |
| Total Debt | 1.80B | 1.83B | 1.94B | 2.20B | 1.61B | 1.67B |
| Total Liabilities | 3.13B | 2.90B | 3.38B | 3.67B | 3.33B | 3.14B |
| Stockholders Equity | 538.00M | 730.00M | 703.00M | 847.00M | 531.00M | 553.00M |
Cash Flow | ||||||
| Free Cash Flow | 69.00M | -41.00M | 172.00M | 686.00M | 693.00M | 147.00M |
| Operating Cash Flow | 403.00M | 144.00M | 404.00M | 948.00M | 967.00M | 396.00M |
| Investing Cash Flow | -323.00M | -362.00M | -121.00M | -239.00M | -271.00M | -238.00M |
| Financing Cash Flow | -263.00M | -258.00M | -482.00M | -40.00M | -696.00M | -315.00M |
CVR Energy Technical Analysis
Positive
29.44
Price Trends
31.60
Negative
30.16
Positive
30.66
Positive
Market Momentum
-0.75
Negative
55.75
Neutral
79.53
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CVI, the sentiment is Positive. The current price of 29.44 is above the 20-day moving average (MA) of 28.67, below the 50-day MA of 31.60, and below the 200-day MA of 30.66, indicating a neutral trend. The MACD of -0.75 indicates Negative momentum. The RSI at 55.75 is Neutral, neither overbought nor oversold. The STOCH value of 79.53 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for CVI.
CVR Energy Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | $14.17B | 11.64 | 13.11% | 4.26% | -1.08% | ― | |
74 Outperform | $14.25B | 17.32 | 17.28% | 6.88% | 37.27% | -29.09% | |
65 Neutral | $15.17B | 7.61 | 4.09% | 5.20% | 3.87% | -62.32% | |
64 Neutral | $3.44B | 7.19 | 32.61% | ― | -2.52% | ― | |
61 Neutral | $3.44B | -64.47 | -37.66% | 3.42% | -6.49% | 93.38% | |
56 Neutral | $6.26B | 14.09 | 8.35% | 4.14% | -4.33% | ― | |
50 Neutral | $3.09B | -76.29 | -6.53% | 10.50% | 1.38% | 78.79% |
* Energy Sector Average
CVI
CVR Energy
31.28
-1.11
-3.44%
DK
Delek US Holdings
56.09
30.23
116.89%
DINO
HF Sinclair Corporation
77.52
33.16
74.75%
PBF
PBF Energy
53.31
26.34
97.68%
SUN
Sunoco
68.58
19.20
38.89%
PARR
Par Pacific Holdings
65.54
30.91
89.26%
CVR Energy Corporate Events
Business Operations and StrategyExecutive/Board Changes
CVR Energy Names New CEO Amid Strategic Transition
Neutral
Jun 23, 2026
On June 18, 2026, CVR Energy President and CEO Mark A. Pytosh resigned from his roles at the company and its controlled affiliate CVR Partners, under a separation agreement that provides $3 million in severance and shortens his non-compete to nine...
Executive/Board ChangesShareholder Meetings
CVR Energy Shareholders Endorse Board and Governance Framework
Positive
Jun 5, 2026
On June 4, 2026, CVR Energy, Inc. held its 2026 Annual Meeting of Stockholders, where investors voted on the election of ten directors, an advisory proposal on named executive officer compensation, and the ratification of the company’s indep...
Business Operations and StrategyRegulatory Filings and Compliance
CVR Energy Releases Updated Strategic Investor Presentation
Neutral
May 12, 2026
Beginning May 12, 2026, CVR Energy planned to use a new investor presentation in meetings with current and potential investors and analysts, providing an updated overview of its refining and fertilizer businesses and strategic priorities. The mate...
Business Operations and StrategyDividendsFinancial Disclosures
CVR Energy Posts Q1 2026 Loss Amid Derivative Headwinds
Negative
Apr 29, 2026
On April 29, 2026, CVR Energy reported a first-quarter 2026 net loss attributable to stockholders of $192 million, or $1.91 per diluted share, driven largely by $158 million in unrealized derivative losses, while adjusted EBITDA improved to $37 mi...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.