CVR Energy Inc (CVI)
NYSE:CVI
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CVR Energy
(NYSE:CVI)
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Rating:52Neutral
Price Target:
$34.00
▲(15.49% Upside)
Action:Reiterated
Date:04/30/26
The score is held back primarily by weak financial performance (TTM loss, thin/negative margins, and elevated leverage) and unfavorable valuation (very high P/E with a low yield). These are partially offset by constructive technical momentum (price above key moving averages with positive MACD) and a mixed but somewhat stabilizing earnings narrative (strong operations and liquidity versus ongoing RINs and hedging-related volatility).
Positive Factors
High Utilization
Sustained high refinery and ammonia utilization reflects reliable operations and strong throughput, which improves fixed-cost absorption and product availability. Over a multi-month horizon, durable high utilization supports margin recovery potential, steadier cash generation and operational credibility with customers.
Negative Factors
Elevated Leverage
High leverage leaves the company exposed to commodity-driven earnings volatility common in refining. Debt servicing and covenant pressure can constrain investment and capital returns if margins compress. Even with liquidity, reducing structural leverage will take multiple quarters and depend on sustained segment cash generation.
Read all positive and negative factors
Positive Factors
Negative Factors
High Utilization
Sustained high refinery and ammonia utilization reflects reliable operations and strong throughput, which improves fixed-cost absorption and product availability. Over a multi-month horizon, durable high utilization supports margin recovery potential, steadier cash generation and operational credibility with customers.
Read all positive factors
CVR Energy (CVI) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$3.37B
Dividend Yield10.5%
Average Volume (3M)965.10K
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)-0.42
Shares Outstanding100,530,600
10 Day Avg. Volume881,938
30 Day Avg. Volume965,096
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 Cap1.35
Enterprise Value/Revenue0.61
Enterprise Value/Gross Profit44.19
Enterprise Value/Ebitda12.37
Forecast
1Y Price Target
$29.75Price Target Upside1.05% Upside
Rating ConsensusStrong Sell
Number of Analyst Covering5
EPS Forecast (FY)0.99
Revenue Forecast (FY)$7.52B
CVR Energy Business Overview & Revenue Model
Company Description
CVR Energy, Inc., together with its subsidiaries, engages in the petroleum refining and nitrogen fertilizer manufacturing activities in the United States. It operates in two segments, Petroleum and Nitrogen Fertilizer. The Petroleum segment refine...
How the Company Makes Money
CVR Energy makes money mainly through two operating segments: (1) petroleum refining and marketing, and (2) nitrogen fertilizers. In refining, the company purchases crude oil and other feedstocks, processes them in its refineries, and sells refine...
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.
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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 | 103.00M | 315.00M | 197.00M | 1.27B | 1.12B | 209.00M |
| EBITDA | 368.00M | 570.00M | 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
Neutral
29.44
Price Trends
32.36
Negative
28.09
Positive
30.48
Positive
Market Momentum
0.49
Positive
45.43
Neutral
43.36
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CVI, the sentiment is Neutral. The current price of 29.44 is below the 20-day moving average (MA) of 33.43, below the 50-day MA of 32.36, and below the 200-day MA of 30.48, indicating a neutral trend. The MACD of 0.49 indicates Positive momentum. The RSI at 45.43 is Neutral, neither overbought nor oversold. The STOCH value of 43.36 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral 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 | $12.82B | 4.35 | 13.11% | 4.26% | -1.08% | ― | |
74 Outperform | $14.74B | 3.45 | 17.28% | 6.88% | 37.27% | -29.09% | |
65 Neutral | $15.17B | 7.61 | 4.09% | 5.20% | 3.87% | -62.32% | |
64 Neutral | $2.90B | 13.92 | 32.61% | ― | -2.52% | ― | |
57 Neutral | $4.62B | 7.04 | 8.35% | 4.14% | -4.33% | ― | |
55 Neutral | $2.58B | ― | -37.66% | 3.42% | -6.49% | 93.38% | |
52 Neutral | $3.37B | ― | -6.53% | 10.50% | 1.38% | 78.79% |
* Energy Sector Average
CVI
CVR Energy
32.45
9.02
38.50%
DK
Delek US Holdings
43.68
24.85
131.97%
DINO
HF Sinclair Corporation
69.91
35.61
103.84%
PBF
PBF Energy
40.21
20.60
105.03%
SUN
Sunoco
70.31
18.63
36.05%
PARR
Par Pacific Holdings
58.83
36.93
168.63%
CVR Energy Corporate Events
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...
Business Operations and StrategyRegulatory Filings and Compliance
CVR Energy Updates Investors With New Strategic Presentation
Neutral
Feb 24, 2026
Beginning February 24, 2026, CVR Energy plans to use a new investor presentation in meetings with current and potential investors and analysts, positioning it as supplementary information rather than a formal securities filing. The company stresse...
Business Operations and StrategyDividendsFinancial DisclosuresPrivate Placements and Financing
CVR Energy Posts Q4 Loss But Strong 2025 EBITDA
Neutral
Feb 18, 2026
CVR Energy reported a net loss attributable to stockholders of $110 million for the fourth quarter of 2025 and net income of $27 million for the full year, with quarterly results hit by $62 million of accelerated depreciation tied to reverting the...
Business Operations and StrategyPrivate Placements and Financing
CVR Energy Boosts Liquidity with New Note Issuances
Positive
Feb 12, 2026
On February 12, 2026, CVR Energy, Inc. issued $600 million of 7.500% Senior Notes due 2031 and $400 million of 7.875% Senior Notes due 2034 in a private offering, with the notes guaranteed on a senior unsecured basis by most of its domestic subsid...
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.