Advertisement
Advertisement
U.S. markets closed
Advertisement
Advertisement
Advertisement
Advertisement

CVR Energy, Inc. (CVI)

NYSE - NYSE Delayed Price. Currency in USD
Add to watchlist
15.91-0.44 (-2.69%)
At close: 04:00PM EST
15.91 0.00 (0.00%)
After hours: 06:03PM EST
Advertisement
Sign in to post a message.
  • a
    austy
    Unbelievable how fast it has gone down in two weeks! I wished I sold all of my shares before earning report. I lost big time! Now I hope it will go up a bit for me to get rid of my holding. I thought Icahn has had a big holding in this company so it would be a safe investment! How wrong I am from $40./share to $16./share.
  • L
    Lucifer
    I'm still trying to digest CVI's earnings report but I keep regurgitating it. Several items just don't make any sense to me. How is it that they ran a great daily throughput rate with a $15.00+ crack spread with rising oil and gas prices, almost double the sales and $174 million gain in net profits over Q3, 2020 and the cheese cupboard is left empty for us investors? How do they explain this: " recognized a third quarter 2021 derivative net loss of $12 million, or 63 cents per total throughput barrel, compared to a derivative gain of $5 million, or 27 cents per total throughput barrel, for the third quarter of 2020. Included in this derivative net loss for the third quarter of 2021 was a $22 million unrealized gain, compared to a $1 million unrealized gain for the third quarter of 2020."
    They had rising crude prices throughout the third quarter which led to a "favorable inventory valuation impact of $8 million" ... and yet, "The Petroleum Segment also recognized a third quarter 2021 derivative net loss of $12 million, or 63 cents per total throughput barrel, compared to a derivative gain of $5 million, or 27 cents per total throughput barrel, for the third quarter of 2020."
    They also reported.... "For the third quarter 2021, costs to comply with the Renewable Fuel Standard resulted in a benefit of $16 million, or 81 cents per total throughput barrel, which included a $115 million favorable revaluation of our RINs as of September 30, 2021, compared to an expense of $36 million, or $1.96 per total throughput barrel, for the third quarter of 2020, which included a $2 million unfavorable revaluation of our RINs as of September 30, 2020."
    Me thinks Mr. Lamp has some splaining to do tomorrow. The earnings report was full of positives and the refining environment in Q3 was nearly ideal and yet they book a loss and continue to withhold our dividend.
    Not a happy camper this evening. No cheese for me, no cheers for you!
    "Lets go CVI"
  • D
    Diane
    My goal is $30/share by end of 2022....
    Bullish
  • A
    Anthony
    Non controlling interest disclosures must be relating to CVI interest in UAN and how it’s been accounting for this investment in the past. My guess is that with UAN now paying dividends the past accounting method was no longer acceptable?
  • B
    Bob
    They are choking off the domestic oil and taxing NG to reduce demand.

    The prices for both will go up, but the infrastructure bill(s) are going to ramp up alt energy sources and vehicles in the effort to go green.

    If it is successful this stock will suffer.
  • b
    brad
    The numbers look great but what is going on with this special dividend to CVR Partners again? How much does it cost in $$s?
  • t
    tom
    Oct 18 (Reuters) - U.S. refiners are expected to show higher earnings for the third quarter as margins to sell gasoline and diesel have improved despite the surging cost of crude oil, analysts said.
    After more than a year of depressed fuel demand, gasoline and distillate consumption is back in line with five-year averages in the United States, the world's largest fuel consumer. That has boosted margins on refined products to more than double what those companies were making at this time a year ago.
    The seven largest independent U.S. refining companies, including giants Marathon Petroleum (MPC.N) and Valero Energy (VLO.N), are projected to post an average earnings-per-share gain of 66 cents, versus a loss of $1.32 for the third quarter of 2020, according to IBES data from Refinitiv. (GRAPHIC: https://graphics.reuters.com/USA-REFINERIES/EARNINGS-OUTLOOK/mopanjqyzva/)
    Those gains are driven by the 3-2-1 crack spread, a proxy for refining margins, which assumes a barrel of crude oil is refined to three parts gasoline, two parts diesel and one part jet fuel. That spread is currently at $21 per barrel, compared with around $9 a year ago.

    Energy demand has recovered swiftly from the worst days of the pandemic in 2020, and Brent and U.S. crude oil prices have reached multi-year highs in recent days. But product demand has also increased, and that has helped boost margins.
    Product supplied - a proxy for U.S. refined product demand - was 21.5 million barrels per day in the most recent week, slightly higher than the same period in 2019, prior to the onset of the pandemic, according to the U.S. Energy Information Administration (EIA).
    "The market is getting back in equilibrium," Credit Suisse analyst Manav Gupta said in a note.
    Refiners are also benefiting from lower inventories of their products as recent storms and the pandemic knocked refining capacity offline. Approximately 2.5 million barrels per day of refining capacity has been shut since the start of the pandemic, which is almost four times the 10-year average, according to Credit Suisse's Gupta.

    Delta Air Lines' refinery in Monroe, Pennsylvania, earned nearly $100 million last quarter, its first positive results since the first quarter of 2020, according to figures released last week. Tudor Pickering Holt analysts cited strong gasoline and diesel crack spreads as helping the refiner recover.
    Jet fuel demand is still below pre-pandemic levels, but international flights are expected to resume to Europe in November. The spot price of U.S. Gulf Coast kerosene-type jet fuel is $2.10 dollars per gallon, the highest since October 2018, despite demand still 12% below 2018 levels, per EIA data.
    Analysts have also been raising estimates for refiners such as PBF Energy and Hollyfrontier due to declining costs of complying with the nation's biofuels laws. Refiners are required to blend ethanol into the nation's gasoline pool or buy credits for others who can.
    The cost of those credits declined sharply in the third quarter. Reuters reported in September that the U.S. Environmental Protection Agency is expected to recommend reducing federal biofuel blending mandates for 2021 to below 2020 levels, according to analysts.
    Reuters charts, maps and graphics
    Reuters charts, maps and graphics
    graphics.reuters.com
  • a
    austy
    Will CVI shareholders receive any dividend $2.93 share? It only stated that CVI partners will receive special cash payout?
  • D
    Diane
    Any guesses on price action the rest of the week leading up to Monday's earnings announcement?
  • D
    Diane
    Announcing earnings on a Monday means they must be good, right? Otherwise they would announce in a Friday to give people the weekend to lament. So.....I'm predicting solid earnings lol
  • S
    Striker44
    I have no faith in the analystards' abilities to interpret the quarterly report or ask intelligent questions, and unfortunately I can't listen to the call today. Staying mostly long, but will be booking some long term losses today to pit against profits from other investments.
  • S
    Scotty
    have a buy set at 15.77 with current bid at 15.81
  • t
    tony
    Glad that Lamps contract is up at the end of the year. Took this company from $40 a share to $20 a share and got rid of the dividend while there was a great crack spread. Not sure how he creates shareholder value. Hopefully Carl will let this expire and find a suitable replacement.
  • D
    Diane
    Is increasing Oil price the primary reason for the recent increase in CVI share price, or is there an earnings surprise expected, other? Thanks for your thoughtful responses.
    Bullish
  • D
    Diane
    CVI has a market cap of 1.72 billion dollars, and this is obviously a seasoned company with a profitable history. It's lost an incredible amount of value in the past two years, loss of profitability and loss of dividend. With all of its products/services and direction for renewables, etc, talk of a spinoff, will it ever actually recover in any meaningful way, or keep painfully diminishing into oblivion?
    Neutral
  • A
    Anthony
    I just read the call transcript and have the following observations. As I type the stock price has bounced back slightly, nice but question is whether this is sustainable. The transcript was interesting for what was not addressed. 1. Prospects for future dividends. No one asked and mgmt didn’t offer. 2. Major cash outlays for rebuilds coming in 2022 and 2023. 3. RIN relief efforts from EPA, appear to be dead. Prior qtr mgmt bravado about suing seems to have faded in the wind. 4. Taxes, paid out $67mil, after utilization of NOL carryforwards? Seemed to gloss over the entire subject but appears to suggest prior period tax disclosures were slightly off base.

    What I also found interesting was the fact that prior qtr investors who participated in prior calls did not participate (ask questions) this call. Usually a sign that they are either dumping or adding to their positions. I realize my comment sounds stupid but time will tell.

    Lastly, Lamp sounded subdued and worn down on the call. Basically had an I’m tired of dealing with this thing attitude. IMO
  • L
    Lucifer
    So today we end the week with a powerful move upward in our share price on top of the significant gains we have enjoyed this week. We're about 3 weeks away from our third quarter earnings and I anticipate a very good report on the strength of the oil and fertilizer markets in Q3. I was pleased that Mr. Lamp decided to delay the upgrades at UAN until next year to capture the strong profits in the fertilizer sector. I know there are differing opinions regarding Mr. Lamp's performance but I, for one, think he has done a great job of navigating our ship through the difficult times of the last two years and I am hopeful that he will stay on for another term when his contract expires this December. In light of the strong markets in crude, refined products and fertilizer in Q3 I am feeling more optimistic that we will see a return of our dividends in the .40-.50 range this quarter. I know that RIN prices and requirements have been a thorn in CVI's side recently, along with volatile oil markets and demand issues but I believe the oil markets are and will continue to enjoy a much better environment in the upcoming months and the RIN issue will soon be clarified if the EPA can set aside their political bias and actually make a decision. That event alone should be very beneficial to keeping a lid on our gas prices and restore CVI's share price to pre-Covid levels. I find it obscene that CVI is trading below $20.00 with $90.00 crude prices.
    Hope you all have taken some positions at some great prices in the oil patch to enjoy future gains that are sure to come in our "transitory" inflationary environment. I finished building my position in EPD last month so its back to the drawing board to identify my next target. Currently considering MPLX,BPMP, MMP or OMP... Thoughts?? Cheers!
    Bullish
  • D
    Diane
    CVI was founded in 1906. I believe that the share price will have an epic comeback!
  • D
    Diane
    I miss the old profitable CVI....come back to me!
  • R
    RockyM
    I read the earnings report and coudn't figure out how this correlated with a loss, but, I'm going to go through it with a fine tooth comb later today. In the mean time, I'm looking at my other refinery investment, Par Pacific, they look like they've really turned things around and reported stellar earnings!
Advertisement
Advertisement