CVR Energy is putting up some pretty amazing numbers. Quarterly earnings per share growth ranged from 111% to 940% over the past year. Revenue growth on a quarterly basis ranged from 27% to 62% during that period.
On Tuesday, CVR Energy reported a surge in fourth quarter basic and diluted earnings to $1.11 per share. That reversed from a 14-cent per share loss a year earlier. Revenue in its latest quarter rose 27% to $2.68 billion. For the year, CVR earned $4.60 per share on $10.9 billion revenue, up from 25 cents earnings and $7.24 billion revenue the prior year. Also on Tuesday, CVR announced a 50-cent quarterly dividend. And CVR Partners declared a cash distribution of $10.50 per common share, both to be paid March 13.
CVR Energy Stock Roared While Market Slept
Meanwhile, CVR Energy stock soared about 220% from a mid-December 2021 low to the end of October despite the 2022 bear market, according to IBD MarketSmith. It's no surprise that on Wednesday the Relative Strength (RS) Rating for CVR Energy climbed to a higher percentile, with an upgrade from 79 to 82.
CVR In Top Tier For Stock Price Performance
Sugar Land, Texas-based CVR Energy is an oil refiner that operates in the heart of the oil industry. It's in Oklahoma, Texas, Missouri and Kansas. The 82 RS Rating puts CVR Energy stock in the top 18% of all stocks on price performance over the past year. It also makes CVR stock one to watch. The best stocks to buy and watch often have an RS Rating north of 80 in the early stages of their moves.
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CVR Energy shares fell Wednesday in sync with the day's market pullback. The oil refiner's stock is building a consolidation with a 42.31 entry. See if it can break out in heavy trading.
The company earns the No. 9 rank among its peers in the Oil & Gas-Refining/Marketing industry group. Global Partners and CrossAmerica Partners are also among the group's highest-rated stocks.
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