Chicago Rivet & Machine Co. (CVR)
AMEX AMEX Primary 
CXA 
CVR Energy: Margin Capture Is Weak, But The Macro Is Improving
CVR Energy's refining setup improved materially as Group 3 crack spreads strengthened sharply and 2026 should be a much cleaner operational year. The main problem is not weak refining benchmarks, but weak margin capture, as elevated RIN costs absorbed much of the benefit from stronger cracks in 1Q26. Despite the recent re-rating, CVI still lagged refining peers, suggesting the market remains skeptical that better refining economics will fully translate into EBITDA and free cash flow.
Is the Options Market Predicting a Spike in CVR Energy Stock?
Investors need to pay close attention to CVI stock based on the movements in the options market lately.
CVR Partners: $4 Distribution And 12% Yield Confirm The Thesis
CVR Partners delivered a standout Q1, nearly doubling net income to $50M and raising its variable distribution to $4.00 per unit. UAN's forward yield now exceeds 10%, driven by robust fertilizer pricing, 103% ammonia plant utilization, and strong spring planting demand. I maintain my Buy rating with a $150 near-term price target and see upside optionality to $200 if forward EPS approaches $20.
CVR Partners: The Cash Machine I Won't Miss Out Adding More To
CVR Partners remains a Strong Buy, driven by robust fertilizer pricing, operational flexibility, and a unique business model focused on nitrogen fertilizers. Recent earnings showed 26.7% YoY sales growth, 84% YoY net income growth, and no unit dilution, with cash nearly doubling to $128 million. Rising realized prices for UAN (+34%) and ammonia (+24%), coupled with a 20% decline in pet coke input costs, have significantly expanded margins.
Undercovered Dozen: CVR Energy, Greystone Housing, Conagra Brands, And More
The Undercovered Dozen series spotlights 12 lesser-covered stocks from the past week on Seeking Alpha. This week's edition covers articles published between March 27 and April 2, offering fresh investment ideas. The focus is on stocks that may offer unique opportunities due to limited analyst coverage.
CVR Energy Poised To Soar
The cycle in oil refining crack spreads bottomed in Q4 2025 and has been moving up ever since. Valuation of CVR Energy is well below peers due to previous management errors, which have now been corrected. Wars in Ukraine and Iran have damaged or destroyed multiple oil refineries, which will take years to repair or replace.
CVR Partners: Iran Just Made This 12% Yield Look Cheap
CVR Partners is a compelling buy, benefiting from the Iran conflict's fertilizer supply shock and soaring nitrogen prices. UAN's U.S.-based plants avoid geopolitical chokepoints, positioning the company for strong Q1 and 2026 distributions amid global disruptions. My base case estimates a 2026 forward yield of ~13% ($16/unit), with upside if supply shocks persist; the near-term price target is $150.
CVR Energy: From Rising Tiger To Falling Knife
CVR Energy, Inc. remains a Sell due to persistent regulatory uncertainty, underperformance versus peers, and continued operational setbacks. Despite sector strength, CVI delivered a negative 20% return over six months while peers gained 20–40%, highlighting company-specific challenges. Q4 2025 results showed a $116M net loss and EBITDA of $51M, with renewable segment losses and fertilizer downtime weighing on performance.
Why CVR Partners Is Not Down More After A Bad Quarter
CVR Partners plants are now operating normally after excessive Q4 downtime, driven by third-party air separation unit issues at Coffeyville. Despite the Q4 setback, CVRP expects strong 2026 distributions, targeting $5 per quarter for the remaining three quarters, implying a 14% yield. Operational reliability, particularly at Coffeyville, and ongoing capital projects for feedstock flexibility and DEF expansion support continued healthy distributions.
CVR Partners: Should Be On Every Investor's Radar
CVR Partners is rated a strong buy, driven by robust fertilizer demand, secure feedstock, and compelling long-term yield prospects. UAN benefits from declining pet coke costs and rising UAN/ammonia prices, supporting a sustainable 9–11% yield with a 7.98% floor. Distribution coverage remains solid near 2x on OCF and FCF, with potential for special distributions as cash reserves grow.
CVR Energy: Regulatory And Venezuela Tailwinds Make Shares Attractive (Upgrade)
CVR Energy is upgraded to a "Buy," with fair value seen at $38, after a significant pullback and improved regulatory outlook. Regulatory relief, notably EPA small refinery exemptions, has reduced CVI's environmental liabilities by 80%, boosting cash flow and balance sheet strength. Crack spreads have declined sharply, pressuring margins, but recent Venezuelan developments and regulatory tailwinds support medium-term spread stabilization near $25.
CVR Partners: A Commodity Dividend, A Unique Value Proposition
CVR Partners, LP is a buy, offering undervalued exposure to nitrogen fertilizer with strategic Midwest facilities and unique feedstock flexibility. UAN's dual-input Coffeyville facility and capacity expansion initiatives provide a durable competitive advantage, supporting long-term utilization targets around 95%. The partnership structure delivers high, albeit volatile, distributions tied to commodity cycles, with tax-advantaged potential for certain investors.
