CVR Energy, Inc. (NYSE:CVI) Major Shareholder Buys $3,674,898.09 in Stock

CVR Energy, Inc. (NYSE:CVI) major shareholder Carl C. Icahn acquired 206,571 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were acquired at an average cost of $17.79 per share, with a total value of $3,674,898.09. Following the transaction, the insider now owns 67,780,774 shares in the company, valued at approximately $1,205,819,969.46. The trade was a 0.31 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

CVR Energy Stock Performance

Shares of CVI stock opened at $18.16 on Thursday. CVR Energy, Inc. has a 12-month low of $15.60 and a 12-month high of $38.07. The company has a debt-to-equity ratio of 2.15, a current ratio of 1.66 and a quick ratio of 0.86. The firm has a market capitalization of $1.83 billion, a price-to-earnings ratio of 302.63 and a beta of 1.55. The business has a 50 day simple moving average of $19.37 and a 200 day simple moving average of $20.69.

CVR Energy (NYSE:CVI) last released its quarterly earnings results on Tuesday, February 18th. The oil and gas company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.12). CVR Energy had a negative return on equity of 5.12% and a net margin of 0.09%. The business had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.85 billion. On average, equities research analysts anticipate that CVR Energy, Inc. will post -0.12 EPS for the current year.

Analyst Upgrades and Downgrades

CVI has been the subject of several recent research reports. Mizuho upped their target price on CVR Energy from $18.00 to $20.00 and gave the company a “neutral” rating in a report on Monday, December 16th. The Goldman Sachs Group lowered their price objective on CVR Energy from $24.00 to $21.00 and set a “sell” rating for the company in a research note on Friday, December 6th. Finally, StockNews.com upgraded CVR Energy from a “sell” rating to a “hold” rating in a research note on Wednesday, February 19th. Five equities research analysts have rated the stock with a sell rating and three have given a hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average price target of $23.00.

Institutional Trading of CVR Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in CVI. R Squared Ltd bought a new position in shares of CVR Energy in the fourth quarter valued at approximately $36,000. PNC Financial Services Group Inc. boosted its stake in CVR Energy by 55.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,052 shares of the oil and gas company’s stock valued at $38,000 after purchasing an additional 731 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of CVR Energy during the 3rd quarter valued at $43,000. Larson Financial Group LLC increased its position in shares of CVR Energy by 640.9% during the 3rd quarter. Larson Financial Group LLC now owns 3,119 shares of the oil and gas company’s stock valued at $72,000 after purchasing an additional 2,698 shares during the period. Finally, FMR LLC raised its stake in shares of CVR Energy by 103.4% in the 3rd quarter. FMR LLC now owns 4,031 shares of the oil and gas company’s stock worth $93,000 after buying an additional 2,049 shares in the last quarter. 98.88% of the stock is currently owned by institutional investors.

About CVR Energy

CVR Energy, Inc, together with its subsidiaries, engages in the petroleum refining and marketing, and nitrogen fertilizer manufacturing activities in the United States. It operates in two segments, Petroleum and Nitrogen Fertilizer. The Petroleum segment refines and supplies gasoline, crude oil, distillate, diesel fuel, and other refined products.