CVR Energy, Inc. (NYSE:CVI) Major Shareholder Carl C. Icahn Acquires 138,853 Shares

CVR Energy, Inc. (NYSE:CVI) major shareholder Carl C. Icahn bought 138,853 shares of CVR Energy stock in a transaction that occurred on Wednesday, March 12th. The stock was purchased at an average cost of $18.01 per share, with a total value of $2,500,742.53. Following the completion of the acquisition, the insider now directly owns 68,446,293 shares in the company, valued at $1,232,717,736.93. This represents a 0.20 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

CVR Energy Stock Up 0.3 %

NYSE CVI opened at $18.01 on Thursday. The company has a quick ratio of 0.86, a current ratio of 1.66 and a debt-to-equity ratio of 2.15. The company has a fifty day moving average of $19.32 and a two-hundred day moving average of $20.46. The firm has a market capitalization of $1.81 billion, a price-to-earnings ratio of 300.25 and a beta of 1.55. CVR Energy, Inc. has a 52 week low of $15.60 and a 52 week high of $38.07.

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

Wall Street Analyst Weigh In

CVI has been the subject of a number of research analyst reports. The Goldman Sachs Group cut their price objective on shares of CVR Energy from $24.00 to $21.00 and set a “sell” rating for the company in a report on Friday, December 6th. Mizuho increased their price objective on shares of CVR Energy from $18.00 to $20.00 and gave the company a “neutral” rating in a report on Monday, December 16th. Finally, StockNews.com raised shares of CVR Energy from a “sell” rating to a “hold” rating in a report on Wednesday, February 19th. Five research analysts have rated the stock with a sell rating and three have issued a hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus target price of $23.00.

Institutional Trading of CVR Energy

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