Carl C. Icahn Purchases 3,610 Shares of CVR Energy, Inc. (NYSE:CVI) Stock

CVR Energy, Inc. (NYSE:CVI) major shareholder Carl C. Icahn bought 3,610 shares of the company’s stock in a transaction that occurred on Friday, February 28th. The stock was acquired at an average cost of $18.24 per share, for a total transaction of $65,846.40. Following the acquisition, the insider now directly owns 67,574,203 shares of the company’s stock, valued at $1,232,553,462.72. The trade was a 0.01 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

CVR Energy Stock Up 1.0 %

Shares of NYSE CVI opened at $18.16 on Thursday. The business has a 50-day moving average price of $19.37 and a 200 day moving average price of $20.69. The stock has a market cap of $1.83 billion, a PE ratio of 302.63 and a beta of 1.55. The company has a quick ratio of 0.86, a current ratio of 1.66 and a debt-to-equity ratio of 2.15. CVR Energy, Inc. has a 52-week low of $15.60 and a 52-week high of $38.07.

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

Analysts Set New Price Targets

Several research firms have recently issued reports on CVI. 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 report on Friday, December 6th. StockNews.com raised CVR Energy from a “sell” rating to a “hold” rating in a report on Wednesday, February 19th. Finally, Mizuho raised their price objective on shares of CVR Energy from $18.00 to $20.00 and gave the stock a “neutral” rating in a report on Monday, December 16th. Five analysts have rated the stock with a sell rating and three have given a hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Reduce” and a consensus price target of $23.00.

Institutional Trading of CVR Energy

Large investors have recently bought and sold shares of the business. State Street Corp lifted its position in CVR Energy by 18.1% during the 3rd quarter. State Street Corp now owns 2,075,058 shares of the oil and gas company’s stock worth $47,789,000 after acquiring an additional 317,475 shares during the period. Two Sigma Investments LP lifted its holdings in shares of CVR Energy by 56.2% during the fourth quarter. Two Sigma Investments LP now owns 750,195 shares of the oil and gas company’s stock worth $14,059,000 after purchasing an additional 269,763 shares during the period. Millennium Management LLC grew its position in CVR Energy by 1,203.0% in the 4th quarter. Millennium Management LLC now owns 286,100 shares of the oil and gas company’s stock valued at $5,362,000 after buying an additional 264,143 shares during the last quarter. ExodusPoint Capital Management LP increased its stake in CVR Energy by 744.9% in the 4th quarter. ExodusPoint Capital Management LP now owns 293,129 shares of the oil and gas company’s stock valued at $5,493,000 after buying an additional 258,436 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in CVR Energy by 12.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,181,295 shares of the oil and gas company’s stock valued at $40,876,000 after buying an additional 238,081 shares during the period. Institutional investors and hedge funds own 98.88% of the company’s stock.

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.