CVR Energy, Inc. (NYSE:CVI) Major Shareholder Buys $2,500,742.53 in Stock

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

CVR Energy Price Performance

CVI stock opened at $19.28 on Friday. The business has a 50 day moving average price of $19.33 and a 200 day moving average price of $20.44. The stock has a market cap of $1.94 billion, a price-to-earnings ratio of 321.30 and a beta of 1.55. CVR Energy, Inc. has a fifty-two week low of $15.60 and a fifty-two week high of $38.07. 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 (NYSE:CVI) last posted its earnings results 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 business had revenue of $1.95 billion for the quarter, compared to analysts’ expectations of $1.85 billion. CVR Energy had a negative return on equity of 5.12% and a net margin of 0.09%. Equities research analysts anticipate that CVR Energy, Inc. will post -0.12 earnings per share for the current fiscal year.

Institutional Investors Weigh In On CVR Energy

Several institutional investors have recently added to or reduced their stakes in CVI. R Squared Ltd purchased a new stake in CVR Energy in the fourth quarter valued at approximately $36,000. PNC Financial Services Group Inc. lifted its stake in 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 buying an additional 731 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in CVR Energy in the third quarter valued at approximately $43,000. Larson Financial Group LLC lifted its stake in 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 buying an additional 2,698 shares during the last quarter. Finally, FMR LLC lifted its stake in 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 buying an additional 2,049 shares during the last quarter. Hedge funds and other institutional investors own 98.88% of the company’s stock.

Wall Street Analyst Weigh In

CVI has been the subject of several research reports. StockNews.com raised CVR Energy from a “sell” rating to a “hold” rating in a research report on Wednesday, February 19th. Mizuho lifted their target price on CVR Energy from $18.00 to $20.00 and gave the company a “neutral” rating in a research report on Monday, December 16th. Finally, 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. Five analysts have rated the stock with a sell rating and three have given a hold rating to the company’s stock. Based on data from MarketBeat.com, CVR Energy has a consensus rating of “Reduce” and a consensus target price of $23.00.

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.