Carl C. Icahn Buys 878,212 Shares of CVR Energy, Inc. (NYSE:CVI) Stock

CVR Energy, Inc. (NYSE:CVI) major shareholder Carl C. Icahn bought 878,212 shares of CVR Energy stock in a transaction that occurred on Wednesday, January 8th. The stock was bought at an average cost of $18.25 per share, with a total value of $16,027,369.00. Following the completion of the purchase, the insider now owns 67,570,593 shares in the company, valued at approximately $1,233,163,322.25. This trade represents a 1.32 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is accessible through 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

Shares of CVI opened at $18.97 on Friday. The company has a current ratio of 1.33, a quick ratio of 0.86 and a debt-to-equity ratio of 1.84. The company’s fifty day simple moving average is $18.57 and its 200 day simple moving average is $22.34. CVR Energy, Inc. has a 1-year low of $15.60 and a 1-year high of $38.07. The company has a market cap of $1.91 billion, a price-to-earnings ratio of 27.49 and a beta of 1.58.

CVR Energy (NYSE:CVI) last issued its earnings results on Monday, October 28th. The oil and gas company reported ($0.50) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.41). CVR Energy had a net margin of 0.89% and a return on equity of 2.88%. The firm had revenue of $1.83 billion during the quarter, compared to the consensus estimate of $1.91 billion. During the same period in the previous year, the company posted $1.89 earnings per share. The firm’s revenue for the quarter was down 27.3% compared to the same quarter last year. On average, research analysts forecast that CVR Energy, Inc. will post -0.12 earnings per share for the current fiscal year.

Institutional Trading of CVR Energy

Several institutional investors and hedge funds have recently bought and sold shares of CVI. State Street Corp increased its holdings in shares of 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 last quarter. Dimensional Fund Advisors LP increased its holdings in shares of CVR Energy by 2.2% in the second quarter. Dimensional Fund Advisors LP now owns 2,072,334 shares of the oil and gas company’s stock valued at $55,476,000 after purchasing an additional 44,636 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of CVR Energy by 14.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 639,138 shares of the oil and gas company’s stock valued at $14,719,000 after purchasing an additional 81,590 shares during the period. American Century Companies Inc. lifted its stake in shares of CVR Energy by 60.3% during the 2nd quarter. American Century Companies Inc. now owns 407,819 shares of the oil and gas company’s stock worth $10,917,000 after buying an additional 153,396 shares during the last quarter. Finally, Advisors Asset Management Inc. lifted its stake in shares of CVR Energy by 37.2% during the 3rd quarter. Advisors Asset Management Inc. now owns 352,075 shares of the oil and gas company’s stock worth $8,108,000 after buying an additional 95,371 shares during the last quarter. Institutional investors own 98.88% of the company’s stock.

Analysts Set New Price Targets

CVI has been the subject of several recent research reports. JPMorgan Chase & Co. reduced their price objective on CVR Energy from $26.00 to $23.00 and set an “underweight” rating for the company in a research report on Wednesday, October 2nd. Scotiabank lowered their price objective on shares of CVR Energy from $25.00 to $21.00 and set a “sector underperform” rating on the stock in a report on Thursday, October 10th. The Goldman Sachs Group cut their price objective on shares of CVR Energy from $24.00 to $21.00 and set a “sell” rating on the stock in a research report on Friday, December 6th. Mizuho raised their target price on shares of CVR Energy from $18.00 to $20.00 and gave the company a “neutral” rating in a research report on Monday, December 16th. Finally, StockNews.com cut shares of CVR Energy from a “hold” rating to a “sell” rating in a research report on Saturday, December 14th. Six equities research analysts have rated the stock with a sell rating and two have given a hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Reduce” and a consensus price target of $23.00.

CVR Energy Company Profile

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.