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

CVR Energy, Inc. (NYSE:CVI) major shareholder Carl C. Icahn bought 138,853 shares of the company’s stock in a transaction that occurred on Wednesday, March 12th. The stock was acquired at an average price of $18.01 per share, with a total value of $2,500,742.53. Following the completion of the purchase, the insider now directly owns 68,446,293 shares of the company’s stock, valued at approximately $1,232,717,736.93. The trade was a 0.20 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

CVR Energy Stock Performance

Shares of NYSE CVI traded up $0.05 during midday trading on Wednesday, reaching $18.01. 1,434,545 shares of the company traded hands, compared to its average volume of 1,185,960. The company has a market cap 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. 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 stock has a 50-day moving average price of $19.34 and a 200 day moving average price of $20.51.

CVR Energy (NYSE:CVI) last released its quarterly earnings data 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). CVR Energy had a net margin of 0.09% and a negative return on equity of 5.12%. The firm had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.85 billion. Sell-side analysts anticipate that CVR Energy, Inc. will post -0.12 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

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

Wall Street Analyst Weigh In

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