Carl C. Icahn Purchases 206,571 Shares of CVR Energy, Inc. (NYSE:CVI) Stock

CVR Energy, Inc. (NYSE:CVI) major shareholder Carl C. Icahn bought 206,571 shares of the business’s stock in a transaction on Monday, March 3rd. The stock was bought at an average price of $17.79 per share, for a total transaction of $3,674,898.09. Following the completion of the purchase, the insider now directly owns 67,780,774 shares of the company’s stock, valued at $1,205,819,969.46. The trade was a 0.31 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

CVR Energy Trading Up 1.8 %

CVI traded up $0.31 during trading on Tuesday, reaching $18.02. The company had a trading volume of 1,471,715 shares, compared to its average volume of 1,177,006. The firm’s 50-day simple moving average is $19.37 and its 200 day simple moving average is $20.75. The company has a market cap of $1.81 billion, a price-to-earnings ratio of 300.38 and a beta of 1.57. CVR Energy, Inc. has a 12-month low of $15.60 and a 12-month high of $38.07. The company has a debt-to-equity ratio of 2.15, a quick ratio of 0.86 and a current ratio of 1.66.

CVR Energy (NYSE:CVI) last issued its quarterly earnings results on Tuesday, February 18th. The oil and gas company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.12). The company had revenue of $1.95 billion during 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 year.

Wall Street Analyst Weigh In

CVI has been the topic of a number of recent research reports. The Goldman Sachs Group cut their target price on CVR Energy from $24.00 to $21.00 and set a “sell” rating on the stock in a research note on Friday, December 6th. Mizuho raised their target price on CVR Energy from $18.00 to $20.00 and gave the company a “neutral” rating in a research note on Monday, December 16th. Finally, StockNews.com upgraded CVR Energy from a “sell” rating to a “hold” rating in a research note on Wednesday, February 19th. Five analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Reduce” and a consensus price target of $23.00.

Institutional Investors Weigh In On CVR Energy

A number of institutional investors have recently bought and sold shares of CVI. R Squared Ltd acquired a new stake in CVR Energy during the 4th quarter worth about $36,000. PNC Financial Services Group Inc. boosted its position in CVR Energy by 55.3% during 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 acquiring an additional 731 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in shares of CVR Energy during the 3rd quarter valued at about $43,000. Larson Financial Group LLC lifted 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 valued at $72,000 after buying an additional 2,698 shares during the last quarter. Finally, FMR LLC lifted its holdings in shares of CVR Energy by 103.4% during the 3rd 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.

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.