Carl C. Icahn Buys 77,851 Shares of CVR Energy, Inc. (NYSE:CVI) Stock

CVR Energy, Inc. (NYSE:CVI) major shareholder Carl C. Icahn bought 77,851 shares of the firm’s stock in a transaction dated Monday, April 14th. The shares were purchased at an average price of $17.90 per share, with a total value of $1,393,532.90. Following the acquisition, the insider now directly owns 70,043,154 shares in the company, valued at approximately $1,253,772,456.60. This trade represents a 0.11 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

CVR Energy Stock Down 1.3 %

Shares of NYSE CVI traded down $0.24 during midday trading on Tuesday, reaching $17.69. 824,196 shares of the company’s stock were exchanged, compared to its average volume of 1,234,366. 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, Inc. has a 52-week low of $15.10 and a 52-week high of $34.51. The business’s fifty day moving average price is $18.89 and its two-hundred day moving average price is $19.65. The stock has a market capitalization of $1.78 billion, a PE ratio of 294.93 and a beta of 1.26.

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 (EPS) 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%. Analysts forecast that CVR Energy, Inc. will post -0.12 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have recently commented on CVI. StockNews.com raised shares of CVR Energy from a “sell” rating to a “hold” rating in a research note on Wednesday, February 19th. Mizuho raised their price objective on CVR Energy from $20.00 to $21.00 and gave the company a “neutral” rating in a research report on Tuesday, April 1st. Scotiabank decreased their target price on CVR Energy from $22.00 to $16.00 and set a “sector underperform” rating for the company in a research report on Friday. Finally, The Goldman Sachs Group dropped their target price on CVR Energy from $19.00 to $16.00 and set a “sell” rating on the stock in a report on Thursday, March 27th. Five research analysts have rated the stock with a sell rating and three have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce” and an average price target of $21.20.

Institutional Trading of CVR Energy

Several institutional investors have recently added to or reduced their stakes in the stock. Harbor Capital Advisors Inc. grew its holdings in CVR Energy by 65.5% during the 1st quarter. Harbor Capital Advisors Inc. now owns 1,633 shares of the oil and gas company’s stock worth $32,000 after acquiring an additional 646 shares in the last quarter. R Squared Ltd acquired a new position in CVR Energy in the fourth quarter worth about $36,000. PNC Financial Services Group Inc. increased its holdings 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. GAMMA Investing LLC raised its stake in CVR Energy by 106.6% during the first quarter. GAMMA Investing LLC now owns 2,159 shares of the oil and gas company’s stock valued at $42,000 after buying an additional 1,114 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new position in CVR Energy during the 3rd quarter worth approximately $43,000. 98.88% of the stock is owned by institutional investors and hedge funds.

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.