CVR Energy (NYSE:CVI) Major Shareholder Carl Icahn Acquires 244,940 Shares

CVR Energy Inc. (NYSE:CVI) major shareholder Carl Icahn acquired 244,940 shares of the business’s stock in a transaction on Monday, February 23rd. The shares were bought at an average price of $20.75 per share, with a total value of $5,082,505.00. Following the completion of the transaction, the insider directly owned 70,926,863 shares of the company’s stock, valued at approximately $1,471,732,407.25. The trade was a 0.35% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

CVR Energy Stock Performance

Shares of NYSE:CVI traded up $0.63 during trading on Tuesday, reaching $21.70. 1,732,841 shares of the stock were exchanged, compared to its average volume of 1,390,099. CVR Energy Inc. has a 12 month low of $15.10 and a 12 month high of $41.67. The stock has a 50-day moving average price of $24.21 and a 200-day moving average price of $30.28. The company has a current ratio of 1.79, a quick ratio of 1.13 and a debt-to-equity ratio of 1.95. The firm has a market cap of $2.18 billion, a PE ratio of 83.47 and a beta of 1.16.

CVR Energy (NYSE:CVI) last released its quarterly earnings results on Wednesday, February 18th. The oil and gas company reported ($0.80) earnings per share for the quarter, topping the consensus estimate of ($0.84) by $0.04. The business had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.70 billion. CVR Energy had a negative return on equity of 14.31% and a net margin of 0.38%.The firm’s revenue for the quarter was down 7.0% compared to the same quarter last year. During the same period last year, the firm posted ($0.13) EPS. Research analysts expect that CVR Energy Inc. will post -0.12 EPS for the current fiscal year.

CVR Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 9th. Stockholders of record on Monday, March 2nd will be given a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 6.8%. The ex-dividend date of this dividend is Monday, March 2nd.

Institutional Investors Weigh In On CVR Energy

Large investors have recently bought and sold shares of the company. BNP Paribas Financial Markets increased its holdings in CVR Energy by 21,261.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 776,073 shares of the oil and gas company’s stock valued at $28,311,000 after buying an additional 772,440 shares during the period. Tudor Investment Corp ET AL acquired a new stake in shares of CVR Energy during the 3rd quarter worth approximately $22,217,000. Squarepoint Ops LLC acquired a new stake in shares of CVR Energy during the 4th quarter worth approximately $9,616,000. Bank of America Corp DE increased its stake in CVR Energy by 101.2% in the third quarter. Bank of America Corp DE now owns 706,504 shares of the oil and gas company’s stock valued at $25,773,000 after acquiring an additional 355,412 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its position in CVR Energy by 33.9% during the third quarter. Jacobs Levy Equity Management Inc. now owns 1,364,250 shares of the oil and gas company’s stock valued at $49,768,000 after purchasing an additional 345,758 shares in the last quarter. 98.88% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on CVI. Weiss Ratings cut shares of CVR Energy from a “hold (c)” rating to a “sell (d)” rating in a research note on Friday. Wall Street Zen cut shares of CVR Energy from a “hold” rating to a “sell” rating in a report on Saturday. One research analyst has rated the stock with a Hold rating and five have issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Strong Sell” and a consensus price target of $29.25.

CVR Energy Company Profile

CVR Energy, Inc is an independent downstream energy company engaged primarily in petroleum refining and nitrogen fertilizer production in the United States. Headquartered in Sugar Land, Texas, CVR Energy operates through two reportable segments—Petroleum Products and Nitrogen Fertilizers—leveraging its refining expertise and distribution network to serve both wholesale and retail markets across key regions in the U.S.

In its Petroleum Products segment, the company owns and operates the Coffeyville, Kansas refinery, which has the capability to process various grades of crude oil into gasoline, diesel, jet fuel and other refined products.