Carl C. Icahn Buys 61,108 Shares of CVR Energy, Inc. (NYSE:CVI) Stock

CVR Energy, Inc. (NYSE:CVI) major shareholder Carl C. Icahn purchased 61,108 shares of the company’s stock in a transaction that occurred on Thursday, April 3rd. The shares were acquired at an average price of $18.12 per share, for a total transaction of $1,107,276.96. Following the completion of the purchase, the insider now directly owns 68,595,378 shares in the company, valued at $1,242,948,249.36. This represents a 0.09 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

CVR Energy Price Performance

Shares of NYSE CVI opened at $16.16 on Wednesday. The stock’s 50-day simple moving average is $19.06 and its two-hundred day simple moving average is $19.86. CVR Energy, Inc. has a twelve month low of $15.10 and a twelve month high of $36.57. The firm has a market capitalization of $1.62 billion, a P/E ratio of 269.29 and a beta of 1.26. The company has a quick ratio of 0.86, a current ratio of 1.66 and a debt-to-equity ratio of 2.15.

CVR Energy (NYSE:CVI) last announced its 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). CVR Energy had a net margin of 0.09% and a negative return on equity of 5.12%. The company had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $1.85 billion. As a group, equities analysts anticipate that CVR Energy, Inc. will post -0.12 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

CVI has been the topic of several recent research reports. Mizuho increased their target price on CVR Energy from $20.00 to $21.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 1st. StockNews.com raised CVR Energy from a “sell” rating to a “hold” rating in a report on Wednesday, February 19th. Finally, The Goldman Sachs Group reduced their target price on CVR Energy from $19.00 to $16.00 and set a “sell” rating for the company in a report on Thursday, March 27th. Five equities research analysts have rated the stock with a sell rating and three have given a hold rating to the company. According to data from MarketBeat, CVR Energy has a consensus rating of “Reduce” and an average price target of $22.20.

Institutional Investors Weigh In On CVR Energy

A number of hedge funds have recently made changes to their positions in CVI. Charles Schwab Investment Management Inc. raised its position in CVR Energy by 14.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 639,138 shares of the oil and gas company’s stock worth $14,719,000 after purchasing an additional 81,590 shares during the period. Barclays PLC increased its holdings in shares of CVR Energy by 214.3% in the third quarter. Barclays PLC now owns 78,030 shares of the oil and gas company’s stock worth $1,797,000 after buying an additional 53,203 shares during the period. State Street Corp lifted its stake in shares of CVR Energy by 18.1% in the 3rd quarter. State Street Corp now owns 2,075,058 shares of the oil and gas company’s stock valued at $47,789,000 after acquiring an additional 317,475 shares during the last quarter. D.A. Davidson & CO. purchased a new stake in CVR Energy during the 4th quarter valued at about $736,000. Finally, Groesbeck Investment Management Corp NJ bought a new position in CVR Energy during the 4th quarter worth approximately $637,000. 98.88% of the stock is currently owned by institutional investors.

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.