CVR Energy, Inc. (NYSE:CVI) Major Shareholder Carl C. Icahn Buys 878,212 Shares of Stock

CVR Energy, Inc. (NYSE:CVI) major shareholder Carl C. Icahn bought 878,212 shares of CVR Energy stock in a transaction dated Wednesday, January 8th. The stock was purchased at an average cost of $18.25 per share, with a total value of $16,027,369.00. Following the completion of the acquisition, the insider now directly owns 67,570,593 shares in the company, valued at approximately $1,233,163,322.25. The trade was a 1.32 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. 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 Stock Performance

Shares of CVI opened at $18.97 on Friday. CVR Energy, Inc. has a 1 year low of $15.60 and a 1 year high of $38.07. The stock has a market capitalization of $1.91 billion, a P/E ratio of 27.49 and a beta of 1.58. The company has a debt-to-equity ratio of 1.84, a quick ratio of 0.86 and a current ratio of 1.33. The company’s fifty day moving average is $18.51 and its two-hundred day moving average is $22.42.

CVR Energy (NYSE:CVI) last posted its quarterly earnings results on Monday, October 28th. The oil and gas company reported ($0.50) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.41). The firm had revenue of $1.83 billion for the quarter, compared to analysts’ expectations of $1.91 billion. CVR Energy had a return on equity of 2.88% and a net margin of 0.89%. The company’s revenue for the quarter was down 27.3% on a year-over-year basis. During the same period in the prior year, the company earned $1.89 earnings per share. On average, sell-side analysts predict that CVR Energy, Inc. will post -0.12 earnings per share for the current year.

Hedge Funds Weigh In On CVR Energy

A number of large investors have recently modified their holdings of the business. Headlands Technologies LLC grew its holdings in CVR Energy by 820.5% during the second quarter. Headlands Technologies LLC now owns 1,482 shares of the oil and gas company’s stock worth $40,000 after acquiring an additional 1,321 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in shares of CVR Energy during the 3rd quarter worth $43,000. Future Financial Wealth Managment LLC purchased a new stake in shares of CVR Energy during the 3rd quarter worth $46,000. Larson Financial Group LLC grew its stake 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, Quest Partners LLC increased its holdings in shares of CVR Energy by 47.3% in the 2nd quarter. Quest Partners LLC now owns 3,485 shares of the oil and gas company’s stock valued at $93,000 after purchasing an additional 1,119 shares in the last quarter. 98.88% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Scotiabank reduced their price objective on CVR Energy from $25.00 to $21.00 and set a “sector underperform” rating for the company in a research note on Thursday, October 10th. The Goldman Sachs Group reduced their price target on shares of CVR Energy from $24.00 to $21.00 and set a “sell” rating for the company in a research report on Friday, December 6th. JPMorgan Chase & Co. lowered their price objective on shares of CVR Energy from $26.00 to $23.00 and set an “underweight” rating on the stock in a research report on Wednesday, October 2nd. StockNews.com cut shares of CVR Energy from a “hold” rating to a “sell” rating in a report on Saturday, December 14th. Finally, Mizuho increased their target price on shares of CVR Energy from $18.00 to $20.00 and gave the stock a “neutral” rating in a research note on Monday, December 16th. Six equities research analysts have rated the stock with a sell rating and two have issued a hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce” and an average target price of $23.00.

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.