Carl C. Icahn Purchases 3,610 Shares of CVR Energy, Inc. (NYSE:CVI) Stock

CVR Energy, Inc. (NYSE:CVI) major shareholder Carl C. Icahn bought 3,610 shares of the business’s stock in a transaction dated Friday, February 28th. The shares were acquired at an average cost of $18.24 per share, with a total value of $65,846.40. Following the completion of the purchase, the insider now owns 67,574,203 shares in the company, valued at approximately $1,232,553,462.72. This represents a 0.01 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

CVR Energy Trading Up 1.0 %

Shares of CVI stock opened at $18.16 on Thursday. The stock has a market cap of $1.83 billion, a P/E ratio of 302.63 and a beta of 1.55. 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, Inc. has a fifty-two week low of $15.60 and a fifty-two week high of $38.07. The business has a fifty day simple moving average of $19.37 and a 200-day simple moving average of $20.69.

CVR Energy (NYSE:CVI) last posted its earnings results on Tuesday, February 18th. The oil and gas company reported ($0.13) earnings per share for the quarter, missing the consensus estimate 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 business had revenue of $1.95 billion for the quarter, compared to analysts’ expectations of $1.85 billion. On average, analysts forecast that CVR Energy, Inc. will post -0.12 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

CVI has been the subject of several research analyst reports. Mizuho increased their price objective on CVR Energy from $18.00 to $20.00 and gave the stock a “neutral” rating in a research report on Monday, December 16th. StockNews.com upgraded shares of CVR Energy from a “sell” rating to a “hold” rating in a report on Wednesday, February 19th. Finally, The Goldman Sachs Group decreased their price objective on shares of CVR Energy from $24.00 to $21.00 and set a “sell” rating on the stock in a report on Friday, December 6th. Five research analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. According to data from MarketBeat.com, CVR Energy has an average rating of “Reduce” and an average target price of $23.00.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Charles Schwab Investment Management Inc. grew its holdings in CVR Energy by 14.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 639,138 shares of the oil and gas company’s stock valued at $14,719,000 after buying an additional 81,590 shares during the last quarter. Barclays PLC increased its position in CVR Energy by 214.3% during the 3rd quarter. Barclays PLC now owns 78,030 shares of the oil and gas company’s stock worth $1,797,000 after purchasing an additional 53,203 shares in the last quarter. Royce & Associates LP raised its stake in CVR Energy by 58.1% in the 3rd quarter. Royce & Associates LP now owns 101,043 shares of the oil and gas company’s stock valued at $2,327,000 after purchasing an additional 37,130 shares during the last quarter. State Street Corp lifted its holdings in 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 purchasing an additional 317,475 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC acquired a new stake in shares of CVR Energy during the 3rd quarter worth about $5,335,000. 98.88% of the stock is owned by hedge funds and other 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.