CVR Energy, Inc. (NYSE:CVI) Major Shareholder Purchases $3,674,898.09 in Stock

CVR Energy, Inc. (NYSE:CVI) major shareholder Carl C. Icahn acquired 206,571 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were bought at an average price of $17.79 per share, with a total value of $3,674,898.09. Following the completion of the purchase, the insider now directly owns 67,780,774 shares of the company’s stock, valued at approximately $1,205,819,969.46. This represents a 0.31 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

CVR Energy Stock Up 1.4 %

Shares of NYSE:CVI opened at $18.37 on Friday. The company has a quick ratio of 0.86, a current ratio of 1.66 and a debt-to-equity ratio of 2.15. The firm has a market cap of $1.85 billion, a P/E ratio of 306.15 and a beta of 1.55. CVR Energy, Inc. has a 12 month low of $15.60 and a 12 month high of $38.07. The company’s 50-day moving average price is $19.37 and its two-hundred day moving average price is $20.69.

CVR Energy (NYSE:CVI) last released its quarterly earnings results on Tuesday, February 18th. The oil and gas company reported ($0.13) EPS 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 company had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.85 billion. As a group, research analysts forecast 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 analyst reports. The Goldman Sachs Group lowered their target price 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. Mizuho upped their price objective 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. Finally, StockNews.com upgraded shares of CVR Energy from a “sell” rating to a “hold” rating in a research note on Wednesday, February 19th. Five research analysts have rated the stock with a sell rating and three have given a hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Reduce” and an average price target of $23.00.

Institutional Investors Weigh In On CVR Energy

Several hedge funds and other institutional investors have recently made changes to their positions in CVI. R Squared Ltd bought a new position in CVR Energy in the fourth quarter valued at about $36,000. PNC Financial Services Group Inc. raised its holdings in CVR Energy by 55.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,052 shares of the oil and gas company’s stock worth $38,000 after purchasing an additional 731 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in CVR Energy during the 3rd quarter valued at about $43,000. Larson Financial Group LLC boosted its stake in shares of CVR Energy by 640.9% in the 3rd quarter. Larson Financial Group LLC now owns 3,119 shares of the oil and gas company’s stock valued at $72,000 after purchasing an additional 2,698 shares during the last quarter. Finally, FMR LLC grew its position in shares of CVR Energy by 103.4% during the 3rd quarter. FMR LLC now owns 4,031 shares of the oil and gas company’s stock worth $93,000 after buying an additional 2,049 shares during the period. 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.