Insider Buying: CVR Energy, Inc. (NYSE:CVI) Major Shareholder Acquires 122,049 Shares of Stock

CVR Energy, Inc. (NYSE:CVI) major shareholder Carl C. Icahn purchased 122,049 shares of the firm’s stock in a transaction on Wednesday, March 5th. The shares were purchased at an average cost of $17.84 per share, with a total value of $2,177,354.16. Following the completion of the purchase, the insider now owns 68,069,902 shares in the company, valued at $1,214,367,051.68. This represents a 0.18 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Large 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 Down 1.5 %

Shares of CVI stock traded down $0.28 during trading hours on Friday, reaching $18.08. 1,153,114 shares of the stock traded hands, compared to its average volume of 1,180,083. 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 capitalization of $1.82 billion, a PE ratio of 301.30 and a beta of 1.55. CVR Energy, Inc. has a 1-year low of $15.60 and a 1-year high of $38.07. The business has a fifty day moving average price of $19.37 and a 200 day moving average price of $20.68.

CVR Energy (NYSE:CVI) last issued its 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). The business had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.85 billion. CVR Energy had a negative return on equity of 5.12% and a net margin of 0.09%. On average, equities research analysts forecast that CVR Energy, Inc. will post -0.12 EPS for the current year.

Hedge Funds Weigh In On CVR Energy

A number of large investors have recently made changes to their positions in CVI. GF Fund Management CO. LTD. acquired a new position in CVR Energy in the 4th quarter valued at approximately $198,000. GTS Securities LLC purchased a new position in CVR Energy in the fourth quarter valued at about $197,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in CVR Energy by 1.7% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 60,282 shares of the oil and gas company’s stock worth $1,130,000 after purchasing an additional 1,035 shares during the last quarter. Two Sigma Investments LP lifted its holdings in shares of CVR Energy by 56.2% during the 4th quarter. Two Sigma Investments LP now owns 750,195 shares of the oil and gas company’s stock valued at $14,059,000 after buying an additional 269,763 shares during the last quarter. Finally, Thomist Capital Management LP bought a new stake in shares of CVR Energy in the 4th quarter valued at approximately $781,000. Institutional investors and hedge funds own 98.88% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on CVI shares. The Goldman Sachs Group decreased their target price on CVR Energy from $24.00 to $21.00 and set a “sell” rating for the company in a research note on Friday, December 6th. StockNews.com raised shares of CVR Energy from a “sell” rating to a “hold” rating in a research note on Wednesday, February 19th. Finally, Mizuho lifted their price target on shares of CVR Energy from $18.00 to $20.00 and gave the stock a “neutral” rating in a research report on Monday, December 16th. Five investment analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. According to data from MarketBeat.com, CVR Energy currently has an average rating of “Reduce” and an average price target of $23.00.

About CVR Energy

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.