Carl C. Icahn Purchases 76,268 Shares of CVR Energy, Inc. (NYSE:CVI) Stock

CVR Energy, Inc. (NYSE:CVI) major shareholder Carl C. Icahn acquired 76,268 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The stock was purchased at an average price of $18.20 per share, for a total transaction of $1,388,077.60. Following the acquisition, the insider now directly owns 68,151,072 shares of the company’s stock, valued at $1,240,349,510.40. The trade was a 0.11 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

CVR Energy Price Performance

NYSE CVI opened at $18.08 on Monday. CVR Energy, Inc. has a 1 year low of $15.60 and a 1 year high of $38.07. The company has a fifty day simple moving average of $19.36 and a 200 day simple moving average of $20.60. The company has a current ratio of 1.66, a quick ratio of 0.86 and a debt-to-equity ratio of 2.15. The company has a market cap of $1.82 billion, a P/E ratio of 301.30 and a beta of 1.55.

CVR Energy (NYSE:CVI) last released its quarterly earnings results on Tuesday, February 18th. The oil and gas company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.12). The firm had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.85 billion. CVR Energy had a net margin of 0.09% and a negative return on equity of 5.12%. On average, sell-side analysts predict that CVR Energy, Inc. will post -0.12 EPS for the current year.

Institutional Trading of CVR Energy

Several hedge funds have recently added to or reduced their stakes in CVI. State Street Corp increased its position 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 worth $47,789,000 after buying an additional 317,475 shares during the period. Two Sigma Investments LP grew its stake in shares of CVR Energy by 56.2% in the fourth quarter. Two Sigma Investments LP now owns 750,195 shares of the oil and gas company’s stock worth $14,059,000 after acquiring an additional 269,763 shares during the last quarter. Millennium Management LLC increased its position in CVR Energy by 1,203.0% during the fourth quarter. Millennium Management LLC now owns 286,100 shares of the oil and gas company’s stock worth $5,362,000 after acquiring an additional 264,143 shares during the period. ExodusPoint Capital Management LP raised its stake in CVR Energy by 744.9% during the 4th quarter. ExodusPoint Capital Management LP now owns 293,129 shares of the oil and gas company’s stock valued at $5,493,000 after purchasing an additional 258,436 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in CVR Energy by 12.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,181,295 shares of the oil and gas company’s stock valued at $40,876,000 after purchasing an additional 238,081 shares during the last quarter. Institutional investors own 98.88% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. The Goldman Sachs Group decreased their target price 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. StockNews.com upgraded shares of CVR Energy from a “sell” rating to a “hold” rating in a report on Wednesday, February 19th. Finally, Mizuho raised their target price on CVR Energy from $18.00 to $20.00 and gave the company a “neutral” rating in a report on Monday, December 16th. Five investment analysts have rated the stock with a sell rating and three have issued a hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Reduce” and an average price target 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.