Insider Buying: CVR Energy, Inc. (NYSE:CVI) Major Shareholder Purchases 138,853 Shares of Stock

CVR Energy, Inc. (NYSE:CVI) major shareholder Carl C. Icahn acquired 138,853 shares of the stock in a transaction on Wednesday, March 12th. The shares were bought at an average price of $18.01 per share, with a total value of $2,500,742.53. Following the purchase, the insider now directly owns 68,446,293 shares of the company’s stock, valued at $1,232,717,736.93. The trade was a 0.20 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

CVR Energy Price Performance

NYSE CVI opened at $18.28 on Friday. CVR Energy, Inc. has a one year low of $15.60 and a one year high of $38.07. The stock has a 50-day moving average of $19.32 and a 200 day moving average of $20.46. The company has a debt-to-equity ratio of 2.15, a quick ratio of 0.86 and a current ratio of 1.66. The company has a market capitalization of $1.84 billion, a price-to-earnings ratio of 304.63 and a beta of 1.55.

CVR Energy (NYSE:CVI) last announced 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). 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 analysts’ expectations of $1.85 billion. On average, sell-side analysts forecast that CVR Energy, Inc. will post -0.12 EPS for the current year.

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On CVR Energy

Hedge funds and other institutional investors have recently modified their holdings of the company. State Street Corp lifted its holdings in CVR Energy by 18.1% in the third quarter. State Street Corp now owns 2,075,058 shares of the oil and gas company’s stock valued at $47,789,000 after acquiring an additional 317,475 shares during the period. Two Sigma Investments LP increased its position 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 purchasing an additional 269,763 shares during the last quarter. Millennium Management LLC lifted its stake in shares of CVR Energy by 1,203.0% in the 4th quarter. Millennium Management LLC now owns 286,100 shares of the oil and gas company’s stock worth $5,362,000 after purchasing an additional 264,143 shares during the period. ExodusPoint Capital Management LP boosted its holdings in shares of CVR Energy by 744.9% in the fourth quarter. ExodusPoint Capital Management LP now owns 293,129 shares of the oil and gas company’s stock worth $5,493,000 after buying an additional 258,436 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in CVR Energy by 12.3% during the fourth 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 buying an additional 238,081 shares during the period. 98.88% of the stock is owned by 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.