Insider Buying: CVR Energy, Inc. (NYSE:CVI) Major Shareholder Acquires 61,108 Shares of Stock

CVR Energy, Inc. (NYSE:CVI) major shareholder Carl C. Icahn bought 61,108 shares of the business’s stock in a transaction that occurred on Thursday, April 3rd. The shares were purchased at an average price of $18.12 per share, for a total transaction of $1,107,276.96. Following the completion of the purchase, the insider now directly owns 68,595,378 shares of the company’s stock, valued at approximately $1,242,948,249.36. This trade represents a 0.09 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

CVR Energy Stock Performance

Shares of CVI traded up $0.24 during midday trading on Monday, reaching $16.30. 1,994,110 shares of the stock were exchanged, compared to its average volume of 1,219,957. CVR Energy, Inc. has a twelve month low of $15.29 and a twelve month high of $37.66. The company has a debt-to-equity ratio of 2.15, a current ratio of 1.66 and a quick ratio of 0.86. The company has a market capitalization of $1.64 billion, a price-to-earnings ratio of 271.63 and a beta of 1.26. The business’s 50-day moving average price is $19.27 and its 200 day moving average price is $20.02.

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). The firm had revenue of $1.95 billion for 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, sell-side analysts expect that CVR Energy, Inc. will post -0.12 EPS for the current fiscal year.

Institutional Trading of CVR Energy

Several institutional investors and hedge funds have recently bought and sold shares of CVI. State Street Corp increased its stake 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 purchasing an additional 317,475 shares during the period. Two Sigma Investments LP grew its holdings in shares of CVR Energy by 56.2% during 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 buying an additional 269,763 shares during the last quarter. Millennium Management LLC increased its position in 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 valued at $5,362,000 after acquiring an additional 264,143 shares during the period. ExodusPoint Capital Management LP increased its position in CVR Energy by 744.9% in 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 acquiring an additional 258,436 shares during the period. 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 acquiring an additional 238,081 shares during the last quarter. Hedge funds and other institutional investors own 98.88% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on CVI shares. Mizuho increased their price objective on shares of CVR Energy from $20.00 to $21.00 and gave the company a “neutral” rating in a research report on Tuesday, April 1st. StockNews.com upgraded CVR Energy from a “sell” rating to a “hold” rating in a research note on Wednesday, February 19th. Finally, The Goldman Sachs Group lowered their price objective on CVR Energy from $19.00 to $16.00 and set a “sell” rating for the company in a research report on Thursday, March 27th. Five equities research analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Reduce” and an average target price of $22.20.

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.