Carl C. Icahn Buys 61,108 Shares of CVR Energy, Inc. (NYSE:CVI) Stock

CVR Energy, Inc. (NYSE:CVI) major shareholder Carl C. Icahn bought 61,108 shares of CVR Energy stock in a transaction that occurred on Thursday, April 3rd. The stock was purchased at an average price of $18.12 per share, with a total value of $1,107,276.96. Following the purchase, the insider now directly owns 68,595,378 shares in the company, valued at $1,242,948,249.36. The trade was a 0.09 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

CVR Energy Price Performance

NYSE:CVI traded up $0.24 during trading hours on Monday, reaching $16.30. 1,994,110 shares of the company were exchanged, compared to its average volume of 1,219,957. 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 firm has a market cap of $1.64 billion, a PE ratio of 271.63 and a beta of 1.26. CVR Energy, Inc. has a twelve month low of $15.29 and a twelve month high of $37.66. The stock’s 50-day moving average is $19.27 and its 200-day moving average is $20.02.

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

Wall Street Analyst Weigh In

A number of research analysts have issued reports on CVI shares. StockNews.com raised CVR Energy from a “sell” rating to a “hold” rating in a report on Wednesday, February 19th. Mizuho raised their price target 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. Finally, The Goldman Sachs Group decreased their price objective on shares of 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 research analysts have rated the stock with a sell rating and three have given a hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Reduce” and an average price target of $22.20.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. State Street Corp boosted its stake in CVR Energy by 18.1% during the third 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 boosted its position in CVR Energy by 56.2% in 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 period. Millennium Management LLC boosted 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 buying an additional 264,143 shares during the period. ExodusPoint Capital Management LP increased its position in shares of CVR Energy by 744.9% during 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 acquiring an additional 258,436 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in shares of CVR Energy by 12.3% in 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 acquiring an additional 238,081 shares in the last quarter. Institutional investors and hedge funds own 98.88% of the company’s stock.

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.