Carl C. Icahn Purchases 66,900 Shares of CVR Energy, Inc. (NYSE:CVI) Stock

CVR Energy, Inc. (NYSE:CVI) major shareholder Carl C. Icahn purchased 66,900 shares of the firm’s stock in a transaction on Monday, March 10th. The stock was bought at an average cost of $18.15 per share, with a total value of $1,214,235.00. Following the completion of the acquisition, the insider now directly owns 68,217,972 shares of the company’s stock, valued at $1,238,156,191.80. This trade represents a 0.10 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

CVR Energy Stock Performance

NYSE:CVI opened at $18.01 on Thursday. 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 stock has a market capitalization of $1.81 billion, a PE ratio of 300.25 and a beta of 1.55. CVR Energy, Inc. has a fifty-two week low of $15.60 and a fifty-two week high of $38.07. The company has a fifty day moving average of $19.32 and a two-hundred day moving average of $20.46.

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 for the quarter, missing the consensus estimate of ($0.01) by ($0.12). The company 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%. As a group, research analysts forecast that CVR Energy, Inc. will post -0.12 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently issued reports 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 note on Friday, December 6th. StockNews.com upgraded shares of CVR Energy from a “sell” rating to a “hold” rating in a research 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 research report on Monday, December 16th. Five research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. Based on data from MarketBeat, CVR Energy presently has a consensus rating of “Reduce” and a consensus target price of $23.00.

Hedge Funds Weigh In On CVR Energy

A number of hedge funds have recently made changes to their positions in CVI. Amalgamated Bank increased its position in shares of CVR Energy by 9.6% during the third quarter. Amalgamated Bank now owns 9,716 shares of the oil and gas company’s stock worth $224,000 after purchasing an additional 849 shares in the last quarter. CWA Asset Management Group LLC acquired a new stake in CVR Energy during the 3rd quarter worth $327,000. Victory Capital Management Inc. grew its holdings in shares of CVR Energy by 7.4% during the third quarter. Victory Capital Management Inc. now owns 347,969 shares of the oil and gas company’s stock worth $8,014,000 after buying an additional 23,952 shares in the last quarter. Royce & Associates LP raised its position in shares of CVR Energy by 58.1% in the third quarter. Royce & Associates LP now owns 101,043 shares of the oil and gas company’s stock valued at $2,327,000 after buying an additional 37,130 shares during the last quarter. Finally, Thrivent Financial for Lutherans lifted its stake in shares of CVR Energy by 10.9% in the third quarter. Thrivent Financial for Lutherans now owns 26,841 shares of the oil and gas company’s stock worth $618,000 after buying an additional 2,639 shares in the last quarter. Institutional investors and hedge funds own 98.88% of the company’s stock.

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.