Insider Buying: CVR Energy, Inc. (NYSE:CVI) Major Shareholder Buys $1,388,077.60 in Stock

CVR Energy, Inc. (NYSE:CVI) major shareholder Carl C. Icahn bought 76,268 shares of CVR Energy stock in a transaction that occurred on Friday, March 7th. The shares were acquired at an average price of $18.20 per share, with a total value of $1,388,077.60. Following the completion of the acquisition, the insider now directly owns 68,151,072 shares of the company’s stock, valued at $1,240,349,510.40. This represents a 0.11 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

CVR Energy Trading Down 1.5 %

NYSE CVI opened at $18.08 on Monday. The firm’s 50 day moving average price is $19.36 and its two-hundred day moving average price is $20.60. The company has a debt-to-equity ratio of 2.15, a quick ratio of 0.86 and a current ratio of 1.66. CVR Energy, Inc. has a twelve month low of $15.60 and a twelve month high of $38.07. The stock has a market cap of $1.82 billion, a price-to-earnings ratio of 301.30 and a beta of 1.55.

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

Hedge Funds Weigh In On CVR Energy

Institutional investors and hedge funds have recently bought and sold shares of the business. International Assets Investment Management LLC acquired a new position in shares of CVR Energy in the 3rd quarter valued at about $382,000. Louisiana State Employees Retirement System grew its position in CVR Energy by 12.2% during the third quarter. Louisiana State Employees Retirement System now owns 16,500 shares of the oil and gas company’s stock valued at $380,000 after purchasing an additional 1,800 shares in the last quarter. State of Alaska Department of Revenue increased its stake in CVR Energy by 14.0% in the 3rd quarter. State of Alaska Department of Revenue now owns 19,505 shares of the oil and gas company’s stock valued at $449,000 after buying an additional 2,388 shares during the period. Amalgamated Bank lifted its position in CVR Energy by 9.6% in the 3rd quarter. Amalgamated Bank now owns 9,716 shares of the oil and gas company’s stock worth $224,000 after buying an additional 849 shares in the last quarter. Finally, CWA Asset Management Group LLC acquired a new stake in shares of CVR Energy during the 3rd quarter valued at $327,000. Hedge funds and other institutional investors own 98.88% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. The Goldman Sachs Group cut their price objective on CVR Energy from $24.00 to $21.00 and set a “sell” rating for the company in a research report on Friday, December 6th. Mizuho boosted their target price on CVR Energy from $18.00 to $20.00 and gave the stock a “neutral” rating in a research report on Monday, December 16th. Finally, StockNews.com upgraded CVR Energy from a “sell” rating to a “hold” rating in a research report on Wednesday, February 19th. Five equities research analysts have rated the stock with a sell rating and three have given a hold rating to the company’s stock. According to MarketBeat, CVR Energy currently has a consensus rating of “Reduce” and a consensus 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.