Insider Buying: CVR Energy, Inc. (NYSE:CVI) Major Shareholder Purchases $3,674,898.09 in Stock

CVR Energy, Inc. (NYSE:CVI) major shareholder Carl C. Icahn acquired 206,571 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The shares were purchased at an average cost of $17.79 per share, with a total value of $3,674,898.09. Following the completion of the acquisition, the insider now owns 67,780,774 shares in the company, valued at $1,205,819,969.46. This trade represents a 0.31 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 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 Up 1.4 %

Shares of CVI opened at $18.37 on Friday. 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 50-day simple moving average of $19.37 and a 200-day simple moving average of $20.69. CVR Energy, Inc. has a 52 week low of $15.60 and a 52 week high of $38.07. The firm has a market capitalization of $1.85 billion, a P/E ratio of 306.15 and a beta of 1.55.

CVR Energy (NYSE:CVI) last posted 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). CVR Energy had a net margin of 0.09% and a negative return on equity of 5.12%. The firm had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.85 billion. On average, equities research analysts expect that CVR Energy, Inc. will post -0.12 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. GF Fund Management CO. LTD. acquired a new stake in CVR Energy during the fourth quarter worth $198,000. GTS Securities LLC bought a new position in shares of CVR Energy during the 4th quarter worth about $197,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of CVR Energy by 1.7% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 60,282 shares of the oil and gas company’s stock valued at $1,130,000 after acquiring an additional 1,035 shares in the last quarter. Two Sigma Investments LP increased its stake in CVR Energy by 56.2% in the fourth quarter. Two Sigma Investments LP now owns 750,195 shares of the oil and gas company’s stock valued at $14,059,000 after acquiring an additional 269,763 shares during the period. Finally, Thomist Capital Management LP bought a new stake in CVR Energy in the fourth quarter valued at about $781,000. 98.88% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. The Goldman Sachs Group cut 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 report on Friday, December 6th. Mizuho boosted their price objective 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 raised CVR Energy from a “sell” rating to a “hold” rating in a report on Wednesday, February 19th. Five analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Reduce” and a consensus price target of $23.00.

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.