CVR Energy, Inc. (NYSE:CVI) Major Shareholder Carl C. Icahn Acquires 66,900 Shares

CVR Energy, Inc. (NYSE:CVI) major shareholder Carl C. Icahn bought 66,900 shares of the company’s stock in a transaction on Monday, March 10th. The shares were acquired at an average price of $18.15 per share, for a total transaction of $1,214,235.00. Following the completion of the acquisition, the insider now owns 68,217,972 shares in the company, valued at $1,238,156,191.80. This represents a 0.10 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

CVR Energy Stock Performance

Shares of CVI stock opened at $18.01 on Thursday. 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 company has a market cap of $1.81 billion, a PE ratio of 300.25 and a beta of 1.55. CVR Energy, Inc. has a 12-month low of $15.60 and a 12-month high of $38.07. The business’s fifty day simple moving average is $19.32 and its 200-day simple moving average is $20.46.

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 analysts’ consensus estimates 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 business had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $1.85 billion. Analysts expect that CVR Energy, Inc. will post -0.12 earnings per share for the current fiscal year.

Institutional Trading of CVR Energy

A number of institutional investors have recently bought and sold shares of CVI. Amalgamated Bank raised its holdings in shares of CVR Energy by 9.6% in the third 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 during the last quarter. CWA Asset Management Group LLC purchased a new position in shares of CVR Energy in the third quarter worth about $327,000. Victory Capital Management Inc. increased its holdings in CVR Energy by 7.4% in the 3rd 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 during the period. Royce & Associates LP boosted its holdings in shares of CVR Energy by 58.1% in the 3rd quarter. Royce & Associates LP now owns 101,043 shares of the oil and gas company’s stock valued at $2,327,000 after acquiring an additional 37,130 shares during the last quarter. Finally, Thrivent Financial for Lutherans increased 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 acquiring an additional 2,639 shares during the period. 98.88% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently issued reports on CVI. StockNews.com raised shares of CVR Energy from a “sell” rating to a “hold” rating in a report on Wednesday, February 19th. The Goldman Sachs Group dropped their target price on CVR Energy from $24.00 to $21.00 and set a “sell” rating on the stock in a research report on Friday, December 6th. Finally, Mizuho boosted their price target on CVR Energy from $18.00 to $20.00 and gave the stock a “neutral” rating in a research report on Monday, December 16th. Five analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. According to data from MarketBeat.com, the stock 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.