CVR Energy, Inc. (NYSE:CVI) Major Shareholder Buys $2,177,354.16 in Stock

CVR Energy, Inc. (NYSE:CVI) major shareholder Carl C. Icahn purchased 122,049 shares of CVR Energy stock in a transaction that occurred on Wednesday, March 5th. The stock was bought at an average cost of $17.84 per share, for a total transaction of $2,177,354.16. Following the purchase, the insider now directly owns 68,069,902 shares in the company, valued at $1,214,367,051.68. This trade represents a 0.18 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

CVR Energy Price Performance

NYSE CVI opened at $18.08 on Monday. The company has a market cap of $1.82 billion, a PE ratio of 301.30 and a beta of 1.55. The firm’s 50 day moving average price is $19.36 and its 200-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 52-week low of $15.60 and a 52-week high of $38.07.

CVR Energy (NYSE:CVI) last announced its earnings results 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 net margin of 0.09% and a negative return on equity of 5.12%. The company had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.85 billion. Sell-side analysts forecast that CVR Energy, Inc. will post -0.12 EPS for the current fiscal year.

Hedge Funds Weigh In On CVR Energy

Several institutional investors and hedge funds have recently added to or reduced their stakes in CVI. Wilmington Savings Fund Society FSB bought a new stake in shares of CVR Energy in the 3rd quarter valued at about $43,000. R Squared Ltd purchased a new stake in CVR Energy during the fourth quarter valued at approximately $36,000. PNC Financial Services Group Inc. boosted its stake in CVR Energy by 55.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,052 shares of the oil and gas company’s stock valued at $38,000 after acquiring an additional 731 shares in the last quarter. Larson Financial Group LLC grew its holdings in CVR Energy by 640.9% in the third quarter. Larson Financial Group LLC now owns 3,119 shares of the oil and gas company’s stock worth $72,000 after purchasing an additional 2,698 shares during the last quarter. Finally, FMR LLC increased its position in shares of CVR Energy by 103.4% during the third quarter. FMR LLC now owns 4,031 shares of the oil and gas company’s stock worth $93,000 after purchasing an additional 2,049 shares in the last quarter. Hedge funds and other institutional investors own 98.88% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. The Goldman Sachs Group reduced their target price on shares of CVR Energy from $24.00 to $21.00 and set a “sell” rating on the stock in a research report on Friday, December 6th. StockNews.com raised CVR Energy from a “sell” rating to a “hold” rating in a research note on Wednesday, February 19th. Finally, Mizuho lifted 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 equities research analysts have rated the stock with a sell rating and three have given a hold rating to the company. According to data from 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.