Carl C. Icahn Purchases 878,212 Shares of CVR Energy, Inc. (NYSE:CVI) Stock

CVR Energy, Inc. (NYSE:CVI) major shareholder Carl C. Icahn acquired 878,212 shares of CVR Energy stock in a transaction that occurred on Wednesday, January 8th. The shares were purchased at an average cost of $18.25 per share, with a total value of $16,027,369.00. Following the completion of the acquisition, the insider now owns 67,570,593 shares of the company’s stock, valued at $1,233,163,322.25. The trade was a 1.32 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

CVR Energy Stock Performance

NYSE:CVI opened at $18.97 on Friday. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.33 and a quick ratio of 0.86. The firm has a market cap of $1.91 billion, a PE ratio of 27.49 and a beta of 1.58. The firm has a 50 day simple moving average of $18.51 and a 200-day simple moving average of $22.42. CVR Energy, Inc. has a 1-year low of $15.60 and a 1-year high of $38.07.

CVR Energy (NYSE:CVI) last issued its quarterly earnings results on Monday, October 28th. The oil and gas company reported ($0.50) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.41). CVR Energy had a net margin of 0.89% and a return on equity of 2.88%. The business had revenue of $1.83 billion during the quarter, compared to analyst estimates of $1.91 billion. During the same quarter last year, the firm posted $1.89 earnings per share. The company’s revenue was down 27.3% on a year-over-year basis. On average, equities analysts expect that CVR Energy, Inc. will post -0.12 EPS for the current year.

Wall Street Analyst Weigh In

CVI has been the subject of a number of research analyst reports. JPMorgan Chase & Co. dropped their price target on CVR Energy from $26.00 to $23.00 and set an “underweight” rating for the company in a research report on Wednesday, October 2nd. Mizuho lifted their target price on shares of CVR Energy from $18.00 to $20.00 and gave the stock a “neutral” rating in a research report on Monday, December 16th. StockNews.com lowered shares of CVR Energy from a “hold” rating to a “sell” rating in a research report on Saturday, December 14th. Scotiabank cut their price objective on CVR Energy from $25.00 to $21.00 and set a “sector underperform” rating for the company in a research report on Thursday, October 10th. Finally, The Goldman Sachs Group lowered their target price on CVR Energy from $24.00 to $21.00 and set a “sell” rating on the stock in a report on Friday, December 6th. Six investment analysts have rated the stock with a sell rating and two have assigned a hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Reduce” and an average target price of $23.00.

Hedge Funds Weigh In On CVR Energy

Several large investors have recently added to or reduced their stakes in the business. Headlands Technologies LLC grew its holdings in CVR Energy by 820.5% in the 2nd quarter. Headlands Technologies LLC now owns 1,482 shares of the oil and gas company’s stock valued at $40,000 after buying an additional 1,321 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in shares of CVR Energy in the third quarter worth approximately $43,000. Future Financial Wealth Managment LLC acquired a new stake in shares of CVR Energy in the third quarter worth approximately $46,000. 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 valued at $72,000 after purchasing an additional 2,698 shares during the period. Finally, Quest Partners LLC increased its position in CVR Energy by 47.3% during the second quarter. Quest Partners LLC now owns 3,485 shares of the oil and gas company’s stock worth $93,000 after purchasing an additional 1,119 shares during the last quarter. 98.88% of the stock is currently owned by hedge funds and other institutional investors.

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.