Carl C. Icahn Buys 206,571 Shares of CVR Energy, Inc. (NYSE:CVI) Stock

CVR Energy, Inc. (NYSE:CVI) major shareholder Carl C. Icahn purchased 206,571 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The shares were acquired at an average cost of $17.79 per share, with a total value of $3,674,898.09. Following the completion of the transaction, 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 acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

CVR Energy Trading Up 1.0 %

Shares of CVI opened at $18.16 on Thursday. CVR Energy, Inc. has a one year low of $15.60 and a one year high of $38.07. The stock has a 50-day moving average price of $19.37 and a 200 day moving average price of $20.69. 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 market capitalization of $1.83 billion, a P/E ratio of 302.63 and a beta of 1.55.

CVR Energy (NYSE:CVI) last released its 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). 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%. Sell-side analysts forecast that CVR Energy, Inc. will post -0.12 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on CVI. StockNews.com upgraded CVR Energy from a “sell” rating to a “hold” rating in a research note on Wednesday, February 19th. The Goldman Sachs Group reduced their price target 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 increased their price objective on shares of CVR Energy from $18.00 to $20.00 and gave the company a “neutral” rating in a research report on Monday, December 16th. Five investment analysts have rated the stock with a sell rating and three have issued a hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus target price of $23.00.

Institutional Inflows and Outflows

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

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.