Carl C. Icahn Purchases 70,331 Shares of CVR Energy, Inc. (NYSE:CVI) Stock

CVR Energy, Inc. (NYSE:CVI) major shareholder Carl C. Icahn acquired 70,331 shares of CVR Energy stock in a transaction dated Wednesday, April 16th. The shares were acquired at an average price of $18.03 per share, with a total value of $1,268,067.93. Following the completion of the transaction, the insider now owns 70,195,813 shares of the company’s stock, valued at approximately $1,265,630,508.39. This trade represents a 0.10 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

CVR Energy Stock Up 2.1 %

CVI stock opened at $18.34 on Friday. The firm has a market cap of $1.84 billion, a PE ratio of 305.70 and a beta of 1.26. CVR Energy, Inc. has a 12 month low of $15.10 and a 12 month high of $34.08. The company has a debt-to-equity ratio of 2.15, a current ratio of 1.66 and a quick ratio of 0.86. The firm has a 50 day simple moving average of $18.84 and a 200 day simple moving average of $19.57.

CVR Energy (NYSE:CVI) last announced its quarterly earnings data 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). The company had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.85 billion. CVR Energy had a net margin of 0.09% and a negative return on equity of 5.12%. Equities research analysts forecast that CVR Energy, Inc. will post -0.12 earnings per share for the current fiscal year.

Institutional Investors Weigh In On CVR Energy

Hedge funds have recently modified their holdings of the stock. Harbor Capital Advisors Inc. lifted its stake in CVR Energy by 65.5% during the first quarter. Harbor Capital Advisors Inc. now owns 1,633 shares of the oil and gas company’s stock valued at $32,000 after buying an additional 646 shares in the last quarter. R Squared Ltd purchased a new stake in shares of CVR Energy in the 4th quarter valued at approximately $36,000. PNC Financial Services Group Inc. boosted its stake in CVR Energy by 55.3% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,052 shares of the oil and gas company’s stock worth $38,000 after purchasing an additional 731 shares during the period. GAMMA Investing LLC grew its position in CVR Energy by 106.6% during the 1st quarter. GAMMA Investing LLC now owns 2,159 shares of the oil and gas company’s stock worth $42,000 after purchasing an additional 1,114 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new stake in CVR Energy during the 3rd quarter valued at $43,000. 98.88% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CVI has been the subject of a number of analyst reports. Mizuho boosted their price target on CVR Energy from $20.00 to $21.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 1st. The Goldman Sachs Group decreased their target price on shares of CVR Energy from $19.00 to $16.00 and set a “sell” rating for the company in a research report on Thursday, March 27th. Scotiabank dropped their price target on shares of CVR Energy from $22.00 to $16.00 and set a “sector underperform” rating on the stock in a research report on Friday, April 11th. Finally, StockNews.com upgraded shares of CVR Energy from a “sell” rating to a “hold” rating in a research note on Wednesday, February 19th. Five analysts have rated the stock with a sell rating and three have given a hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus target price of $21.20.

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.