CVR Energy (NYSE:CVI) Major Shareholder Buys $5,888,006.92 in Stock

CVR Energy Inc. (NYSE:CVI) major shareholder Carl Icahn bought 275,012 shares of the company’s stock in a transaction dated Tuesday, February 24th. The shares were purchased at an average price of $21.41 per share, with a total value of $5,888,006.92. Following the completion of the acquisition, the insider owned 71,201,875 shares of the company’s stock, valued at $1,524,432,143.75. This trade represents a 0.39% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

CVR Energy Trading Up 3.0%

NYSE:CVI traded up $0.63 during mid-day trading on Tuesday, reaching $21.70. 1,732,841 shares of the company’s stock traded hands, compared to its average volume of 1,390,099. The company has a 50 day moving average price of $24.21 and a 200-day moving average price of $30.28. The firm has a market capitalization of $2.18 billion, a price-to-earnings ratio of 83.47 and a beta of 1.16. The company has a debt-to-equity ratio of 1.95, a current ratio of 1.79 and a quick ratio of 1.13. CVR Energy Inc. has a 12-month low of $15.10 and a 12-month high of $41.67.

CVR Energy (NYSE:CVI) last released its quarterly earnings data on Wednesday, February 18th. The oil and gas company reported ($0.80) earnings per share for the quarter, topping the consensus estimate of ($0.84) by $0.04. CVR Energy had a negative return on equity of 14.31% and a net margin of 0.38%.The business had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.70 billion. During the same quarter last year, the business posted ($0.13) EPS. The business’s revenue was down 7.0% on a year-over-year basis. On average, sell-side analysts predict that CVR Energy Inc. will post -0.12 earnings per share for the current year.

CVR Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 9th. Investors of record on Monday, March 2nd will be issued a $0.37 dividend. The ex-dividend date is Monday, March 2nd. This represents a $1.48 annualized dividend and a yield of 6.8%.

Institutional Investors Weigh In On CVR Energy

Several hedge funds have recently bought and sold shares of CVI. Allianz Asset Management GmbH lifted its position in CVR Energy by 69.3% in the 3rd quarter. Allianz Asset Management GmbH now owns 458,214 shares of the oil and gas company’s stock valued at $16,716,000 after acquiring an additional 187,620 shares in the last quarter. Bayforest Capital Ltd purchased a new position in shares of CVR Energy in the third quarter worth $1,057,000. Russell Investments Group Ltd. raised its stake in shares of CVR Energy by 249.1% in the second quarter. Russell Investments Group Ltd. now owns 149,748 shares of the oil and gas company’s stock worth $4,021,000 after purchasing an additional 106,854 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new position in shares of CVR Energy during the second quarter valued at $2,179,000. Finally, SG Americas Securities LLC purchased a new stake in shares of CVR Energy during the third quarter valued at $1,021,000. Institutional investors own 98.88% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Wall Street Zen lowered shares of CVR Energy from a “hold” rating to a “sell” rating in a report on Saturday. Weiss Ratings cut shares of CVR Energy from a “hold (c)” rating to a “sell (d)” rating in a research report on Friday. One equities research analyst has rated the stock with a Hold rating and five have given a Sell rating to the company’s stock. Based on data from MarketBeat, CVR Energy presently has a consensus rating of “Strong Sell” and an average target price of $29.25.

About CVR Energy

CVR Energy, Inc is an independent downstream energy company engaged primarily in petroleum refining and nitrogen fertilizer production in the United States. Headquartered in Sugar Land, Texas, CVR Energy operates through two reportable segments—Petroleum Products and Nitrogen Fertilizers—leveraging its refining expertise and distribution network to serve both wholesale and retail markets across key regions in the U.S.

In its Petroleum Products segment, the company owns and operates the Coffeyville, Kansas refinery, which has the capability to process various grades of crude oil into gasoline, diesel, jet fuel and other refined products.