Carl C. Icahn Acquires 41,130 Shares of CVR Energy, Inc. (NYSE:CVI) Stock

CVR Energy, Inc. (NYSE:CVI) major shareholder Carl C. Icahn purchased 41,130 shares of the business’s stock in a transaction that occurred on Friday, April 25th. The shares were purchased at an average price of $18.16 per share, for a total transaction of $746,920.80. Following the completion of the acquisition, the insider now owns 70,410,564 shares of the company’s stock, valued at $1,278,655,842.24. The trade was a 0.06 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

CVR Energy Price Performance

Shares of NYSE CVI opened at $18.72 on Tuesday. The stock has a market cap of $1.88 billion, a PE ratio of 312.05 and a beta of 1.26. CVR Energy, Inc. has a fifty-two week low of $15.10 and a fifty-two week high of $33.51. 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 stock has a fifty day moving average of $18.79 and a 200-day moving average of $19.29.

CVR Energy (NYSE:CVI) last announced its quarterly earnings results on Tuesday, February 18th. The oil and gas company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.12). The company had revenue of $1.95 billion during 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%. Equities research analysts anticipate that CVR Energy, Inc. will post -0.12 earnings per share for the current year.

Hedge Funds Weigh In On CVR Energy

Several hedge funds have recently made changes to their positions in CVI. Barclays PLC grew its position in CVR Energy by 214.3% during the third quarter. Barclays PLC now owns 78,030 shares of the oil and gas company’s stock worth $1,797,000 after buying an additional 53,203 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in CVR Energy by 22.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 783,079 shares of the oil and gas company’s stock worth $14,675,000 after buying an additional 143,941 shares in the last quarter. D.A. Davidson & CO. purchased a new position in CVR Energy during the fourth quarter worth about $736,000. Vanguard Group Inc. grew its position in CVR Energy by 3.9% during the fourth quarter. Vanguard Group Inc. now owns 4,135,315 shares of the oil and gas company’s stock worth $77,496,000 after buying an additional 154,125 shares in the last quarter. Finally, Groesbeck Investment Management Corp NJ purchased a new position in CVR Energy during the fourth quarter worth about $637,000. 98.88% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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