Insider Buying: CVR Energy, Inc. (NYSE:CVI) Major Shareholder Acquires 192,676 Shares of Stock

CVR Energy, Inc. (NYSE:CVI) major shareholder Carl C. Icahn bought 192,676 shares of the firm’s stock in a transaction on Friday, April 11th. The shares were purchased at an average cost of $17.31 per share, with a total value of $3,335,221.56. Following the transaction, the insider now directly owns 69,965,303 shares in the company, valued at approximately $1,211,099,394.93. This trade represents a 0.28 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 Trading Up 0.6 %

NYSE:CVI opened at $17.83 on Thursday. The company has a market cap of $1.79 billion, a PE ratio of 297.22 and a beta of 1.26. The company has a debt-to-equity ratio of 2.15, a current ratio of 1.66 and a quick ratio of 0.86. CVR Energy, Inc. has a one year low of $15.10 and a one year high of $34.18. The firm has a 50-day moving average of $18.88 and a 200-day moving average of $19.64.

CVR Energy (NYSE:CVI) last announced its earnings results on Tuesday, February 18th. The oil and gas company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.12). The company 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%. As a group, equities research analysts expect that CVR Energy, Inc. will post -0.12 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in CVI. State Street Corp increased its position in shares of CVR Energy by 18.1% during the third quarter. State Street Corp now owns 2,075,058 shares of the oil and gas company’s stock valued at $47,789,000 after acquiring an additional 317,475 shares during the last quarter. Two Sigma Investments LP boosted its stake in CVR Energy by 56.2% in the fourth quarter. Two Sigma Investments LP now owns 750,195 shares of the oil and gas company’s stock valued at $14,059,000 after acquiring an additional 269,763 shares during the last quarter. Millennium Management LLC increased its stake in shares of CVR Energy by 1,203.0% during the 4th quarter. Millennium Management LLC now owns 286,100 shares of the oil and gas company’s stock worth $5,362,000 after purchasing an additional 264,143 shares during the last quarter. ExodusPoint Capital Management LP raised its holdings in shares of CVR Energy by 744.9% in the 4th quarter. ExodusPoint Capital Management LP now owns 293,129 shares of the oil and gas company’s stock worth $5,493,000 after purchasing an additional 258,436 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in CVR Energy by 12.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,181,295 shares of the oil and gas company’s stock valued at $40,876,000 after purchasing an additional 238,081 shares during the last quarter. 98.88% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on CVI shares. Mizuho boosted their price target on CVR Energy from $20.00 to $21.00 and gave the company a “neutral” rating in a research note on Tuesday, April 1st. StockNews.com upgraded shares of CVR Energy from a “sell” rating to a “hold” rating in a report on Wednesday, February 19th. Scotiabank reduced their target price on CVR Energy from $22.00 to $16.00 and set a “sector underperform” rating for the company in a research note on Friday, April 11th. Finally, 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. Five equities research analysts have rated the stock with a sell rating and three have given a hold rating to the stock. According to MarketBeat, CVR Energy presently has a consensus rating of “Reduce” and a consensus target price of $21.20.

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.