Insider Buying: CVR Energy, Inc. (NYSE:CVI) Major Shareholder Buys 77,851 Shares of Stock

CVR Energy, Inc. (NYSE:CVI) major shareholder Carl C. Icahn bought 77,851 shares of the firm’s stock in a transaction that occurred on Monday, April 14th. The stock was bought at an average price of $17.90 per share, for a total transaction of $1,393,532.90. Following the completion of the acquisition, the insider now directly owns 70,043,154 shares in the company, valued at approximately $1,253,772,456.60. The trade was a 0.11 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

CVR Energy Price Performance

NYSE:CVI opened at $17.69 on Wednesday. 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 50-day moving average of $18.89 and a 200-day moving average of $19.65. CVR Energy, Inc. has a 52 week low of $15.10 and a 52 week high of $34.51. The company has a market capitalization of $1.78 billion, a price-to-earnings ratio of 294.93 and a beta of 1.26.

CVR Energy (NYSE:CVI) last released its quarterly earnings data 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). CVR Energy had a negative return on equity of 5.12% and a net margin of 0.09%. The company had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.85 billion. As a group, equities research analysts anticipate 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 and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in CVR Energy by 3.9% during the 4th 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. Dimensional Fund Advisors LP lifted its stake in shares of CVR Energy by 12.3% during 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 acquiring an additional 238,081 shares during the period. State Street Corp boosted its holdings in CVR Energy by 18.1% in 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. Charles Schwab Investment Management Inc. increased its position in CVR Energy by 22.5% in 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 purchasing an additional 143,941 shares during the period. Finally, Jacobs Levy Equity Management Inc. raised its holdings in CVR Energy by 36.6% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 776,313 shares of the oil and gas company’s stock worth $14,548,000 after purchasing an additional 207,872 shares during the last quarter. Institutional investors and hedge funds own 98.88% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on CVI shares. The Goldman Sachs Group reduced their target price on CVR Energy from $19.00 to $16.00 and set a “sell” rating for the company in a report on Thursday, March 27th. Scotiabank reduced their price objective 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. StockNews.com raised CVR Energy from a “sell” rating to a “hold” rating in a research note on Wednesday, February 19th. Finally, Mizuho increased their price target on shares of CVR Energy from $20.00 to $21.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 1st. Five equities research analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. According to MarketBeat.com, CVR Energy has a consensus rating of “Reduce” and an average price target 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.