Carl Icahn Purchases 263,452 Shares of CVR Energy (NYSE:CVI) Stock

CVR Energy Inc. (NYSE:CVI) major shareholder Carl Icahn acquired 263,452 shares of CVR Energy stock in a transaction on Friday, February 20th. The shares were bought at an average cost of $20.78 per share, with a total value of $5,474,532.56. Following the completion of the purchase, the insider owned 70,681,923 shares in the company, valued at $1,468,770,359.94. The trade was a 0.37% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

CVR Energy Stock Performance

Shares of NYSE:CVI traded up $0.63 during trading on Tuesday, reaching $21.70. The company had a trading volume of 1,732,841 shares, compared to its average volume of 1,390,099. 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. The stock’s fifty day moving average price is $24.21 and its 200 day moving average price is $30.28. CVR Energy Inc. has a fifty-two week low of $15.10 and a fifty-two week high of $41.67.

CVR Energy (NYSE:CVI) last posted its quarterly earnings data on Wednesday, February 18th. The oil and gas company reported ($0.80) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.84) by $0.04. The firm had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.70 billion. CVR Energy had a net margin of 0.38% and a negative return on equity of 14.31%. CVR Energy’s quarterly revenue was down 7.0% on a year-over-year basis. During the same period last year, the firm posted ($0.13) EPS. As a group, equities research analysts predict that CVR Energy Inc. will post -0.12 EPS for the current year.

CVR Energy Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research firms have issued reports on CVI. Wall Street Zen cut CVR Energy from a “hold” rating to a “sell” rating in a research report on Saturday. Weiss Ratings downgraded shares of CVR Energy from a “hold (c)” rating to a “sell (d)” rating in a report on Friday. One analyst has rated the stock with a Hold rating and five have issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Strong Sell” and an average price target of $29.25.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Bayforest Capital Ltd purchased a new position in CVR Energy during the 3rd quarter valued at about $1,057,000. Allianz Asset Management GmbH increased its stake in shares of CVR Energy by 69.3% during the 3rd quarter. Allianz Asset Management GmbH now owns 458,214 shares of the oil and gas company’s stock worth $16,716,000 after purchasing an additional 187,620 shares in the last quarter. Russell Investments Group Ltd. raised its position in shares of CVR Energy by 249.1% during the 2nd 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 purchased a new stake in CVR Energy in the 2nd quarter valued at approximately $2,179,000. Finally, SG Americas Securities LLC acquired a new stake in CVR Energy during the 3rd quarter valued at $1,021,000. Institutional investors and hedge funds own 98.88% of the company’s stock.

CVR Energy Company Profile

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.