CVR Energy, Inc. (NYSE:CVI) Major Shareholder Carl C. Icahn Buys 192,676 Shares

CVR Energy, Inc. (NYSE:CVI) major shareholder Carl C. Icahn purchased 192,676 shares of CVR Energy 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 owns 69,965,303 shares in the company, valued at approximately $1,211,099,394.93. The trade was a 0.28 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

CVR Energy Stock Down 1.3 %

Shares of NYSE:CVI traded down $0.24 during mid-day trading on Tuesday, hitting $17.69. 824,196 shares of the company traded hands, compared to its average volume of 1,234,366. The company has a current ratio of 1.66, a quick ratio of 0.86 and a debt-to-equity ratio of 2.15. The stock has a 50-day moving average price of $18.89 and a two-hundred day moving average price of $19.65. CVR Energy, Inc. has a 12-month low of $15.10 and a 12-month high of $34.51. The stock has a market cap of $1.78 billion, a P/E ratio of 294.93 and a beta of 1.26.

CVR Energy (NYSE:CVI) last released its earnings results on Tuesday, February 18th. The oil and gas company reported ($0.13) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.12). The business had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.85 billion. CVR Energy had a negative return on equity of 5.12% and a net margin of 0.09%. On average, equities research analysts forecast that CVR Energy, Inc. will post -0.12 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. StockNews.com upgraded shares of CVR Energy from a “sell” rating to a “hold” rating in a research note on Wednesday, February 19th. Mizuho increased their price objective on CVR Energy from $20.00 to $21.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 1st. The Goldman Sachs Group cut their price target on CVR Energy from $19.00 to $16.00 and set a “sell” rating for the company in a research note on Thursday, March 27th. Finally, Scotiabank dropped their target price on shares of CVR Energy from $22.00 to $16.00 and set a “sector underperform” rating for the company in a research report on Friday. Five equities research analysts have rated the stock with a sell rating and three have given a hold rating to the company’s stock. Based on data from MarketBeat.com, CVR Energy has a consensus rating of “Reduce” and a consensus target price of $21.20.

Institutional Trading of CVR Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in CVI. State Street Corp increased its position in shares of 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 worth $47,789,000 after purchasing an additional 317,475 shares during the last quarter. Two Sigma Investments LP boosted its holdings in CVR Energy by 56.2% during the 4th 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 period. Millennium Management LLC grew its holdings in shares of CVR Energy by 1,203.0% in the fourth 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 grew its holdings in 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 acquiring an additional 258,436 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of 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 acquiring an additional 238,081 shares during the period. 98.88% of the stock is currently owned by institutional investors.

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.