Carl C. Icahn Purchases 244,200 Shares of CVR Energy, Inc. (NYSE:CVI) Stock

CVR Energy, Inc. (NYSE:CVI) major shareholder Carl C. Icahn bought 244,200 shares of the business’s stock in a transaction dated Monday, April 7th. The shares were purchased at an average price of $16.11 per share, for a total transaction of $3,934,062.00. Following the transaction, the insider now directly owns 69,107,178 shares of the company’s stock, valued at approximately $1,113,316,637.58. This represents a 0.35 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Major shareholders that own 10% or more 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 $16.16 on Wednesday. The stock has a fifty day moving average price of $19.06 and a 200 day moving average price of $19.86. CVR Energy, Inc. has a 1-year low of $15.10 and a 1-year high of $36.57. The company has a debt-to-equity ratio of 2.15, a current ratio of 1.66 and a quick ratio of 0.86. The company has a market cap of $1.62 billion, a PE ratio of 269.29 and a beta of 1.26.

CVR Energy (NYSE:CVI) last issued its 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 firm 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%. Sell-side analysts forecast that CVR Energy, Inc. will post -0.12 EPS for the current year.

Analyst Upgrades and Downgrades

CVI has been the topic of several research analyst reports. Mizuho lifted their price target 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 lowered their target price on shares of CVR Energy from $19.00 to $16.00 and set a “sell” rating on the stock in a research report on Thursday, March 27th. Finally, StockNews.com upgraded shares of CVR Energy from a “sell” rating to a “hold” rating in a research report on Wednesday, February 19th. Five investment analysts have rated the stock with a sell rating and three have issued a hold rating to the company. According to data from MarketBeat, the company has an average rating of “Reduce” and a consensus target price of $22.20.

Hedge Funds Weigh In On CVR Energy

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. boosted its stake in shares of CVR Energy by 14.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 639,138 shares of the oil and gas company’s stock valued at $14,719,000 after buying an additional 81,590 shares in the last quarter. FMR LLC boosted its position in shares of CVR Energy by 103.4% during the 3rd quarter. FMR LLC now owns 4,031 shares of the oil and gas company’s stock worth $93,000 after purchasing an additional 2,049 shares in the last quarter. Townsquare Capital LLC purchased a new stake in shares of CVR Energy during the 3rd quarter worth $221,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of CVR Energy by 18.5% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 59,247 shares of the oil and gas company’s stock valued at $1,364,000 after purchasing an additional 9,247 shares in the last quarter. Finally, Verition Fund Management LLC acquired a new stake in shares of CVR Energy in the third quarter valued at about $545,000. Institutional investors and hedge funds own 98.88% of the company’s stock.

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.