CVR Energy (NYSE:CVI) Trading Up 4.2% Following Insider Buying Activity

CVR Energy, Inc. (NYSE:CVI) shot up 4.2% during trading on Monday after an insider bought additional shares in the company. The stock traded as high as $19.76 and last traded at $19.74. 106,639 shares traded hands during mid-day trading, a decline of 87% from the average session volume of 834,590 shares. The stock had previously closed at $18.95.

Specifically, major shareholder Carl C. Icahn acquired 878,212 shares of CVR Energy stock in a transaction on Wednesday, January 8th. The shares were purchased at an average cost of $18.25 per share, with a total value of $16,027,369.00. Following the completion of the purchase, the insider now owns 67,570,593 shares in the company, valued at $1,233,163,322.25. The trade was a 1.32 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Wall Street Analyst Weigh In

CVI has been the subject of a number of research analyst reports. JPMorgan Chase & Co. decreased their target price on CVR Energy from $26.00 to $23.00 and set an “underweight” rating for the company in a research note on Wednesday, October 2nd. The Goldman Sachs Group reduced their price target on CVR Energy from $24.00 to $21.00 and set a “sell” rating for the company in a research report on Friday, December 6th. Mizuho upped their price target on shares of CVR Energy from $18.00 to $20.00 and gave the stock a “neutral” rating in a research report on Monday, December 16th. Scotiabank cut their price objective on CVR Energy from $25.00 to $21.00 and set a “sector underperform” rating for the company in a research report on Thursday, October 10th. Finally, StockNews.com downgraded shares of CVR Energy from a “hold” rating to a “sell” rating in a report on Saturday, December 14th. Six equities research analysts have rated the stock with a sell rating and two have given a hold rating to the company’s stock. According to data from MarketBeat, CVR Energy currently has an average rating of “Reduce” and an average price target of $23.00.

CVR Energy Stock Performance

The company has a market capitalization of $2.06 billion, a price-to-earnings ratio of 29.72 and a beta of 1.58. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.33 and a quick ratio of 0.86. The company’s 50-day moving average price is $18.65 and its two-hundred day moving average price is $22.26.

CVR Energy (NYSE:CVI) last posted its earnings results on Monday, October 28th. The oil and gas company reported ($0.50) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.41). CVR Energy had a return on equity of 2.88% and a net margin of 0.89%. The business had revenue of $1.83 billion during the quarter, compared to analyst estimates of $1.91 billion. During the same quarter in the prior year, the company earned $1.89 EPS. The company’s revenue was down 27.3% on a year-over-year basis. On average, equities research analysts anticipate that CVR Energy, Inc. will post -0.16 EPS for the current fiscal year.

Hedge Funds Weigh In On CVR Energy

Several institutional investors have recently added to or reduced their stakes in the stock. Headlands Technologies LLC increased its stake in shares of CVR Energy by 820.5% in the second quarter. Headlands Technologies LLC now owns 1,482 shares of the oil and gas company’s stock worth $40,000 after purchasing an additional 1,321 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of CVR Energy in the third quarter worth approximately $43,000. Future Financial Wealth Managment LLC purchased a new stake in shares of CVR Energy during the 3rd quarter valued at $46,000. Larson Financial Group LLC raised its holdings in shares of CVR Energy by 640.9% during the 3rd quarter. Larson Financial Group LLC now owns 3,119 shares of the oil and gas company’s stock valued at $72,000 after buying an additional 2,698 shares in the last quarter. Finally, Quest Partners LLC lifted its stake in CVR Energy by 47.3% in the second quarter. Quest Partners LLC now owns 3,485 shares of the oil and gas company’s stock worth $93,000 after purchasing an additional 1,119 shares during the last quarter. Institutional investors 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.