Carl C. Icahn Purchases 206,571 Shares of CVR Energy, Inc. (NYSE:CVI) Stock

CVR Energy, Inc. (NYSE:CVI) major shareholder Carl C. Icahn purchased 206,571 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was acquired at an average cost of $17.79 per share, for a total transaction of $3,674,898.09. Following the completion of the purchase, the insider now owns 67,780,774 shares in the company, valued at $1,205,819,969.46. The trade was a 0.31 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

CVR Energy Trading Up 1.8 %

Shares of NYSE CVI traded up $0.31 during midday trading on Tuesday, hitting $18.02. The stock had a trading volume of 1,471,715 shares, compared to its average volume of 1,177,006. The company has a market capitalization of $1.81 billion, a price-to-earnings ratio of 300.38 and a beta of 1.57. CVR Energy, Inc. has a 1-year low of $15.60 and a 1-year high of $38.07. The company has a quick ratio of 0.86, a current ratio of 1.66 and a debt-to-equity ratio of 2.15. The company has a fifty day moving average price of $19.37 and a 200 day moving average price of $20.75.

CVR Energy (NYSE:CVI) last issued 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 net margin of 0.09% and a negative return on equity of 5.12%. The firm had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.85 billion. On average, analysts predict that CVR Energy, Inc. will post -0.12 earnings per share for the current year.

Institutional Trading of CVR Energy

Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its position in CVR Energy by 3.9% in the fourth quarter. Vanguard Group Inc. now owns 4,135,315 shares of the oil and gas company’s stock valued at $77,496,000 after acquiring an additional 154,125 shares in the last quarter. Dimensional Fund Advisors LP grew its position in 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 in the last quarter. State Street Corp grew its position 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 in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of CVR Energy by 22.5% during 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 buying an additional 143,941 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. grew its position in shares of CVR Energy by 36.6% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 776,313 shares of the oil and gas company’s stock worth $14,548,000 after buying an additional 207,872 shares in the last quarter. Institutional investors and hedge funds own 98.88% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on CVI. The Goldman Sachs Group decreased their price target on CVR Energy from $24.00 to $21.00 and set a “sell” rating on the stock in a research note on Friday, December 6th. StockNews.com raised CVR Energy from a “sell” rating to a “hold” rating in a research note on Wednesday, February 19th. Finally, Mizuho raised their price target on CVR Energy from $18.00 to $20.00 and gave the stock a “neutral” rating in a research note on Monday, December 16th. Five investment 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 currently has a consensus rating of “Reduce” and a consensus price target of $23.00.

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.