Carl C. Icahn Buys 878,212 Shares of CVR Energy, Inc. (NYSE:CVI) Stock

CVR Energy, Inc. (NYSE:CVI) major shareholder Carl C. Icahn purchased 878,212 shares of the business’s stock in a transaction that occurred on Wednesday, January 8th. The stock was acquired at an average cost of $18.25 per share, with a total value of $16,027,369.00. Following the completion of the acquisition, the insider now directly owns 67,570,593 shares of the company’s stock, 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 Securities & Exchange Commission, which is available at this hyperlink. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

CVR Energy Trading Up 2.0 %

NYSE:CVI opened at $18.97 on Friday. The company has a current ratio of 1.33, a quick ratio of 0.86 and a debt-to-equity ratio of 1.84. CVR Energy, Inc. has a 1-year low of $15.60 and a 1-year high of $38.07. The firm has a market capitalization of $1.91 billion, a price-to-earnings ratio of 27.49 and a beta of 1.58. The business’s 50-day moving average price is $18.57 and its two-hundred day moving average price is $22.34.

CVR Energy (NYSE:CVI) last announced its quarterly 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). The firm had revenue of $1.83 billion during the quarter, compared to analyst estimates of $1.91 billion. CVR Energy had a net margin of 0.89% and a return on equity of 2.88%. The business’s revenue was down 27.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.89 earnings per share. On average, equities analysts expect that CVR Energy, Inc. will post -0.12 earnings per share for the current year.

Hedge Funds Weigh In On CVR Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Headlands Technologies LLC raised its stake in CVR Energy by 820.5% during the 2nd quarter. Headlands Technologies LLC now owns 1,482 shares of the oil and gas company’s stock worth $40,000 after buying an additional 1,321 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in shares of CVR Energy in the third quarter worth about $43,000. Future Financial Wealth Managment LLC acquired a new stake in shares of CVR Energy during the third quarter worth about $46,000. Larson Financial Group LLC lifted 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 purchasing an additional 2,698 shares in the last quarter. Finally, Quest Partners LLC grew its position in shares of CVR Energy by 47.3% in the 2nd quarter. Quest Partners LLC now owns 3,485 shares of the oil and gas company’s stock valued at $93,000 after purchasing an additional 1,119 shares during the period. 98.88% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

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.