CVR Energy, Inc. (NYSE:CVI) Major Shareholder Carl C. Icahn Buys 76,268 Shares

CVR Energy, Inc. (NYSE:CVI) major shareholder Carl C. Icahn bought 76,268 shares of CVR Energy stock in a transaction on Friday, March 7th. The shares were acquired at an average price of $18.20 per share, for a total transaction of $1,388,077.60. Following the completion of the acquisition, the insider now owns 68,151,072 shares in the company, valued at $1,240,349,510.40. This represents a 0.11 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

CVR Energy Stock Performance

CVI traded down $0.28 during trading on Friday, hitting $18.08. 1,153,114 shares of the stock were exchanged, compared to its average volume of 1,180,083. The company has a quick ratio of 0.86, a current ratio of 1.66 and a debt-to-equity ratio of 2.15. CVR Energy, Inc. has a 1-year low of $15.60 and a 1-year high of $38.07. The stock has a fifty day moving average price of $19.37 and a two-hundred day moving average price of $20.68. The firm has a market capitalization of $1.82 billion, a P/E ratio of 301.30 and a beta of 1.55.

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

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. State Street Corp grew its stake in CVR Energy by 18.1% in the 3rd quarter. State Street Corp now owns 2,075,058 shares of the oil and gas company’s stock worth $47,789,000 after acquiring an additional 317,475 shares during the period. Two Sigma Investments LP grew its position in shares of CVR Energy by 56.2% in the fourth quarter. Two Sigma Investments LP now owns 750,195 shares of the oil and gas company’s stock valued at $14,059,000 after purchasing an additional 269,763 shares during the period. Millennium Management LLC increased its stake in 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 valued at $5,362,000 after purchasing an additional 264,143 shares during the last quarter. ExodusPoint Capital Management LP lifted its position in CVR Energy by 744.9% during the fourth quarter. ExodusPoint Capital Management LP now owns 293,129 shares of the oil and gas company’s stock worth $5,493,000 after buying an additional 258,436 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in CVR Energy by 12.3% in the 4th 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 buying an additional 238,081 shares during the period. Institutional investors and hedge funds own 98.88% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. StockNews.com raised CVR Energy from a “sell” rating to a “hold” rating in a research report on Wednesday, February 19th. The Goldman Sachs Group reduced their target price on shares of CVR Energy from $24.00 to $21.00 and set a “sell” rating on the stock in a report on Friday, December 6th. Finally, Mizuho boosted their price target on shares of CVR Energy from $18.00 to $20.00 and gave the stock a “neutral” rating in a report on Monday, December 16th. Five analysts have rated the stock with a sell rating and three have given a hold rating to the company’s stock. According to 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.