Insider Buying: CVR Energy, Inc. (NYSE:CVI) Major Shareholder Buys 203,382 Shares of Stock

CVR Energy, Inc. (NYSE:CVI) major shareholder Carl C. Icahn purchased 203,382 shares of the business’s stock in a transaction that occurred on Wednesday, April 9th. The shares were purchased at an average cost of $16.62 per share, with a total value of $3,380,208.84. Following the completion of the acquisition, the insider now directly owns 69,554,760 shares in the company, valued at $1,156,000,111.20. The trade was a 0.29 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 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 Up 5.5 %

Shares of CVI opened at $17.72 on Friday. The business’s fifty day moving average price is $18.92 and its two-hundred day moving average price is $19.75. The firm has a market capitalization of $1.78 billion, a price-to-earnings ratio of 295.40 and a beta of 1.26. CVR Energy, Inc. has a 52 week low of $15.10 and a 52 week high of $36.06. The company has a debt-to-equity ratio of 2.15, a quick ratio of 0.86 and a current ratio of 1.66.

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

Institutional Investors Weigh In On CVR Energy

Institutional investors have recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in CVR Energy by 3.6% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,443 shares of the oil and gas company’s stock valued at $364,000 after acquiring an additional 683 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of CVR Energy by 55.3% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,052 shares of the oil and gas company’s stock valued at $38,000 after purchasing an additional 731 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of CVR Energy by 1.7% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 60,282 shares of the oil and gas company’s stock worth $1,130,000 after purchasing an additional 1,035 shares during the last quarter. IHT Wealth Management LLC grew its stake in shares of CVR Energy by 14.3% during the fourth quarter. IHT Wealth Management LLC now owns 10,176 shares of the oil and gas company’s stock worth $191,000 after purchasing an additional 1,275 shares during the period. Finally, New York State Teachers Retirement System increased its holdings in CVR Energy by 11.3% in the fourth quarter. New York State Teachers Retirement System now owns 13,812 shares of the oil and gas company’s stock valued at $259,000 after purchasing an additional 1,400 shares during the last quarter. Institutional investors and hedge funds own 98.88% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on CVI. Mizuho lifted their target price on shares of CVR Energy from $20.00 to $21.00 and gave the company a “neutral” rating in a research note on Tuesday, April 1st. StockNews.com upgraded CVR Energy from a “sell” rating to a “hold” rating in a research report on Wednesday, February 19th. Scotiabank decreased their target price on CVR Energy from $22.00 to $16.00 and set a “sector underperform” rating on the stock in a report on Friday. Finally, The Goldman Sachs Group cut their price target on CVR Energy from $19.00 to $16.00 and set a “sell” rating for the company in a report on Thursday, March 27th. Five research analysts have rated the stock with a sell rating and three have given a hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Reduce” and an average target price of $21.20.

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.