Carl C. Icahn Acquires 70,331 Shares of CVR Energy, Inc. (NYSE:CVI) Stock

CVR Energy, Inc. (NYSE:CVI) major shareholder Carl C. Icahn acquired 70,331 shares of the business’s stock in a transaction dated Wednesday, April 16th. The shares were bought at an average cost of $18.03 per share, for a total transaction of $1,268,067.93. Following the transaction, the insider now directly owns 70,195,813 shares of the company’s stock, valued at approximately $1,265,630,508.39. This trade represents a 0.10 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

CVR Energy Stock Performance

CVI traded up $0.38 during trading on Friday, hitting $18.34. 829,551 shares of the stock were exchanged, compared to its average volume of 1,237,072. The firm has a market capitalization of $1.84 billion, a P/E ratio of 305.70 and a beta of 1.26. CVR Energy, Inc. has a 1-year low of $15.10 and a 1-year high of $34.08. The stock has a fifty day moving average price of $18.86 and a two-hundred day moving average price of $19.63. 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 (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 analysts’ consensus estimates 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 business 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.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on CVI shares. Mizuho increased their price target on CVR Energy from $20.00 to $21.00 and gave the company a “neutral” rating in a research report on Tuesday, April 1st. The Goldman Sachs Group dropped their price objective on shares of CVR Energy from $19.00 to $16.00 and set a “sell” rating on the stock in a research report on Thursday, March 27th. Scotiabank lowered their target price on shares of CVR Energy from $22.00 to $16.00 and set a “sector underperform” rating for the company in a research note on Friday, April 11th. Finally, StockNews.com raised CVR Energy from a “sell” rating to a “hold” rating in a research report on Wednesday, February 19th. Five analysts have rated the stock with a sell rating and three have issued a hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Reduce” and a consensus price target of $21.20.

Institutional Trading of CVR Energy

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Harbor Capital Advisors Inc. increased its holdings in shares of CVR Energy by 65.5% in the first quarter. Harbor Capital Advisors Inc. now owns 1,633 shares of the oil and gas company’s stock valued at $32,000 after purchasing an additional 646 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in CVR Energy by 3.6% in the 4th 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 buying an additional 683 shares during the last quarter. PNC Financial Services Group Inc. raised its position in CVR Energy by 55.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,052 shares of the oil and gas company’s stock worth $38,000 after buying an additional 731 shares during the last quarter. SummerHaven Investment Management LLC lifted its stake in shares of CVR Energy by 2.5% in the 1st quarter. SummerHaven Investment Management LLC now owns 31,707 shares of the oil and gas company’s stock worth $615,000 after acquiring an additional 759 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of CVR Energy by 1.7% in the fourth 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 valued at $1,130,000 after acquiring an additional 1,035 shares in the last quarter. 98.88% of the stock is owned by hedge funds and other institutional investors.

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.