Carl C. Icahn Purchases 7,907 Shares of CVR Energy, Inc. (NYSE:CVI) Stock

CVR Energy, Inc. (NYSE:CVI) major shareholder Carl C. Icahn bought 7,907 shares of the stock in a transaction on Tuesday, April 29th. The stock was purchased at an average price of $18.21 per share, for a total transaction of $143,986.47. Following the completion of the purchase, the insider now directly owns 70,418,471 shares in the company, valued at approximately $1,282,320,356.91. This represents a 0.01 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

CVR Energy Stock Performance

NYSE:CVI opened at $20.21 on Friday. The company has a market capitalization of $2.03 billion, a price-to-earnings ratio of 336.89 and a beta of 1.26. The business has a 50 day moving average of $18.71 and a 200 day moving average of $19.22. The company has a debt-to-equity ratio of 2.15, a current ratio of 1.66 and a quick ratio of 0.86. CVR Energy, Inc. has a 1-year low of $15.10 and a 1-year high of $30.44.

CVR Energy (NYSE:CVI) last announced its quarterly earnings data on Monday, April 28th. The oil and gas company reported ($0.58) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.90) by $0.32. The company had revenue of $1.65 billion during the quarter, compared to analysts’ expectations of $1.61 billion. CVR Energy had a net margin of 0.09% and a negative return on equity of 5.12%. The firm’s revenue was down 11.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.04 EPS. On average, sell-side analysts predict that CVR Energy, Inc. will post -0.12 earnings per share for the current fiscal year.

Institutional Investors Weigh In On CVR Energy

Hedge funds and other institutional investors have recently modified their holdings of the stock. Two Sigma Investments LP increased its stake in CVR Energy by 56.2% in the 4th quarter. Two Sigma Investments LP now owns 750,195 shares of the oil and gas company’s stock worth $14,059,000 after purchasing an additional 269,763 shares during the period. Millennium Management LLC increased its stake in shares of 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 worth $5,362,000 after buying an additional 264,143 shares during the period. ExodusPoint Capital Management LP raised its holdings in CVR Energy by 744.9% during the 4th quarter. ExodusPoint Capital Management LP now owns 293,129 shares of the oil and gas company’s stock valued at $5,493,000 after buying an additional 258,436 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in CVR Energy by 12.3% during 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. Finally, Jacobs Levy Equity Management Inc. grew its holdings in CVR Energy by 36.6% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 776,313 shares of the oil and gas company’s stock worth $14,548,000 after acquiring an additional 207,872 shares during the last quarter. Institutional investors own 98.88% of the company’s stock.

Wall Street Analysts Forecast Growth

CVI has been the topic of a number of recent analyst reports. The Goldman Sachs Group lowered their price objective on 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 price target on CVR Energy from $22.00 to $16.00 and set a “sector underperform” rating on the stock in a report on Friday, April 11th. StockNews.com lowered CVR Energy from a “hold” rating to a “sell” rating in a report on Wednesday. Finally, Mizuho raised 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. Six equities research analysts have rated the stock with a sell rating and two have assigned a hold rating to the company’s stock. Based on data from MarketBeat, the stock 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.