CVR Energy, Inc. (NYSE:CVI) Major Shareholder Acquires $2,177,354.16 in Stock

CVR Energy, Inc. (NYSE:CVI - Get Free Report) major shareholder Carl C. Icahn acquired 122,049 shares of the firm's stock in a transaction dated Wednesday, March 5th. The shares were purchased at an average cost of $17.84 per share, for a total transaction of $2,177,354.16. Following the completion of the acquisition, the insider now directly owns 68,069,902 shares in the company, valued at approximately $1,214,367,051.68. This represents a 0.18 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Large shareholders that own at least 10% of a company's shares are required to disclose their transactions with the SEC.

CVR Energy Trading Down 1.2 %

NYSE CVI traded down $0.21 during trading on Tuesday, hitting $17.97. The stock had a trading volume of 420,783 shares, compared to its average volume of 1,179,563. CVR Energy, Inc. has a one year low of $15.60 and a one year high of $38.07. The stock has a 50 day simple moving average of $19.35 and a 200 day simple moving average of $20.55. The stock has a market capitalization of $1.81 billion, a price-to-earnings ratio of 299.42 and a beta of 1.55. 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 - Get Free Report) last issued its quarterly earnings results on Tuesday, February 18th. The oil and gas company reported ($0.13) earnings per share (EPS) 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 the consensus estimate of $1.85 billion. Sell-side analysts predict that CVR Energy, Inc. will post -0.12 earnings per share for the current year.

Remove Ads

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Mizuho increased their price objective on shares of CVR Energy from $18.00 to $20.00 and gave the company a "neutral" rating in a research report on Monday, December 16th. The Goldman Sachs Group reduced their price objective on CVR Energy from $24.00 to $21.00 and set a "sell" rating on the stock in a research note on Friday, December 6th. Finally, StockNews.com raised CVR Energy from a "sell" rating to a "hold" rating in a research note on Wednesday, February 19th. Five analysts have rated the stock with a sell rating and three have given a hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Reduce" and a consensus target price of $23.00.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in CVR Energy by 3.9% in the 4th quarter. Vanguard Group Inc. now owns 4,135,315 shares of the oil and gas company's stock valued at $77,496,000 after buying an additional 154,125 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of CVR Energy by 12.3% during the fourth 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 acquiring an additional 238,081 shares in the last quarter. State Street Corp boosted its holdings in shares of CVR Energy by 18.1% in the third quarter. State Street Corp now owns 2,075,058 shares of the oil and gas company's stock valued at $47,789,000 after purchasing an additional 317,475 shares during the period. Charles Schwab Investment Management Inc. grew its stake in CVR Energy by 22.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 783,079 shares of the oil and gas company's stock worth $14,675,000 after purchasing an additional 143,941 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its holdings in CVR Energy by 36.6% during 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 purchasing an additional 207,872 shares during the period. 98.88% of the stock is currently owned by 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.