Insider Buying: CVR Energy, Inc. (NYSE:CVI) Major Shareholder Buys 70,331 Shares of Stock

CVR Energy, Inc. (NYSE:CVI - Get Free Report) major shareholder Carl C. Icahn bought 70,331 shares of the firm's stock in a transaction that occurred on Wednesday, April 16th. The shares were acquired at an average price of $18.03 per share, with a total value of $1,268,067.93. Following the purchase, the insider now owns 70,195,813 shares in the company, valued at $1,265,630,508.39. This trade represents a 0.10 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Major shareholders that own 10% or more of a company's stock are required to disclose their transactions with the SEC.

CVR Energy Price Performance

NYSE CVI traded down $0.59 during trading on Wednesday, reaching $17.89. 1,055,639 shares of the company traded hands, compared to its average volume of 1,240,775. CVR Energy, Inc. has a 1-year low of $15.10 and a 1-year high of $33.63. The company has a debt-to-equity ratio of 2.15, a quick ratio of 0.86 and a current ratio of 1.66. The stock's 50 day moving average price is $18.82 and its two-hundred day moving average price is $19.44. The company has a market cap of $1.80 billion, a price-to-earnings ratio of 298.13 and a beta of 1.26.

CVR Energy (NYSE:CVI - Get Free Report) last announced its quarterly earnings results on Tuesday, February 18th. The oil and gas company reported ($0.13) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.12). CVR Energy had a net margin of 0.09% and a negative return on equity of 5.12%. The company had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.85 billion. As a group, analysts anticipate that CVR Energy, Inc. will post -0.12 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on CVI shares. StockNews.com upgraded shares of CVR Energy from a "sell" rating to a "hold" rating in a research note on Wednesday, February 19th. The Goldman Sachs Group reduced their target price on shares of CVR Energy from $19.00 to $16.00 and set a "sell" rating for the company in a research note on Thursday, March 27th. Mizuho boosted their price target on CVR Energy from $20.00 to $21.00 and gave the company a "neutral" rating in a research note on Tuesday, April 1st. Finally, Scotiabank reduced their price objective on CVR Energy from $22.00 to $16.00 and set a "sector underperform" rating for the company in a research report on Friday, April 11th. Five analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Reduce" and an average target price of $21.20.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of CVI. Harbor Capital Advisors Inc. raised its position in CVR Energy by 65.5% in the 1st 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 last quarter. R Squared Ltd acquired a new stake in shares of CVR Energy in the fourth quarter valued at $36,000. PNC Financial Services Group Inc. raised its holdings in shares of CVR Energy by 55.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,052 shares of the oil and gas company's stock valued at $38,000 after buying an additional 731 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of CVR Energy by 106.6% in the first quarter. GAMMA Investing LLC now owns 2,159 shares of the oil and gas company's stock valued at $42,000 after buying an additional 1,114 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new stake in CVR Energy during the 3rd quarter worth about $43,000. Institutional investors own 98.88% of the company's stock.

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.