Carl C. Icahn Buys 192,676 Shares of CVR Energy, Inc. (NYSE:CVI) Stock

CVR Energy, Inc. (NYSE:CVI - Get Free Report) major shareholder Carl C. Icahn bought 192,676 shares of the company's stock in a transaction on Friday, April 11th. The stock was bought at an average cost of $17.31 per share, with a total value of $3,335,221.56. Following the completion of the acquisition, the insider now owns 69,965,303 shares of the company's stock, valued at $1,211,099,394.93. This represents a 0.28 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Large shareholders that own 10% or more of a company's shares are required to disclose their sales and purchases with the SEC.

CVR Energy Trading Up 2.1 %

NYSE:CVI traded up $0.38 on Friday, reaching $18.34. The stock had a trading volume of 829,551 shares, compared to its average volume of 1,241,797. CVR Energy, Inc. has a 12-month low of $15.10 and a 12-month high of $34.08. The company has a market cap of $1.84 billion, a price-to-earnings ratio of 305.70 and a beta of 1.26. The firm's fifty day moving average is $18.84 and its two-hundred day moving average is $19.54. 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 (NYSE:CVI - Get Free Report) last announced its quarterly earnings data 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). CVR Energy had a net margin of 0.09% and a negative return on equity of 5.12%. The firm had revenue of $1.95 billion for the quarter, compared to analysts' expectations of $1.85 billion. Equities analysts expect that CVR Energy, Inc. will post -0.12 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in CVI. Harbor Capital Advisors Inc. increased its stake in 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 last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of CVR Energy by 3.6% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,443 shares of the oil and gas company's stock worth $364,000 after acquiring an additional 683 shares during the period. PNC Financial Services Group Inc. lifted its holdings in shares of 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 acquiring an additional 731 shares during the period. SummerHaven Investment Management LLC boosted its position in shares of CVR Energy by 2.5% in the first 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 last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in 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 purchasing an additional 1,035 shares during the period. Hedge funds and other institutional investors own 98.88% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on CVI shares. Scotiabank lowered 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, April 11th. 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 report on Tuesday, April 1st. StockNews.com upgraded shares of CVR Energy from a "sell" rating to a "hold" rating in a research report on Wednesday, February 19th. Finally, The Goldman Sachs Group lowered their price target 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. Five equities research analysts have rated the stock with a sell rating and three have given a hold rating to the company. According to MarketBeat, CVR Energy currently has an average rating of "Reduce" and a consensus price target of $21.20.

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.