Insider Buying: CVR Energy, Inc. (NYSE:CVI) Major Shareholder Acquires 66,900 Shares of Stock

CVR Energy, Inc. (NYSE:CVI - Get Free Report) major shareholder Carl C. Icahn purchased 66,900 shares of the firm's stock in a transaction on Monday, March 10th. The shares were purchased at an average price of $18.15 per share, for a total transaction of $1,214,235.00. Following the completion of the purchase, the insider now directly owns 68,217,972 shares of the company's stock, valued at $1,238,156,191.80. This represents a 0.10 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Major shareholders that own 10% or more of a company's shares are required to disclose their sales and purchases with the SEC.

CVR Energy Stock Performance

Shares of NYSE CVI traded up $0.99 during trading hours on Friday, reaching $19.30. The stock had a trading volume of 462,515 shares, compared to its average volume of 1,183,316. The firm has a market cap of $1.94 billion, a price-to-earnings ratio of 321.54 and a beta of 1.55. CVR Energy, Inc. has a fifty-two week low of $15.60 and a fifty-two week high of $38.07. The firm has a 50-day moving average of $19.32 and a 200-day moving average of $20.46. The company has a current ratio of 1.66, a quick ratio of 0.86 and a debt-to-equity ratio of 2.15.

CVR Energy (NYSE:CVI - Get Free Report) last announced its 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). The business had revenue of $1.95 billion for the quarter, compared to analysts' expectations of $1.85 billion. CVR Energy had a negative return on equity of 5.12% and a net margin of 0.09%. Equities research analysts predict that CVR Energy, Inc. will post -0.12 earnings per share for the current year.

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Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Amalgamated Bank grew its holdings in shares of CVR Energy by 9.6% during the third quarter. Amalgamated Bank now owns 9,716 shares of the oil and gas company's stock worth $224,000 after buying an additional 849 shares during the last quarter. CWA Asset Management Group LLC purchased a new stake in CVR Energy during the 3rd quarter valued at approximately $327,000. Victory Capital Management Inc. lifted its position in CVR Energy by 7.4% during the 3rd quarter. Victory Capital Management Inc. now owns 347,969 shares of the oil and gas company's stock worth $8,014,000 after acquiring an additional 23,952 shares during the period. Royce & Associates LP grew its stake in shares of CVR Energy by 58.1% in the 3rd quarter. Royce & Associates LP now owns 101,043 shares of the oil and gas company's stock valued at $2,327,000 after purchasing an additional 37,130 shares during the last quarter. Finally, Thrivent Financial for Lutherans increased its holdings in shares of CVR Energy by 10.9% in the third quarter. Thrivent Financial for Lutherans now owns 26,841 shares of the oil and gas company's stock valued at $618,000 after purchasing an additional 2,639 shares during the period. 98.88% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on CVI shares. Mizuho lifted their target price on CVR Energy from $18.00 to $20.00 and gave the company a "neutral" rating in a report on Monday, December 16th. The Goldman Sachs Group lowered their price target on shares of CVR Energy from $24.00 to $21.00 and set a "sell" rating for the company in a report on Friday, December 6th. Finally, StockNews.com upgraded shares of CVR Energy from a "sell" rating to a "hold" rating in a report on Wednesday, February 19th. Five investment analysts have rated the stock with a sell rating and three have given a hold rating to the stock. According to data from MarketBeat, CVR Energy presently has an average rating of "Reduce" and an average target price of $23.00.

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.