Carl C. Icahn Purchases 66,900 Shares of CVR Energy, Inc. (NYSE:CVI) Stock

CVR Energy, Inc. (NYSE:CVI) major shareholder Carl C. Icahn purchased 66,900 shares of CVR Energy stock in a transaction dated Monday, March 10th. The shares were purchased at an average cost of $18.15 per share, with a total value of $1,214,235.00. Following the acquisition, the insider now owns 68,217,972 shares of the company’s stock, valued at approximately $1,238,156,191.80. This trade represents a 0.10 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

CVR Energy Price Performance

NYSE CVI opened at $19.28 on Friday. CVR Energy, Inc. has a 12 month low of $15.60 and a 12 month high of $38.07. The firm has a market capitalization of $1.94 billion, a PE ratio of 321.30 and a beta of 1.55. The company’s 50 day simple moving average is $19.33 and its 200 day simple moving average is $20.44. 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) 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 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 analyst estimates of $1.85 billion. As a group, equities research analysts forecast that CVR Energy, Inc. will post -0.12 EPS for the current fiscal year.

Hedge Funds Weigh In On CVR Energy

Several hedge funds have recently made changes to their positions in the business. GF Fund Management CO. LTD. bought a new stake in CVR Energy during the fourth quarter worth approximately $198,000. GTS Securities LLC purchased a new stake in shares of CVR Energy during the fourth quarter valued at $197,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of CVR Energy by 1.7% during 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 last quarter. Two Sigma Investments LP boosted its position in shares of 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 valued at $14,059,000 after purchasing an additional 269,763 shares during the period. Finally, Thomist Capital Management LP purchased a new position in CVR Energy in the 4th quarter worth about $781,000. Institutional investors and hedge funds own 98.88% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. The Goldman Sachs Group reduced their target price on shares of CVR Energy from $24.00 to $21.00 and set a “sell” rating for the company in a research note on Friday, December 6th. StockNews.com upgraded CVR Energy from a “sell” rating to a “hold” rating in a research report on Wednesday, February 19th. Finally, Mizuho raised their target price on CVR Energy from $18.00 to $20.00 and gave the company a “neutral” rating in a research report on Monday, December 16th. Five investment analysts have rated the stock with a sell rating and three have given a hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently 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.