CVR Energy (NYSE:CVI) Trading Up 4.2% Following Insider Buying Activity

CVR Energy, Inc. (NYSE:CVI)’s share price shot up 4.2% during trading on Monday following insider buying activity. The stock traded as high as $19.76 and last traded at $19.74. 106,639 shares changed hands during mid-day trading, a decline of 87% from the average session volume of 834,590 shares. The stock had previously closed at $18.95.

Specifically, major shareholder Carl C. Icahn bought 878,212 shares of the firm’s stock in a transaction on Wednesday, January 8th. The stock was purchased at an average cost of $18.25 per share, with a total value of $16,027,369.00. Following the completion of the purchase, the insider now owns 67,570,593 shares in the company, valued at approximately $1,233,163,322.25. The trade was a 1.32 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Wall Street Analyst Weigh In

A number of analysts have recently commented on CVI shares. JPMorgan Chase & Co. reduced their price objective on CVR Energy from $26.00 to $23.00 and set an “underweight” rating for the company in a research report on Wednesday, October 2nd. Scotiabank decreased their price target on shares of CVR Energy from $25.00 to $21.00 and set a “sector underperform” rating for the company in a research note on Thursday, October 10th. Mizuho boosted their price objective on shares of CVR Energy from $18.00 to $20.00 and gave the stock a “neutral” rating in a research 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 on the stock in a research note on Friday, December 6th. Finally, StockNews.com lowered CVR Energy from a “hold” rating to a “sell” rating in a report on Saturday, December 14th. Six equities research analysts have rated the stock with a sell rating and two have given a hold rating to the stock. According to MarketBeat, CVR Energy has an average rating of “Reduce” and an average price target of $23.00.

CVR Energy Price Performance

The company’s 50 day moving average is $18.65 and its 200-day moving average is $22.26. The firm has a market capitalization of $2.05 billion, a price-to-earnings ratio of 29.55 and a beta of 1.57. The company has a current ratio of 1.33, a quick ratio of 0.86 and a debt-to-equity ratio of 1.84.

CVR Energy (NYSE:CVI) last issued its earnings results on Monday, October 28th. The oil and gas company reported ($0.50) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.41). CVR Energy had a return on equity of 2.88% and a net margin of 0.89%. The business had revenue of $1.83 billion for the quarter, compared to the consensus estimate of $1.91 billion. During the same quarter in the prior year, the firm posted $1.89 earnings per share. The business’s revenue was down 27.3% compared to the same quarter last year. Equities research analysts anticipate that CVR Energy, Inc. will post -0.16 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Amalgamated Bank increased its position in 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 acquiring an additional 849 shares during the period. Quest Partners LLC boosted its stake in shares of CVR Energy by 47.3% in the second quarter. Quest Partners LLC now owns 3,485 shares of the oil and gas company’s stock valued at $93,000 after buying an additional 1,119 shares during the period. Headlands Technologies LLC grew its position in CVR Energy by 820.5% during the second quarter. Headlands Technologies LLC now owns 1,482 shares of the oil and gas company’s stock worth $40,000 after buying an additional 1,321 shares in the last quarter. Mercer Global Advisors Inc. ADV increased its stake in CVR Energy by 27.7% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 7,799 shares of the oil and gas company’s stock worth $209,000 after acquiring an additional 1,692 shares during the period. Finally, Louisiana State Employees Retirement System raised its holdings in CVR Energy by 12.2% in the 3rd quarter. Louisiana State Employees Retirement System now owns 16,500 shares of the oil and gas company’s stock valued at $380,000 after acquiring an additional 1,800 shares in the last quarter. Institutional investors and hedge funds own 98.88% of the company’s stock.

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.