Carl C. Icahn Purchases 122,049 Shares of CVR Energy, Inc. (NYSE:CVI) Stock

CVR Energy, Inc. (NYSE:CVI) major shareholder Carl C. Icahn purchased 122,049 shares of CVR Energy stock in a transaction that occurred on Wednesday, March 5th. The stock was bought at an average cost of $17.84 per share, for a total transaction of $2,177,354.16. Following the purchase, the insider now directly owns 68,069,902 shares in the company, valued at $1,214,367,051.68. This trade represents a 0.18 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

CVR Energy Stock Performance

Shares of NYSE CVI opened at $18.08 on Friday. The company has a current ratio of 1.66, a quick ratio of 0.86 and a debt-to-equity ratio of 2.15. The stock has a market cap of $1.82 billion, a price-to-earnings ratio of 301.30 and a beta of 1.55. The company has a 50 day simple moving average of $19.36 and a two-hundred day simple moving average of $20.63. CVR Energy, Inc. has a 12 month low of $15.60 and a 12 month high of $38.07.

CVR Energy (NYSE:CVI) last posted its 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). The firm had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.85 billion. CVR Energy had a net margin of 0.09% and a negative return on equity of 5.12%. As a group, analysts predict that CVR Energy, Inc. will post -0.12 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on CVI shares. The Goldman Sachs Group reduced 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. Mizuho raised their price target on shares of CVR Energy from $18.00 to $20.00 and gave the company a “neutral” rating in a report on Monday, December 16th. Finally, StockNews.com upgraded shares of CVR Energy from a “sell” rating to a “hold” rating in a report on Wednesday, February 19th. Five equities research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus target price of $23.00.

Hedge Funds Weigh In On CVR Energy

Large investors have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. raised its position in shares of CVR Energy by 14.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 639,138 shares of the oil and gas company’s stock valued at $14,719,000 after buying an additional 81,590 shares during the last quarter. Barclays PLC boosted its stake in CVR Energy by 214.3% during the third quarter. Barclays PLC now owns 78,030 shares of the oil and gas company’s stock worth $1,797,000 after buying an additional 53,203 shares during the period. Royce & Associates LP boosted its stake in CVR Energy by 58.1% during the third quarter. Royce & Associates LP now owns 101,043 shares of the oil and gas company’s stock worth $2,327,000 after buying an additional 37,130 shares during the period. State Street Corp lifted its position in shares of CVR Energy by 18.1% during the third quarter. State Street Corp now owns 2,075,058 shares of the oil and gas company’s stock worth $47,789,000 after purchasing an additional 317,475 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC acquired a new stake in shares of CVR Energy during the third quarter worth about $5,335,000. 98.88% of the stock is currently owned by institutional investors and hedge funds.

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.