CVR Energy, Inc. (NYSE:CVI) Major Shareholder Carl C. Icahn Acquires 878,212 Shares

CVR Energy, Inc. (NYSE:CVI) major shareholder Carl C. Icahn bought 878,212 shares of the firm’s stock in a transaction that occurred on Wednesday, January 8th. The stock was acquired at an average price of $18.25 per share, for a total transaction of $16,027,369.00. Following the transaction, the insider now owns 67,570,593 shares in the company, valued at $1,233,163,322.25. This trade represents a 1.32 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

CVR Energy Trading Up 2.0 %

Shares of CVR Energy stock traded up $0.38 during midday trading on Friday, reaching $18.97. 685,225 shares of the company’s stock traded hands, compared to its average volume of 962,223. The company has a market cap of $1.91 billion, a PE ratio of 27.49 and a beta of 1.58. The stock has a 50 day moving average of $18.51 and a 200-day moving average of $22.42. CVR Energy, Inc. has a 12 month low of $15.60 and a 12 month high of $38.07. The company has a debt-to-equity ratio of 1.84, a quick ratio of 0.86 and a current ratio of 1.33.

CVR Energy (NYSE:CVI) last announced its quarterly earnings results on Monday, October 28th. The oil and gas company reported ($0.50) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.41). CVR Energy had a net margin of 0.89% and a return on equity of 2.88%. The company had revenue of $1.83 billion for the quarter, compared to analysts’ expectations of $1.91 billion. During the same quarter in the prior year, the firm earned $1.89 EPS. CVR Energy’s quarterly revenue was down 27.3% compared to the same quarter last year. As a group, equities analysts expect that CVR Energy, Inc. will post -0.12 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

CVI has been the topic of several analyst reports. Scotiabank decreased their price objective on CVR Energy from $25.00 to $21.00 and set a “sector underperform” rating on the stock in a report on Thursday, October 10th. Mizuho lifted their price target on CVR Energy from $18.00 to $20.00 and gave the stock a “neutral” rating in a research note on Monday, December 16th. StockNews.com lowered CVR Energy from a “hold” rating to a “sell” rating in a research note on Saturday, December 14th. JPMorgan Chase & Co. decreased their target price on shares of CVR Energy from $26.00 to $23.00 and set an “underweight” rating on the stock in a research note on Wednesday, October 2nd. Finally, The Goldman Sachs Group dropped their price target on shares of CVR Energy from $24.00 to $21.00 and set a “sell” rating for the company in a research report on Friday, December 6th. Six equities research analysts have rated the stock with a sell rating and two have given a hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce” and an average target price of $23.00.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in CVI. Amalgamated Bank grew its holdings in CVR Energy by 9.6% in the third quarter. Amalgamated Bank now owns 9,716 shares of the oil and gas company’s stock worth $224,000 after purchasing an additional 849 shares during the period. Quest Partners LLC grew 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 worth $93,000 after acquiring an additional 1,119 shares during the last quarter. Headlands Technologies LLC increased its holdings in shares of 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 valued at $40,000 after acquiring an additional 1,321 shares in the last quarter. Mercer Global Advisors Inc. ADV increased its holdings in shares of CVR Energy by 27.7% during the second quarter. Mercer Global Advisors Inc. ADV now owns 7,799 shares of the oil and gas company’s stock valued at $209,000 after acquiring an additional 1,692 shares in the last quarter. Finally, Louisiana State Employees Retirement System raised its position in shares of 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 worth $380,000 after purchasing an additional 1,800 shares during the last quarter. Hedge funds and other institutional investors own 98.88% of the company’s stock.

CVR Energy Company Profile

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.