Insider Buying: CVR Energy, Inc. (NYSE:CVI) Major Shareholder Buys 138,853 Shares of Stock

CVR Energy, Inc. (NYSE:CVI) major shareholder Carl C. Icahn purchased 138,853 shares of the stock in a transaction on Wednesday, March 12th. The stock was acquired at an average cost of $18.01 per share, for a total transaction of $2,500,742.53. Following the acquisition, the insider now directly owns 68,446,293 shares in the company, valued at approximately $1,232,717,736.93. This trade represents a 0.20 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

CVR Energy Trading Up 0.3 %

CVI stock traded up $0.05 during midday trading on Wednesday, reaching $18.01. The company’s stock had a trading volume of 1,434,545 shares, compared to its average volume of 1,185,960. The business’s 50-day simple moving average is $19.34 and its 200-day simple moving average is $20.51. The company has a quick ratio of 0.86, a current ratio of 1.66 and a debt-to-equity ratio of 2.15. CVR Energy, Inc. has a 52 week low of $15.60 and a 52 week high of $38.07. The stock has a market cap of $1.81 billion, a PE ratio of 300.25 and a beta of 1.55.

CVR Energy (NYSE:CVI) last posted 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 negative return on equity of 5.12% and a net margin of 0.09%. The company had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.85 billion. As a group, sell-side analysts expect that CVR Energy, Inc. will post -0.12 EPS for the current year.

Hedge Funds Weigh In On CVR Energy

Several institutional investors and hedge funds have recently made changes to their positions in CVI. Amalgamated Bank grew its stake 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 valued at $224,000 after acquiring an additional 849 shares during the period. CWA Asset Management Group LLC bought a new stake in shares of CVR Energy during the third quarter worth $327,000. Victory Capital Management Inc. raised its stake in shares of CVR Energy by 7.4% in the 3rd quarter. Victory Capital Management Inc. now owns 347,969 shares of the oil and gas company’s stock valued at $8,014,000 after purchasing an additional 23,952 shares during the period. Royce & Associates LP lifted its holdings in shares of CVR Energy by 58.1% in the third 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 in the last quarter. Finally, Thrivent Financial for Lutherans raised its position in CVR Energy by 10.9% in the 3rd quarter. Thrivent Financial for Lutherans now owns 26,841 shares of the oil and gas company’s stock valued at $618,000 after buying an additional 2,639 shares during the last quarter. Institutional investors and hedge funds own 98.88% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CVI. StockNews.com raised CVR Energy from a “sell” rating to a “hold” rating in a report on Wednesday, February 19th. Mizuho increased their target price 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. Finally, The Goldman Sachs Group cut 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. Five research analysts have rated the stock with a sell rating and three have given a hold rating to the company’s stock. According to MarketBeat.com, CVR Energy presently has an average rating of “Reduce” and a consensus price target of $23.00.

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.