Insider Buying: CVR Energy, Inc. (NYSE:CVI) Major Shareholder Acquires $16,027,369.00 in Stock

CVR Energy, Inc. (NYSE:CVI) major shareholder Carl C. Icahn bought 878,212 shares of the company’s stock in a transaction on Wednesday, January 8th. The stock was bought at an average cost of $18.25 per share, for a total transaction of $16,027,369.00. Following the completion of the acquisition, the insider now directly owns 67,570,593 shares of the company’s stock, valued at approximately $1,233,163,322.25. This represents a 1.32 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

CVR Energy Stock Performance

NYSE CVI opened at $18.97 on Monday. The company has a quick ratio of 0.86, a current ratio of 1.33 and a debt-to-equity ratio of 1.84. CVR Energy, Inc. has a twelve month low of $15.60 and a twelve month high of $38.07. The business has a 50-day moving average price of $18.57 and a 200-day moving average price of $22.31. The firm has a market cap of $1.91 billion, a price-to-earnings ratio of 27.49 and a beta of 1.58.

CVR Energy (NYSE:CVI) last announced its quarterly earnings data on Monday, October 28th. The oil and gas company reported ($0.50) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 period last year, the business earned $1.89 earnings per share. The company’s quarterly revenue was down 27.3% compared to the same quarter last year. As a group, equities research analysts predict that CVR Energy, Inc. will post -0.12 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently issued reports on CVI. The Goldman Sachs Group lowered their price objective on CVR Energy from $24.00 to $21.00 and set a “sell” rating on the stock in a research report on Friday, December 6th. Scotiabank dropped their target price on shares of CVR Energy from $25.00 to $21.00 and set a “sector underperform” rating on the stock in a report on Thursday, October 10th. JPMorgan Chase & Co. dropped their target price on CVR Energy from $26.00 to $23.00 and set an “underweight” rating on the stock in a research report on Wednesday, October 2nd. Mizuho increased their price target 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, StockNews.com downgraded CVR Energy from a “hold” rating to a “sell” rating in a research report on Saturday, December 14th. Six equities research analysts have rated the stock with a sell rating and two have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, CVR Energy has a consensus rating of “Reduce” and a consensus price target of $23.00.

Institutional Investors Weigh In On CVR Energy

Large investors have recently made changes to their positions in the company. Commonwealth Equity Services LLC grew its stake in shares of CVR Energy by 104.5% in the 2nd quarter. Commonwealth Equity Services LLC now owns 16,704 shares of the oil and gas company’s stock worth $447,000 after buying an additional 8,537 shares in the last quarter. Rhumbline Advisers increased its stake in CVR Energy by 5.6% during the second quarter. Rhumbline Advisers now owns 107,345 shares of the oil and gas company’s stock worth $2,874,000 after acquiring an additional 5,656 shares during the last quarter. Victory Capital Management Inc. raised its position in CVR Energy by 0.8% during the second quarter. Victory Capital Management Inc. now owns 324,017 shares of the oil and gas company’s stock valued at $8,674,000 after purchasing an additional 2,426 shares during the period. Quest Partners LLC lifted its stake in shares of CVR Energy by 47.3% in the 2nd quarter. Quest Partners LLC now owns 3,485 shares of the oil and gas company’s stock valued at $93,000 after purchasing an additional 1,119 shares during the last quarter. Finally, Texas Permanent School Fund Corp boosted its holdings in shares of CVR Energy by 176.7% in the 2nd quarter. Texas Permanent School Fund Corp now owns 70,609 shares of the oil and gas company’s stock worth $1,890,000 after purchasing an additional 45,094 shares during the period. 98.88% of the stock is owned by institutional investors.

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.