CVR Energy, Inc. (NYSE:CVI - Get Free Report) major shareholder Carl C. Icahn acquired 203,382 shares of the business's stock in a transaction that occurred on Wednesday, April 9th. The shares were purchased at an average cost of $16.62 per share, for a total transaction of $3,380,208.84. Following the acquisition, the insider now owns 69,554,760 shares in the company, valued at $1,156,000,111.20. This represents a 0.29 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Large shareholders that own 10% or more of a company's stock are required to disclose their sales and purchases with the SEC.
CVR Energy Stock Down 4.8 %
CVI stock opened at $16.74 on Friday. The firm has a market capitalization of $1.68 billion, a PE ratio of 279.03 and a beta of 1.26. 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 twelve month low of $15.10 and a twelve month high of $36.06. The stock's 50 day moving average is $18.96 and its 200-day moving average is $19.78.
CVR Energy (NYSE:CVI - Get Free Report) last released its quarterly earnings results on Tuesday, February 18th. The oil and gas company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.12). The firm had revenue of $1.95 billion for the quarter, compared to analysts' expectations of $1.85 billion. CVR Energy had a negative return on equity of 5.12% and a net margin of 0.09%. Sell-side analysts expect that CVR Energy, Inc. will post -0.12 EPS for the current fiscal year.
Institutional Investors Weigh In On CVR Energy
A number of hedge funds have recently made changes to their positions in CVI. Vanguard Group Inc. grew its position in shares of CVR Energy by 3.9% during the 4th quarter. Vanguard Group Inc. now owns 4,135,315 shares of the oil and gas company's stock valued at $77,496,000 after acquiring an additional 154,125 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of CVR Energy by 12.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,181,295 shares of the oil and gas company's stock valued at $40,876,000 after purchasing an additional 238,081 shares during the period. State Street Corp increased 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 valued at $47,789,000 after buying an additional 317,475 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in CVR Energy by 22.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 783,079 shares of the oil and gas company's stock worth $14,675,000 after acquiring an additional 143,941 shares during the period. Finally, Jacobs Levy Equity Management Inc. raised its position in shares of CVR Energy by 36.6% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 776,313 shares of the oil and gas company's stock worth $14,548,000 after buying an additional 207,872 shares in the last quarter. 98.88% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
Several research firms recently commented on CVI. The Goldman Sachs Group cut their target price on shares of CVR Energy from $19.00 to $16.00 and set a "sell" rating on the stock in a research report on Thursday, March 27th. Mizuho boosted their price target on CVR Energy from $20.00 to $21.00 and gave the company a "neutral" rating in a research note on Tuesday, April 1st. Finally, StockNews.com raised shares of CVR Energy from a "sell" rating to a "hold" rating in a research report on Wednesday, February 19th. Five equities research analysts have rated the stock with a sell rating and three have given a hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Reduce" and an average target price of $22.20.
Get Our Latest Analysis on CVI
CVR Energy Company Profile
(
Get Free Report)
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.
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