CVR Energy, Inc. (NYSE:CVI - Get Free Report) major shareholder Carl C. Icahn bought 70,331 shares of the company's stock in a transaction that occurred on Wednesday, April 16th. The stock was purchased at an average price of $18.03 per share, for a total transaction of $1,268,067.93. Following the acquisition, the insider now owns 70,195,813 shares of the company's stock, valued at $1,265,630,508.39. This trade represents a 0.10 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Large shareholders that own more than 10% of a company's shares are required to disclose their transactions with the SEC.
CVR Energy Price Performance
Shares of NYSE:CVI opened at $18.34 on Friday. CVR Energy, Inc. has a twelve month low of $15.10 and a twelve month high of $34.08. The stock's 50 day moving average is $18.84 and its 200-day moving average is $19.60. The company has a quick ratio of 0.86, a current ratio of 1.66 and a debt-to-equity ratio of 2.15. The firm has a market capitalization of $1.84 billion, a price-to-earnings ratio of 305.70 and a beta of 1.26.
CVR Energy (NYSE:CVI - Get Free Report) last released its quarterly earnings data 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). CVR Energy had a negative return on equity of 5.12% and a net margin of 0.09%. The business had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.85 billion. Sell-side analysts forecast that CVR Energy, Inc. will post -0.12 EPS for the current fiscal year.
Wall Street Analyst Weigh In
A number of brokerages have recently issued reports on CVI. Scotiabank dropped their price objective on CVR Energy from $22.00 to $16.00 and set a "sector underperform" rating on the stock in a research note on Friday, April 11th. The Goldman Sachs Group cut their price target on CVR Energy from $19.00 to $16.00 and set a "sell" rating on the stock in a report on Thursday, March 27th. Mizuho lifted their price objective on shares of 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 upgraded 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 issued a hold rating to the stock. According to MarketBeat.com, CVR Energy has a consensus rating of "Reduce" and an average price target of $21.20.
Check Out Our Latest Stock Report on CVI
Institutional Investors Weigh In On CVR Energy
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Barclays PLC increased its holdings in CVR Energy by 214.3% during the 3rd quarter. Barclays PLC now owns 78,030 shares of the oil and gas company's stock worth $1,797,000 after purchasing an additional 53,203 shares in the last quarter. State Street Corp boosted 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 last quarter. Charles Schwab Investment Management Inc. grew its holdings in CVR Energy by 22.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 783,079 shares of the oil and gas company's stock worth $14,675,000 after buying an additional 143,941 shares in the last quarter. D.A. Davidson & CO. purchased a new stake in CVR Energy in the 4th quarter valued at $736,000. Finally, Groesbeck Investment Management Corp NJ bought a new position in CVR Energy during the 4th quarter valued at $637,000. Institutional investors and hedge funds own 98.88% of the company's stock.
CVR Energy Company Profile
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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.
Further Reading
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