Insider Buying: CVR Energy, Inc. (NYSE:CVI) Major Shareholder Buys 41,130 Shares of Stock

CVR Energy, Inc. (NYSE:CVI) major shareholder Carl C. Icahn acquired 41,130 shares of the firm’s stock in a transaction on Friday, April 25th. The stock was purchased at an average cost of $18.16 per share, for a total transaction of $746,920.80. Following the completion of the acquisition, the insider now owns 70,410,564 shares in the company, valued at approximately $1,278,655,842.24. This represents a 0.06 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

CVR Energy Stock Down 3.1 %

CVR Energy stock opened at $18.88 on Thursday. 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 12-month low of $15.10 and a 12-month high of $30.95. The firm’s fifty day moving average is $18.75 and its 200 day moving average is $19.25. The company has a market capitalization of $1.90 billion, a PE ratio of 314.72 and a beta of 1.26.

CVR Energy (NYSE:CVI) last released its quarterly earnings data on Monday, April 28th. The oil and gas company reported ($0.58) earnings per share for the quarter, topping the consensus estimate of ($0.90) by $0.32. CVR Energy had a net margin of 0.09% and a negative return on equity of 5.12%. The firm had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.61 billion. During the same quarter in the prior year, the company posted $0.04 earnings per share. The business’s revenue was down 11.6% on a year-over-year basis. As a group, sell-side analysts predict that CVR Energy, Inc. will post -0.12 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently issued reports on CVI shares. Mizuho increased their target price on CVR Energy from $20.00 to $21.00 and gave the stock a “neutral” rating in a report on Tuesday, April 1st. StockNews.com lowered CVR Energy from a “hold” rating to a “sell” rating in a report on Wednesday. Scotiabank reduced their target price on CVR Energy from $22.00 to $16.00 and set a “sector underperform” rating on the stock in a report on Friday, April 11th. Finally, The Goldman Sachs Group reduced their target price on CVR Energy from $19.00 to $16.00 and set a “sell” rating on the stock in a report on Thursday, March 27th. Six investment analysts have rated the stock with a sell rating and two have given a hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Reduce” and an average target price of $21.20.

Institutional Trading of CVR Energy

Several institutional investors and hedge funds have recently made changes to their positions in the company. Harbor Capital Advisors Inc. grew its position in CVR Energy by 65.5% during the first quarter. Harbor Capital Advisors Inc. now owns 1,633 shares of the oil and gas company’s stock valued at $32,000 after buying an additional 646 shares during the period. R Squared Ltd bought a new position in CVR Energy during the fourth quarter valued at about $36,000. PNC Financial Services Group Inc. grew its position in CVR Energy by 55.3% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,052 shares of the oil and gas company’s stock valued at $38,000 after buying an additional 731 shares during the period. GAMMA Investing LLC grew its position in CVR Energy by 106.6% during the first quarter. GAMMA Investing LLC now owns 2,159 shares of the oil and gas company’s stock valued at $42,000 after buying an additional 1,114 shares during the period. Finally, Wilmington Savings Fund Society FSB bought a new position in CVR Energy during the third quarter valued at about $43,000. Hedge funds and other institutional investors own 98.88% of the company’s stock.

About CVR Energy

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.