CVR Energy Target of Unusually Large Options Trading (NYSE:CVI)

CVR Energy, Inc. (NYSE:CVI) was the target of unusually large options trading on Tuesday. Stock traders acquired 8,973 call options on the stock. This represents an increase of approximately 951% compared to the typical volume of 854 call options.

CVR Energy Trading Up 4.0 %

NYSE CVI opened at $19.45 on Wednesday. CVR Energy has a 12 month low of $15.10 and a 12 month high of $33.51. The company has a current ratio of 1.66, a quick ratio of 0.86 and a debt-to-equity ratio of 2.15. The stock’s fifty day moving average price is $18.78 and its 200-day moving average price is $19.25. The stock has a market cap of $1.96 billion, a P/E ratio of 324.22 and a beta of 1.26.

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

Insiders Place Their Bets

In other CVR Energy news, major shareholder Carl C. Icahn bought 244,200 shares of the firm’s stock in a transaction that occurred on Monday, April 7th. The stock was bought at an average price of $16.11 per share, for a total transaction of $3,934,062.00. Following the completion of the acquisition, the insider now directly owns 69,107,178 shares in the company, valued at $1,113,316,637.58. The trade was a 0.35 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last 90 days, insiders acquired 1,633,853 shares of company stock worth $28,497,570. 0.01% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On CVR Energy

A number of hedge funds have recently added to or reduced their stakes in CVI. Harbor Capital Advisors Inc. increased its holdings in shares of CVR Energy by 65.5% in the 1st quarter. Harbor Capital Advisors Inc. now owns 1,633 shares of the oil and gas company’s stock worth $32,000 after purchasing an additional 646 shares in the last quarter. R Squared Ltd purchased a new stake in shares of CVR Energy during the fourth quarter valued at $36,000. PNC Financial Services Group Inc. increased its holdings in CVR Energy by 55.3% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,052 shares of the oil and gas company’s stock worth $38,000 after buying an additional 731 shares in the last quarter. GAMMA Investing LLC raised its position in CVR Energy by 106.6% in the 1st quarter. GAMMA Investing LLC now owns 2,159 shares of the oil and gas company’s stock worth $42,000 after buying an additional 1,114 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new position in CVR Energy during the 3rd quarter valued at about $43,000. 98.88% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on CVI shares. Scotiabank cut their target price on shares of 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. Mizuho upped 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 upgraded CVR Energy from a “sell” rating to a “hold” rating in a research note on Wednesday, February 19th. Finally, The Goldman Sachs Group dropped their price target on CVR Energy from $19.00 to $16.00 and set a “sell” rating on the stock in a research report on Thursday, March 27th. Five analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Reduce” and a consensus price target of $21.20.

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.