Carl Icahn Purchases 263,452 Shares of CVR Energy (NYSE:CVI) Stock

CVR Energy Inc. (NYSE:CVI) major shareholder Carl Icahn acquired 263,452 shares of the firm’s stock in a transaction that occurred on Friday, February 20th. The stock was purchased at an average price of $20.78 per share, with a total value of $5,474,532.56. Following the completion of the acquisition, the insider owned 70,681,923 shares in the company, valued at $1,468,770,359.94. The trade was a 0.37% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

CVR Energy Stock Performance

Shares of CVI opened at $23.08 on Thursday. The company has a market cap of $2.32 billion, a price-to-earnings ratio of 88.79 and a beta of 1.16. The business’s fifty day simple moving average is $23.92 and its two-hundred day simple moving average is $30.20. CVR Energy Inc. has a 12 month low of $15.10 and a 12 month high of $41.67. The company has a current ratio of 1.79, a quick ratio of 1.13 and a debt-to-equity ratio of 1.95.

CVR Energy (NYSE:CVI) last announced its quarterly earnings results on Wednesday, February 18th. The oil and gas company reported ($0.80) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.84) by $0.04. CVR Energy had a negative return on equity of 14.31% and a net margin of 0.38%.The firm had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.70 billion. During the same period in the prior year, the company posted ($0.13) earnings per share. The company’s quarterly revenue was down 7.0% on a year-over-year basis. Research analysts anticipate that CVR Energy Inc. will post -0.12 earnings per share for the current fiscal year.

CVR Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 9th. Stockholders of record on Monday, March 2nd will be issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 6.4%. The ex-dividend date of this dividend is Monday, March 2nd.

Institutional Trading of CVR Energy

A number of hedge funds and other institutional investors have recently bought and sold shares of CVI. Allianz Asset Management GmbH increased its holdings in CVR Energy by 69.3% in the 3rd quarter. Allianz Asset Management GmbH now owns 458,214 shares of the oil and gas company’s stock worth $16,716,000 after acquiring an additional 187,620 shares in the last quarter. Bayforest Capital Ltd bought a new position in shares of CVR Energy in the third quarter worth approximately $1,057,000. Russell Investments Group Ltd. increased its stake in shares of CVR Energy by 249.1% in the second quarter. Russell Investments Group Ltd. now owns 149,748 shares of the oil and gas company’s stock worth $4,021,000 after purchasing an additional 106,854 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new stake in shares of CVR Energy during the 2nd quarter valued at $2,179,000. Finally, SG Americas Securities LLC bought a new stake in shares of CVR Energy during the 3rd quarter valued at $1,021,000. Hedge funds and other institutional investors own 98.88% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on CVI. Weiss Ratings cut shares of CVR Energy from a “hold (c)” rating to a “sell (d)” rating in a report on Friday, February 20th. Wall Street Zen cut CVR Energy from a “hold” rating to a “sell” rating in a report on Saturday, February 21st. One research analyst has rated the stock with a Hold rating and five have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Strong Sell” and an average price target of $29.25.

CVR Energy Company Profile

CVR Energy, Inc is an independent downstream energy company engaged primarily in petroleum refining and nitrogen fertilizer production in the United States. Headquartered in Sugar Land, Texas, CVR Energy operates through two reportable segments—Petroleum Products and Nitrogen Fertilizers—leveraging its refining expertise and distribution network to serve both wholesale and retail markets across key regions in the U.S.

In its Petroleum Products segment, the company owns and operates the Coffeyville, Kansas refinery, which has the capability to process various grades of crude oil into gasoline, diesel, jet fuel and other refined products.