Carl Icahn Purchases 275,012 Shares of CVR Energy (NYSE:CVI) Stock

CVR Energy Inc. (NYSE:CVI) major shareholder Carl Icahn bought 275,012 shares of the company’s stock in a transaction on Tuesday, February 24th. The stock was bought at an average price of $21.41 per share, for a total transaction of $5,888,006.92. Following the completion of the purchase, the insider owned 71,201,875 shares of the company’s stock, valued at approximately $1,524,432,143.75. The trade was a 0.39% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

CVR Energy Trading Up 6.3%

Shares of CVI stock opened at $23.08 on Thursday. The company has a 50 day moving average of $23.92 and a 200-day moving average of $30.20. The company has a quick ratio of 1.13, a current ratio of 1.79 and a debt-to-equity ratio of 1.95. CVR Energy Inc. has a 12-month low of $15.10 and a 12-month high of $41.67. The firm has a market cap of $2.32 billion, a P/E ratio of 88.79 and a beta of 1.16.

CVR Energy (NYSE:CVI) last posted its quarterly earnings data on Wednesday, February 18th. The oil and gas company reported ($0.80) EPS for the quarter, beating the consensus estimate 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 business had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.70 billion. During the same quarter in the prior year, the business earned ($0.13) earnings per share. CVR Energy’s revenue for the quarter was down 7.0% on a year-over-year basis. Sell-side analysts anticipate that CVR Energy Inc. will post -0.12 earnings per share for the current year.

CVR Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 9th. Investors of record on Monday, March 2nd will be issued a $0.37 dividend. The ex-dividend date of this dividend is Monday, March 2nd. This represents a $1.48 annualized dividend and a yield of 6.4%.

Institutional Trading of CVR Energy

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Quarry LP purchased a new stake in CVR Energy in the 3rd quarter worth approximately $50,000. Aster Capital Management DIFC Ltd purchased a new stake in shares of CVR Energy in the fourth quarter worth $40,000. Exchange Traded Concepts LLC bought a new stake in CVR Energy during the fourth quarter valued at $47,000. Horizon Investments LLC purchased a new position in CVR Energy during the fourth quarter worth about $47,000. Finally, Raymond James Financial Inc. bought a new position in CVR Energy in the 2nd quarter worth about $53,000. Institutional investors own 98.88% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on CVI shares. Weiss Ratings downgraded 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 shares of CVR Energy from a “hold” rating to a “sell” rating in a research note on Saturday, February 21st. One investment analyst has rated the stock with a Hold rating and five have given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Strong Sell” and a consensus price target of $29.25.

About CVR Energy

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.