Carl Icahn Purchases 244,940 Shares of CVR Energy (NYSE:CVI) Stock

CVR Energy Inc. (NYSE:CVI) major shareholder Carl Icahn bought 244,940 shares of the stock in a transaction on Monday, February 23rd. The stock was purchased at an average price of $20.75 per share, with a total value of $5,082,505.00. Following the completion of the acquisition, the insider directly owned 70,926,863 shares in the company, valued at approximately $1,471,732,407.25. This trade represents a 0.35% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

CVR Energy Stock Performance

Shares of CVR Energy stock opened at $23.08 on Thursday. The company has a current ratio of 1.79, a quick ratio of 1.13 and a debt-to-equity ratio of 1.95. The stock’s fifty day moving average price is $23.92 and its 200-day moving average price is $30.20. 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 Inc. has a 12 month low of $15.10 and a 12 month high of $41.67.

CVR Energy (NYSE:CVI) last released its quarterly earnings data on Wednesday, February 18th. The oil and gas company reported ($0.80) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.84) by $0.04. The company had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.70 billion. CVR Energy had a net margin of 0.38% and a negative return on equity of 14.31%. The firm’s revenue for the quarter was down 7.0% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.13) earnings per share. On average, equities research analysts expect that CVR Energy Inc. will post -0.12 earnings per share for the current fiscal year.

CVR Energy Announces Dividend

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

Analyst Upgrades and Downgrades

CVI has been the topic of a number of analyst reports. Weiss Ratings downgraded CVR Energy from a “hold (c)” rating to a “sell (d)” rating in a report on Friday, February 20th. Wall Street Zen downgraded CVR Energy from a “hold” rating to a “sell” rating in a research 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. According to data from MarketBeat, the stock currently has a consensus rating of “Strong Sell” and an average target price of $29.25.

Institutional Investors Weigh In On CVR Energy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CVI. BNP Paribas Financial Markets grew its stake in shares of CVR Energy by 21,261.8% during the third quarter. BNP Paribas Financial Markets now owns 776,073 shares of the oil and gas company’s stock worth $28,311,000 after acquiring an additional 772,440 shares during the last quarter. Tudor Investment Corp ET AL acquired a new stake in CVR Energy in the 3rd quarter worth approximately $22,217,000. Squarepoint Ops LLC purchased a new stake in CVR Energy during the 4th quarter worth approximately $9,616,000. Bank of America Corp DE grew its position in CVR Energy by 101.2% during the 3rd quarter. Bank of America Corp DE now owns 706,504 shares of the oil and gas company’s stock worth $25,773,000 after purchasing an additional 355,412 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its stake in CVR Energy by 33.9% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,364,250 shares of the oil and gas company’s stock valued at $49,768,000 after purchasing an additional 345,758 shares in the last quarter. 98.88% of the stock is currently owned by hedge funds and other institutional investors.

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.