CVR Energy (NYSE:CVI) Major Shareholder Acquires $5,082,505.00 in Stock

CVR Energy Inc. (NYSE:CVI) major shareholder Carl Icahn purchased 244,940 shares of the stock in a transaction dated Monday, February 23rd. The shares were acquired at an average cost of $20.75 per share, with a total value of $5,082,505.00. Following the acquisition, the insider directly owned 70,926,863 shares in the company, valued at $1,471,732,407.25. This represents a 0.35% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

CVR Energy Price Performance

NYSE:CVI traded up $0.63 during trading hours on Tuesday, hitting $21.70. The company’s stock had a trading volume of 1,732,841 shares, compared to its average volume of 1,390,099. CVR Energy Inc. has a twelve month low of $15.10 and a twelve month high of $41.67. The company has a debt-to-equity ratio of 1.95, a current ratio of 1.79 and a quick ratio of 1.13. The stock has a fifty day simple moving average of $24.21 and a 200-day simple moving average of $30.28. The company has a market capitalization of $2.18 billion, a P/E ratio of 83.47 and a beta of 1.16.

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

CVR Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 9th. Shareholders of record on Monday, March 2nd will be given a $0.37 dividend. The ex-dividend date is Monday, March 2nd. This represents a $1.48 dividend on an annualized basis and a yield of 6.8%.

Institutional Trading of CVR Energy

Several institutional investors have recently modified their holdings of the business. Illinois Municipal Retirement Fund grew its position in shares of CVR Energy by 2.2% during the 3rd quarter. Illinois Municipal Retirement Fund now owns 17,081 shares of the oil and gas company’s stock worth $623,000 after buying an additional 363 shares during the period. Victory Capital Management Inc. boosted its stake in CVR Energy by 2.9% during the third quarter. Victory Capital Management Inc. now owns 21,329 shares of the oil and gas company’s stock worth $778,000 after acquiring an additional 596 shares in the last quarter. Congress Asset Management Co. boosted its stake in CVR Energy by 0.7% during the third quarter. Congress Asset Management Co. now owns 85,083 shares of the oil and gas company’s stock worth $3,104,000 after acquiring an additional 604 shares in the last quarter. Alliancebernstein L.P. grew its holdings in CVR Energy by 1.5% in the third quarter. Alliancebernstein L.P. now owns 48,943 shares of the oil and gas company’s stock worth $1,785,000 after purchasing an additional 700 shares during the period. Finally, NewEdge Advisors LLC increased its stake in CVR Energy by 5.6% in the fourth quarter. NewEdge Advisors LLC now owns 13,394 shares of the oil and gas company’s stock valued at $341,000 after purchasing an additional 709 shares in the last quarter. Institutional investors own 98.88% of the company’s stock.

Analyst Ratings Changes

CVI has been the subject of a number of research reports. Wall Street Zen cut CVR Energy from a “hold” rating to a “sell” rating in a research note on Saturday. Weiss Ratings cut CVR Energy from a “hold (c)” rating to a “sell (d)” rating in a report on Friday. One equities research analyst has rated the stock with a Hold rating and five have issued a Sell rating to the company. Based on data from MarketBeat.com, CVR Energy has a consensus rating of “Strong Sell” and an average 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.