CVR Energy (NYSE:CVI) Major Shareholder Acquires $5,474,532.56 in 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 shares were bought at an average cost of $20.78 per share, for a total transaction of $5,474,532.56. Following the purchase, the insider owned 70,681,923 shares of the company’s stock, valued at approximately $1,468,770,359.94. The trade was a 0.37% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

CVR Energy Price Performance

CVR Energy stock traded up $0.63 during midday trading on Tuesday, reaching $21.70. 1,732,841 shares of the company were exchanged, compared to its average volume of 1,390,099. The firm’s 50-day simple moving average is $24.21 and its 200-day simple moving average is $30.28. CVR Energy Inc. has a 1 year low of $15.10 and a 1 year high of $41.67. The company has a market capitalization of $2.18 billion, a price-to-earnings ratio of 83.47 and a beta of 1.16. The company has a debt-to-equity ratio of 1.95, a quick ratio of 1.13 and a current ratio of 1.79.

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

CVR Energy Dividend Announcement

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

Institutional Investors Weigh In On CVR Energy

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bayforest Capital Ltd acquired a new position in shares of CVR Energy in the 3rd quarter valued at about $1,057,000. Allianz Asset Management GmbH raised its holdings in CVR Energy by 69.3% in the third quarter. Allianz Asset Management GmbH now owns 458,214 shares of the oil and gas company’s stock valued at $16,716,000 after buying an additional 187,620 shares during the period. Russell Investments Group Ltd. lifted its position in CVR Energy by 249.1% during the second quarter. Russell Investments Group Ltd. now owns 149,748 shares of the oil and gas company’s stock valued at $4,021,000 after buying an additional 106,854 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new position in CVR Energy during the second quarter valued at approximately $2,179,000. Finally, SG Americas Securities LLC purchased a new stake in CVR Energy during the third quarter worth approximately $1,021,000. 98.88% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Weiss Ratings downgraded CVR Energy from a “hold (c)” rating to a “sell (d)” rating in a research report on Friday. Wall Street Zen cut CVR Energy from a “hold” rating to a “sell” rating in a report on Saturday. 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.com, the company presently has a consensus rating of “Strong Sell” and a consensus target price 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.