CVR Energy (NYSE:CVI) Major Shareholder Carl Icahn Buys 244,940 Shares of Stock

CVR Energy Inc. (NYSE:CVI) major shareholder Carl Icahn bought 244,940 shares of CVR Energy stock in a transaction dated 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 purchase, the insider owned 70,926,863 shares in the company, valued at approximately $1,471,732,407.25. This represents a 0.35% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

CVR Energy Stock Up 3.0%

CVI opened at $21.70 on Wednesday. CVR Energy Inc. has a fifty-two week low of $15.10 and a fifty-two week high of $41.67. The firm has a market capitalization of $2.18 billion, a P/E ratio of 83.47 and a beta of 1.16. The company’s 50-day moving average is $24.05 and its 200 day moving average is $30.25. The company has a debt-to-equity ratio of 1.95, a current ratio of 1.79 and a quick ratio of 1.13.

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 net margin of 0.38% and a negative return on equity of 14.31%. The firm had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.70 billion. During the same quarter last year, the business posted ($0.13) EPS. The company’s revenue for the quarter was down 7.0% on a year-over-year basis. 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. Shareholders of record on Monday, March 2nd will be given 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 6.8%. CVR Energy’s payout ratio is currently 569.23%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on CVI shares. Wall Street Zen cut CVR Energy from a “hold” rating to a “sell” rating in a research note on Saturday. Weiss Ratings lowered shares of CVR Energy from a “hold (c)” rating to a “sell (d)” rating in a research report on Friday. One analyst has rated the stock with a Hold rating and five have given a Sell rating to the stock. Based on data from MarketBeat.com, CVR Energy currently has a consensus rating of “Strong Sell” and a consensus price target of $29.25.

Institutional Trading of CVR Energy

A number of institutional investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in CVR Energy by 3.0% in the 4th quarter. Vanguard Group Inc. now owns 3,705,809 shares of the oil and gas company’s stock worth $94,276,000 after buying an additional 106,906 shares during the period. State Street Corp lifted its position in shares of CVR Energy by 2.6% during the fourth quarter. State Street Corp now owns 1,779,701 shares of the oil and gas company’s stock worth $45,276,000 after acquiring an additional 45,603 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its holdings in shares of CVR Energy by 33.9% in the third quarter. Jacobs Levy Equity Management Inc. now owns 1,364,250 shares of the oil and gas company’s stock worth $49,768,000 after acquiring an additional 345,758 shares during the period. Renaissance Technologies LLC grew its position in shares of CVR Energy by 31.6% in the fourth quarter. Renaissance Technologies LLC now owns 1,167,184 shares of the oil and gas company’s stock valued at $29,693,000 after purchasing an additional 280,300 shares in the last quarter. Finally, UBS Group AG raised its stake in shares of CVR Energy by 32.2% during the 4th quarter. UBS Group AG now owns 850,042 shares of the oil and gas company’s stock valued at $21,625,000 after purchasing an additional 206,861 shares during the period. 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.