Stock Traders Buy High Volume of Call Options on CVR Energy (NYSE:CVI)

CVR Energy Inc. (NYSE:CVI) was the target of some unusual options trading on Monday. Investors bought 2,513 call options on the stock. This represents an increase of 67% compared to the average volume of 1,506 call options.

Insider Transactions at CVR Energy

In other CVR Energy news, major shareholder Carl C. Icahn purchased 275,012 shares of the firm’s stock in a transaction that occurred on Tuesday, February 24th. The shares were bought at an average price of $21.41 per share, with a total value of $5,888,006.92. Following the completion of the purchase, the insider directly owned 71,201,875 shares in the company, valued at $1,524,432,143.75. This trade represents a 0.39% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders have acquired a total of 783,404 shares of company stock worth $16,445,044 over the last quarter. 0.01% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On CVR Energy

Hedge funds and other institutional investors have recently modified their holdings of the business. Tudor Investment Corp ET AL purchased a new stake in shares of CVR Energy in the third quarter worth approximately $22,217,000. Neo Ivy Capital Management increased its position in shares of CVR Energy by 165.4% during the third quarter. Neo Ivy Capital Management now owns 65,340 shares of the oil and gas company’s stock worth $2,384,000 after acquiring an additional 40,721 shares during the period. JPMorgan Chase & Co. increased its position in shares of CVR Energy by 38.8% during the third quarter. JPMorgan Chase & Co. now owns 380,127 shares of the oil and gas company’s stock worth $13,867,000 after acquiring an additional 106,350 shares during the period. Allianz Asset Management GmbH increased its position in shares of CVR Energy by 69.3% during the third quarter. Allianz Asset Management GmbH now owns 458,214 shares of the oil and gas company’s stock worth $16,716,000 after acquiring an additional 187,620 shares during the period. Finally, Citigroup Inc. increased its position in shares of CVR Energy by 95.6% during the third quarter. Citigroup Inc. now owns 391,985 shares of the oil and gas company’s stock worth $14,300,000 after acquiring an additional 191,584 shares during the period. 98.88% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CVI has been the topic of several recent research reports. Scotiabank upgraded shares of CVR Energy to a “strong sell” rating in a research report on Friday, March 27th. Wall Street Zen cut shares of CVR Energy from a “hold” rating to a “sell” rating in a research report on Saturday, April 4th. Weiss Ratings cut shares of CVR Energy from a “hold (c)” rating to a “sell (d)” rating in a research report on Friday, February 20th. Raymond James Financial upgraded shares of CVR Energy from an “underperform” rating to a “market perform” rating in a research report on Wednesday, March 25th. Finally, Mizuho upped their target price on shares of CVR Energy from $28.00 to $32.00 and gave the company an “underperform” rating in a research report on Tuesday, March 17th. Two equities research analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Strong Sell” and a consensus target price of $31.25.

CVR Energy Trading Up 2.4%

NYSE:CVI traded up $0.71 during midday trading on Monday, hitting $30.15. 67,871 shares of the company traded hands, compared to its average volume of 1,408,074. The firm’s fifty day moving average is $28.25 and its 200-day moving average is $29.95. CVR Energy has a 12-month low of $17.56 and a 12-month high of $41.67. The firm has a market capitalization of $3.03 billion, a P/E ratio of 115.95 and a beta of 0.94. The company has a current ratio of 1.79, a quick ratio of 1.13 and a debt-to-equity ratio of 1.95.

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

CVR Energy Company Profile

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.