CVR Energy (NYSE:CVI) Trading 4.2% Higher After Insider Buying Activity

CVR Energy, Inc. (NYSE:CVI)’s share price traded up 4.2% during trading on Monday following insider buying activity. The stock traded as high as $19.76 and last traded at $19.74. 106,639 shares were traded during trading, a decline of 87% from the average session volume of 834,590 shares. The stock had previously closed at $18.95.

Specifically, major shareholder Carl C. Icahn purchased 878,212 shares of the company’s stock in a transaction on Wednesday, January 8th. The shares were purchased at an average cost of $18.25 per share, with a total value of $16,027,369.00. Following the completion of the purchase, the insider now owns 67,570,593 shares in the company, valued at $1,233,163,322.25. This represents a 1.32 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Analysts Set New Price Targets

CVI has been the topic of a number of research reports. The Goldman Sachs Group lowered their target price on CVR Energy from $24.00 to $21.00 and set a “sell” rating on the stock in a research report on Friday, December 6th. StockNews.com downgraded CVR Energy from a “hold” rating to a “sell” rating in a research note on Saturday, December 14th. JPMorgan Chase & Co. reduced their price objective on CVR Energy from $26.00 to $23.00 and set an “underweight” rating for the company in a research note on Wednesday, October 2nd. Mizuho upped their price objective on CVR Energy from $18.00 to $20.00 and gave the company a “neutral” rating in a research note on Monday, December 16th. Finally, Scotiabank cut their price target on CVR Energy from $25.00 to $21.00 and set a “sector underperform” rating for the company in a research note on Thursday, October 10th. Six research analysts have rated the stock with a sell rating and two have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce” and an average price target of $23.00.

CVR Energy Trading Up 4.7 %

The firm has a 50 day simple moving average of $18.57 and a 200 day simple moving average of $22.31. The firm has a market cap of $2.00 billion, a P/E ratio of 28.77 and a beta of 1.58. The company has a debt-to-equity ratio of 1.84, a quick ratio of 0.86 and a current ratio of 1.33.

CVR Energy (NYSE:CVI) last released its quarterly earnings results on Monday, October 28th. The oil and gas company reported ($0.50) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.41). The business had revenue of $1.83 billion during the quarter, compared to analysts’ expectations of $1.91 billion. CVR Energy had a net margin of 0.89% and a return on equity of 2.88%. The business’s revenue was down 27.3% on a year-over-year basis. During the same period in the previous year, the business earned $1.89 EPS. On average, equities research analysts predict that CVR Energy, Inc. will post -0.12 EPS for the current fiscal year.

Hedge Funds Weigh In On CVR Energy

A number of large investors have recently modified their holdings of CVI. State Street Corp grew its position in CVR Energy by 18.1% during the 3rd quarter. State Street Corp now owns 2,075,058 shares of the oil and gas company’s stock worth $47,789,000 after acquiring an additional 317,475 shares during the last quarter. Dimensional Fund Advisors LP grew its position in CVR Energy by 2.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,072,334 shares of the oil and gas company’s stock worth $55,476,000 after acquiring an additional 44,636 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in CVR Energy by 14.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 639,138 shares of the oil and gas company’s stock worth $14,719,000 after acquiring an additional 81,590 shares during the last quarter. American Century Companies Inc. grew its position in shares of CVR Energy by 60.3% in the 2nd quarter. American Century Companies Inc. now owns 407,819 shares of the oil and gas company’s stock worth $10,917,000 after buying an additional 153,396 shares during the last quarter. Finally, Advisors Asset Management Inc. boosted its position in shares of CVR Energy by 37.2% during the third quarter. Advisors Asset Management Inc. now owns 352,075 shares of the oil and gas company’s stock valued at $8,108,000 after purchasing an additional 95,371 shares in the last quarter. 98.88% of the stock is owned by hedge funds and other institutional investors.

CVR Energy Company Profile

CVR Energy, Inc, together with its subsidiaries, engages in the petroleum refining and marketing, and nitrogen fertilizer manufacturing activities in the United States. It operates in two segments, Petroleum and Nitrogen Fertilizer. The Petroleum segment refines and supplies gasoline, crude oil, distillate, diesel fuel, and other refined products.