Carl Icahn acquires $11.1 million of CVR Energy stock

Carl Icahn, a prominent investor and the leading shareholder of CVR Energy Inc . (NYSE:CVI), has recently increased his stake in the company with significant stock purchases. According to a recent SEC filing, Icahn acquired a total of 665,449 shares of CVR Energy over three days, from April 8 to April 10, 2025. The shares were purchased at prices ranging from $16.62 to $16.78 per share, amounting to a total investment of approximately $11.1 million. The timing is notable as CVR Energy's stock has declined over 50% in the past year, while maintaining an impressive 20.85% dividend yield. According to InvestingPro analysis, the stock appears slightly undervalued at current levels.

These acquisitions were made through a Rule 10b5-1 trading plan, which allows insiders to set up a predetermined schedule for buying or selling stocks. The transactions were conducted by Icahn and his affiliated entities, including Icahn Enterprises (NASDAQ:IEP) Holdings L.P. and Icahn Enterprises G.P. Inc. As a result of these purchases, Icahn's total ownership in CVR Energy now stands at 69,772,627 shares. The company maintains strong liquidity with a current ratio of 1.66, though analysts have recently revised earnings expectations downward.

Icahn's increased investment in CVR Energy, a company engaged in petroleum refining, underscores his continued interest in the energy sector. This move comes as the company navigates a complex market environment, with fluctuating oil prices and evolving regulatory challenges. Investors will be watching closely to see how Icahn's increased stake will influence the company's strategic direction and financial performance in the coming months. For deeper insights into CVR Energy's valuation and prospects, including 12 additional exclusive ProTips, check out the comprehensive research report available on InvestingPro.

In other recent news, CVR Energy reported its fourth-quarter earnings, which exceeded analysts' expectations. The company posted a narrower adjusted loss per share of $0.13, outperforming the anticipated $0.42 loss, while revenue reached $1.95 billion, slightly above the consensus of $1.93 billion. Despite a year-over-year decline in net income, CVR Energy managed a net income of $28 million for the quarter. In related developments, Mizuho (NYSE:MFG) Securities adjusted its price target for CVR Energy from $20.00 to $21.00, maintaining a Neutral stance while anticipating a first-quarter earnings shortfall due to operational disruptions at the Coffeyville facility. UBS also kept a Neutral rating with a $21.00 target, highlighting expected losses due to significant maintenance at the same refinery. Additionally, CVR Energy's board expanded with the appointment of Robert E. Flint and Colin Kwak, associated with Icahn Enterprises, which controls a significant portion of the company's stock. These appointments follow the resignation of Ted Papapostolou and reflect strategic alignment with the majority shareholder. The company has also enhanced its liquidity and declared a cumulative cash dividend of $1.00 per share for 2024.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.