How are energy investors positioned?
SUNNY ISLES BEACH, FL—In recent transactions reported to the Securities and Exchange Commission, Carl C. Icahn, a prominent investor and ten percent owner, has increased his holdings in CVR Energy Inc . (NYSE:CVI), a company currently offering a substantial 19.07% dividend yield with a 12-year history of consistent dividend payments. According to InvestingPro analysis, the stock appears to be trading below its Fair Value. According to the filing, Icahn acquired a total of 203,219 shares over three days, from March 5 to March 7, 2025, with a total purchase value of approximately $3.65 million.
The purchases were made at prices ranging from $17.84 to $18.21 per share. Following these acquisitions, Icahn now holds a total of 68,151,072 shares of CVR Energy. The transactions were executed indirectly through entities affiliated with Icahn, as noted in the filing’s footnotes.
In other recent news, CVR Energy Inc. reported better-than-expected earnings for the fourth quarter of 2024, with an adjusted loss per share of ($0.13), surpassing analysts’ expectations of ($0.42). Revenue for the quarter reached $1.95 billion, slightly above the $1.93 billion consensus, although it fell short of the $1.76 billion reported in another source. The company recorded a consolidated net income of $40 million for the quarter, supported by strong performance in its petroleum and fertilizer segments. Scotiabank (TSX:BNS) analyst Paul Y. Cheng noted the company’s strong refining operations and income tax benefit, though he expressed concerns about a weaker-than-expected first-quarter outlook for refining in 2025. CVR Energy also enhanced its liquidity by $408 million through a Term Loan and the sale of a 50% stake in Midway Pipeline. The company declared a cumulative cash dividend of $1.00 per share for 2024. The renewables segment showed improvement, with a reduced net loss and positive adjusted EBITDA, driven by lower vegetable oil feed prices and improved catalyst performance. Looking ahead, CVR Energy plans a turnaround at its Coffeyville refinery, aiming for improvements in crack spreads and capacity rationalization.
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