CVR Energy Shares Gain as Carl Icahn Plans to Boost Stake

Zacks11-12 20:26

Shares of CVR Energy, Inc. CVI experienced a gain of almost 4% since Icahn Enterprises (IEP), an investment firm controlled by billionaire investor Icahn, proposed to increase its stake in CVR Energy ...

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The IEP plans to complete this procedure by purchasing up to 15 million additional shares for $17.50 per share, a 5.9% premium toThursday’s close.Hamilton-based Kosmos Energy Ltd. operates as an oil and gas exploration and production company focused on underexplored regions in Africa. KOS’ expected EPS  growth rate for the next 5 year","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"IEP":"伊坎企业","BK4109":"特种化学制品","BK4138":"石油与天然气的炼制和营销","BK4590":"PTP","AROC":"Archrock, Inc","BK4206":"工业集团企业","BK4161":"工业机械","BK4179":"石油天然气设备与服务","KOS":"Kosmos Energy","CVI":"CVR能源","BK4213":"石油与天然气的勘探与生产","FTK":"Flotek工业","CVR":"芝加哥机械"},"translate_title":"卡尔·伊坎计划增持CVR Energy股价上涨","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"CVI":1,"CVR":1,"FTK":1,"IEP":1,"KOS":1,"AROC":0.9},"content_text":"Shares of CVR Energy, Inc. CVI experienced a gain of almost 4% since Icahn Enterprises (IEP), an investment firm controlled by billionaire investor Icahn, proposed to increase its stake in CVR Energy from its current 66% to around 81% on Nov. 8, 2024.\nAn Insight Into the Recent CVI Announcement\nIn its third-quarter earnings statement, reported on Nov. 8, IEP announced a 50% reduction in its dividend payout — from $1 per unit in Q2 to 50 cents in Q3 — to use the freed funds to increase its holding in CVI. The IEP plans to complete this procedure by purchasing up to 15 million additional shares for $17.50 per share, a 5.9% premium to Thursday’s close.\nThis decision came as a move to capitalize on the undervalued stock. IEP believes that the CVI stock has untapped potential despite recent challenges and that the shareholders could benefit from the premium cash-out.\nCVI’s Struggles\nRecently, CVI experienced instability and a significant decline in its stock price due to the suspension of its dividend payout for the third quarter. The move to suspend the dividend led to shareholders losing their confidence in the company and was viewed as a major setback by market analysts, but IEP considered it an investment opportunity, where it could increase its control over the company and decide its future strategies.\nImage Source: Zacks Investment Research\nIEP’s Market Strategy Amid Legal Challenges\nRecently, a short seller’s report challenged IEP’s valuation and dividend sustainability. Icahn, the holder of most of IEP’s shares, later dismissed the report as misleading, rebuilding shareholders' confidence in IEP’s financial standing.\nLast year, Icahn Enterprises also faced some Securities and Exchange Commission charges over loan disclosure issues and, as a result, had to pay millions of dollars as a penalty. However, Icahn has continued to pursue bold investments in the market, including a major investment in Caesars Entertainment and a cooperation agreement with Southwest Gas.\nCVI’s Zacks Rank and Key Picks\nHeadquartered in Sugar Land, TX, CVR Energy is an independent refiner and marketer of high-value transportation fuels. Currently, CVI has a Zacks Rank #5 (Strong Sell).\nInvestors interested in the energy sector might look at some better-ranked stocks like Archrock, Inc. AROC, Kosmos Energy Ltd. KOS and Flotek Industries, Inc. FTK.While Archrock currently sports a Zacks Rank #1 (Strong Buy), Kosmos Energy and Flotek Industries each carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.\nArchrock is a provider of natural gas contract compression services and a supplier of aftermarket services of compression equipment. The Zacks Consensus Estimate for AROC’s 2024 earnings indicates 59.42% year-over-year growth.\nHamilton-based Kosmos Energy Ltd. operates as an oil and gas exploration and production company focused on underexplored regions in Africa. KOS’ expected EPS (earnings per share) growth rate for the next 5 years is 17.50%, which aligns favorably with the similar industry growth rate.\nFlotek Industries develops and delivers prescriptive chemistry-based technology, including specialty chemicals, to clients in the energy, consumer industrials and food & beverage industries. The Zacks Consensus Estimate for FTK’s 2024 earnings indicates 125% year-over-year growth.\nWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report\nCVR Energy Inc. (CVI) : Free Stock Analysis Report\nKosmos Energy Ltd. (KOS) : Free Stock Analysis Report\nFlotek Industries, Inc. (FTK) : Free Stock Analysis Report\nArchrock, Inc. (AROC) : Free Stock Analysis Report\nTo read this article on Zacks.com click here.\nZacks Investment Research","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"Shareholding Changes","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.1","shortVersion":"4.29.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2482700913"}