CVR Energy Shares Gain as Carl Icahn Plans to Boost Stake [Yahoo! Finance]
CVR Energy Inc. (CVI)
US:NYSE Investor Relations:
investors.cvrenergy.com
Company Research
Source: Yahoo! Finance
Icahn, proposed to increase its stake in CVR Energy from its current 66% to around 81% on Nov. 8, 2024. In 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. This 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. Recently, 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 consi
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CVI
News
- Carl Icahn Bets Big On CVR While Slashing IEP Dividend In Half [Yahoo! Finance]Yahoo! Finance
- Icahn Enterprises Hits Rough Patch With Q3 Earnings Miss, Dividend Cut; Eyes Larger Stake In CVR Energy [Yahoo! Finance]Yahoo! Finance
- Thermon Group Sees Revenue Decline but New Orders Rise [Yahoo! Finance]Yahoo! Finance
- Halliburton Q3 2024 Financial Results Amid Challenges [Yahoo! Finance]Yahoo! Finance
- Signing Day Sports Extends Acquisition Timeline for Swifty [Yahoo! Finance]Yahoo! Finance
CVI
Earnings
- 10/28/24 - Miss
CVI
Sec Filings
- 11/8/24 - Form 8-K
- 11/8/24 - Form SC
- 11/8/24 - Form SC
- CVI's page on the SEC website