CVR Energy Shares Gain as Carl Icahn Plans to Boost Stake [Yahoo! Finance]
CVR Energy Inc. (CVI)
US:NYSE Investor Relations:
investors.cvrenergy.com
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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
- Returns On Capital At CVR Energy (NYSE:CVI) Paint A Concerning Picture [Yahoo! Finance]Yahoo! Finance
- CVR Energy, Inc. (NYSE: CVI) had its price target raised by analysts at Mizuho from $18.00 to $20.00. They now have a "neutral" rating on the stock.MarketBeat
- CVR Energy, Inc. (NYSE: CVI) was downgraded by analysts at StockNews.com from a "hold" rating to a "sell" rating.MarketBeat
- CVR Energy Announces Pricing of Proposed Senior Secured Term Loan B Facility, 2025 Capital Expenditure Outlook, New Employment Agreement with Dave LampGlobeNewswire
- CVR Energy, Inc. (NYSE: CVI) was upgraded by analysts at StockNews.com from a "sell" rating to a "hold" rating.MarketBeat
CVI
Earnings
- 10/28/24 - Miss
CVI
Sec Filings
- 12/18/24 - Form SC
- 12/13/24 - Form 4
- 12/13/24 - Form 4
- CVI's page on the SEC website