CVR Refining LP (CVRR) Buys Back 6.5 Mln Shares from Carl Icahn

Billionaire Carl Icahn has reported in a filing with the Securities and Exchange Commission, the sale of a total of 6.5 million shares of CVR Refining LP (NYSE:CVRR). Following the sale of securities that have been disposed at a price of $25.25 apiece, Mr. Icahn still owns over 70% of the company’s outstanding stock, equal to 104.29 million shares.

Carl Icahn as viking

CVR Refining LP (NYSE:CVRR) has recently conducted a public offering in which it sold the same amount of shares, 6.5 million, at a price of $26.07 apiece. According to a filing with the SEC, the company plans to use the proceeds from the offering to acquire from Icahn’s affiliate CVR Refining Holdings. At the same time, under the terms of the offering, the company offered for sale additional 975,000 shares, out of which the first 589,100 units will be sold directly by the company, and the rest will be offered by CVR Refining Holdings, if the over-allotment options exceed the initial amount offered.

CVR Refining LP (NYSE:CVRR) is an energy company engaged in holding refining and related logistics assets operating in the mid-continent region. Its stock has gained almost 12% since the beginning of the year, and it trails a P/E of around 6.30, which is slightly above the third part of the industry average. The company pays a dividend of around $0.98 per quarter, which brings a divided yield of around 15%. For the current quarter, CVR Refining is expected to report EPS of approximately $1.05.

Even though, Mr. Icahn owns a significant amount of CVR Refining LP (NYSE:CVRR), some other hedge funds from our database have also reported holding the company’s shares in the last round of 13F filings. Anand Parekh‘s Alyeska Investment Group has raised its stake by 35% on the quarter to 191,700 shares owned as of the end of March. Jim Simons‘ Renaissance Technologies, on the other hand, has halved its position in the company reporting 115,000 shares in its latest 13F.

Disclosure: none

blog comments powered by Disqus
Insider Monkey Headlines
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months Click to see monthly returns in table format!

Lists

50 Crazy Facts About Japan You Won’t Believe

Top 10 Least Expensive Hybrid Cars to Save the Planet With

The 10 Biggest ‘Gate’ Controversies in History

The 10 States with the Highest Nursing Shortages Leaving Their Hospitals Depleted

The 10 Best Value Investment Blogs that Every Investor Must Read

The 6 Cheapest Boarding Schools in Europe 2015

The 5 Most Expensive Cars To Insure in the World

The 10 Most Common Genetically Modified Foods

10 Self-Made Billionaires Who Came From Nothing

The 10 Most Expensive Cities to Live in North America

The 13 Most Expensive Headphones in the World to Represent

The Top 20 Wealthiest Soccer Teams in 2014

4 BuzzWorthy Cannabis Stocks And Some Smoking Derivative Plays

The 10 Healthiest Fast Food Chains in America to Dine At

The 5 Most Expensive Cat Food Brands You Can Spoil Your Kitty With

The 6 Best eCommerce Platforms for Small Businesses

The 10 Worst Mistakes an Entrepreneur Can Make

The 5 Most OP Characters in League of Legends to Carry Games and Crush Foes With

The 5 Best Foods to Eat Before Running that Will Help You Pound the Pavement

10 Glaring Plot Holes in The Walking Dead that a Zombie-Filled Bus Could Drive Through

The 5 Biggest Celebrity Stoners Who Love Their Reefer

The 10 Most Overrated Movies Of All Time by Out-of-Touch Critics

Top 6 Least Expensive Cruise Destinations For 2015 that Will Take You to Paradise

10 States with Lowest Substance Abuse Rates in America

The 14 Most Watched TV Finales Ever

The 10 Best Selling Role Playing Games of All Time for PC

10 Most Influential Papers In Economics

Top 8 Biggest Charities in the US

10 Worst Celebrity Career Moves Ever

Top 10 Best Paid Tennis Stars in the World

10 Cities with High Demand for Nurses

6 of the Worst Greeting Card Messages Ever Crafted

How to Make Money in ArcheAge and Build Your Empire

10 Foods To Eat To Lower Cholesterol Levels

The 10 Most Hated Television Characters of All Time

The 30 Worst Halloween Costume Ideas Ever Brought to Horrible Life

10 Vocational Skills in Demand Today with Jobs Waiting to be Filled

10 Best Places to Visit in Central and South America

The 10 Greatest Empires in History Which Nearly Conquered the World

The 6 Cheapest Boarding Schools In America 2015

5 Clear Reasons LoL is Better than DotA, Continues to Rule MOBAs

The Only 9 Teams with a Chance to Win the Super Bowl

The 15 Most Common Phobias in America that Induce Fits of Panic

Top 6 Least Expensive Tourist Destinations in 2014

Jim Goetz, Peter Fenton, Jim Breyer: Top 6 Venture Investors for 2014

Top 15 Billionaires in 2014

5 Pitfalls To Avoid When Buying a Franchise

Top 20 Medical Schools in the US – 2014 Rankings

4 Business Strategies that Turned Jamie Oliver into the World’s Richest Chef

6 Qualities That Make You A Good Team Player

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!