In this article, we discuss the 3 best oil and gas stocks to buy according to billionaire Carl Icahn. If you want our detailed analysis of the oil and gas sector, go directly to the 6 Best Oil and Gas Stocks to Buy According to Billionaire Carl Icahn.
3. CVR Energy, Inc. (NYSE:CVI)
Carl Ichan’s Stake Value: $1,186,171,000
Percentage of Carl Ichan’s 13F Portfolio: 5.26%
Number of Hedge Fund Holders: 16
CVR Energy, Inc. (NYSE:CVI), one of the best oil and gas stocks from Icahn’s Q3 portfolio, is a petroleum refining company from Sugarland, Texas, that is involved in the exploration, marketing, and distribution of petroleum. The company, via its subsidiaries, also operates a nitrogen fertilizer business. Carl Icahn owns 71.1 million shares in CVR Energy, Inc. (NYSE:CVI) as of the third quarter of 2021, worth $1.18 billion, accounting for 5.26% of his Q3 portfolio.
Israel Englander’s Millennium Management is one of the leading CVR Energy, Inc. (NYSE:CVI) stakeholders from Q3 2021, holding 1.12 million shares in the company worth $18.68 million. Overall, 16 hedge funds in the database of Insider Monkey were bullish on CVR Energy, Inc. (NYSE:CVI), with total stakes valued at $1.24 billion. This is compared to the same number of funds in the preceding quarter, with a total stake value of $1.34 billion.
CVR Energy, Inc. (NYSE:CVI), on November 1, posted its Q3 earnings. EPS in the period amounted to -$0.24, missing estimates by -$0.22. Revenue for the quarter totaled $1.88 billion, up 87.36% from the preceding-year quarter, exceeding revenue estimates by $150.85 million.
Credit Suisse analyst Manav Gupta on October 27 downgraded CVR Energy, Inc. (NYSE:CVI) to Underperform from Neutral with a price target of $20, up from $19. The analyst cited macro headwinds and limited upside potential associated with the stock as the primary reasons for the downgrade.