5 Best Stocks to Buy According to Billionaire Carl Icahn

2. CVR Energy, Inc. (NYSE:CVI)

Icahn Capital’s Stake Value: $1,818,415,000

Percentage of Icahn Capital’s 13F Portfolio: 8.31%

Number of Hedge Fund Holders: 17

CVR Energy, Inc. (NYSE:CVI) is the second-best stock to buy according to billionaire Carl Icahn. As of March 31, Icahn Capital owns more than 71 million shares of CVR Energy, Inc. (NYSE:CVI) which amounts to a stake of $1.81 billion. The investment represents 8.31% of Carl Icahn’s investment portfolio.

This May, CVR Energy, Inc. (NYSE:CVI) released earnings for the fiscal first quarter of 2022. The company generated revenues of $2.37 billion, up 62.20% year over year, beating revenue consensus by $547.76 million. Moreover, CVR Energy, Inc. (NYSE:CVI) registered an EPS of $0.02 but missed estimates by $0.02.

This May, JPMorgan analyst Phil Gresh raised his price target on CVR Energy, Inc. (NYSE:CVI) to $32 from $26 and maintained an Underweight rating on the shares.

At the close of the first quarter of 2022, 17 hedge funds were long CVR Energy, Inc. (NYSE:CVI) with stakes of $1.88 billion. This is compared to 13 hedge funds in the preceding with stakes worth $1.23 billion.