1. How to use GuruFocus - Tutorials
  2. What Is in the GuruFocus Premium Membership?
  3. A DIY Guide on How to Invest Using Guru Strategies
Holly LaFon
Holly LaFon
Articles (7910) 

Carl Icahn Reduces Stake in CVR Refining He Increased in June

July 28, 2014 | About:
Carl Icahn (Trades, Portfolio) sold 975,000 shares of CVR Refining LP (NYSE:CVRR) on July 24, according to Real Time Picks. He had just increased the position by 1,638% to 104,290,764 shares on June 30.

After the sale he held 103,315,764 shares, making him 70.7% owner of the company.


A stock that has advanced only 6% in five years, CVR Refining shares climbed 16% year to date, to close at $26.33 per share on Monday.

CVR Refining is a Sugar Land, Texas-headquartered independent downstream energy limited partnership that refines and markets petroleum fuels. It owns refining and other assets in the U.S.

The company held a public offering of 6.5 million common units on June 30, giving underwriters the option to purchase up to 975,000 common units at a share price of $26.07 each. The underwriters involved in the public offering fully exercised their over-allotment option on July 21, according to SEC filings.

CVR Refining announces its second quarter earnings results and a cash distribution on July 31.

In the first quarter of 2014 the company announced first quarter net income of $265.4 million, compared to $275.4 million the previous year. Its revenue totaled $2.4 billion, compared to $2.27 billion the previous year. The company said it experienced record crude oil and other stocks from its refineries for the quarter and expected lower throughput for the second quarter.

The company also offered a distribution of 98 cents per common unit and said its quarterly dividends would vary quarter to quarter based on performance and other market factors.

For Carl Icahn (Trades, Portfolio)’s portfolio, go here. Also check out GuruFocus’ Real Time Picks, which alerts you to real-time picks of investment gurus.

Not a Premium Member of GuruFocus? Try it free for 7 days here!

Rating: 5.0/5 (2 votes)



Please leave your comment:

GuruFocus has detected 3 Warning Signs with CVR Refining LP $CVRR.
More than 500,000 people have already joined GuruFocus to track the stocks they follow and exchange investment ideas.

Performances of the stocks mentioned by Holly LaFon

User Generated Screeners

canidPE >50th percentile of INDUSTR
brucexoct 17 user defined screen
AngryQuality Growth cheap
EnjoylifeDad 1
punjanoot2007a academy+joe
kltan12LOW PB/PS
carlentValue - Short
carlentValue - Long
Get WordPress Plugins for easy affiliate links on Stock Tickers and Guru Names | Earn affiliate commissions by embedding GuruFocus Charts
GuruFocus Affiliate Program: Earn up to $400 per referral. ( Learn More)

GF Chat