BlackRock Discloses 4.9% Stake in CVR Energy Inc.
Ticker: CVI · Form: SC 13G · Filed: Jan 29, 2024 · CIK: 1376139
| Field | Detail |
|---|---|
| Company | Cvr Energy INC (CVI) |
| Form Type | SC 13G |
| Filed Date | Jan 29, 2024 |
| Risk Level | low |
| Sentiment | neutral |
Complexity: simple
Sentiment: neutral
Topics: institutional-ownership, passive-investment, SC-13G
TL;DR
**BlackRock owns 4.9% of CVR Energy, a solid institutional vote of confidence.**
AI Summary
BlackRock, Inc., a major investment firm, reported its ownership in CVR Energy Inc. (a petroleum refining company) as of December 31, 2023. This SC 13G filing indicates BlackRock beneficially owns 4,964,484 shares of CVR Energy's Common Stock, representing 4.9% of the company. This matters to investors because BlackRock is a significant institutional holder, and its position can influence market perception and liquidity for CVR Energy stock.
Why It Matters
This filing confirms BlackRock's substantial, but non-controlling, investment in CVR Energy, signaling institutional confidence in the company's prospects.
Risk Assessment
Risk Level: low — This filing is a routine disclosure of a passive investment by a large institutional investor, posing minimal direct risk.
Analyst Insight
Investors should note BlackRock's significant, but passive, stake as a sign of institutional interest, but this filing alone doesn't suggest any immediate catalysts or changes in company direction.
Key Numbers
- 4,964,484 — Shares Beneficially Owned (BlackRock's total ownership in CVR Energy)
- 4.9% — Percentage of Class (BlackRock's stake in CVR Energy's common stock)
Key Players & Entities
- BlackRock, Inc. (company) — reporting person, institutional investor
- CVR ENERGY INC (company) — subject company, petroleum refining
- 4,964,484 (dollar_amount) — number of shares beneficially owned by BlackRock
- 4.9% (dollar_amount) — percentage of CVR Energy's common stock owned by BlackRock
- December 31, 2023 (person) — date of event requiring the filing
Forward-Looking Statements
- BlackRock will maintain its passive investment in CVR Energy Inc. for the foreseeable future. (BlackRock, Inc.) — high confidence, target: 2025-12-31
FAQ
What is the name of the company whose shares are being reported in this SC 13G filing?
The name of the issuer is CVR ENERGY INC, as stated in the 'Name of Issuer' section of the filing.
Who is the reporting person making this filing?
The reporting person is BlackRock, Inc., as identified in the 'Names of reporting persons' section and the 'FILED BY' company data.
What was the date of the event that required this Schedule 13G filing?
The date of the event which required the filing of this statement was December 31, 2023, as specified under 'Date of Event Which Requires Filing of this Statement'.
What percentage of CVR Energy Inc.'s Common Stock does BlackRock, Inc. beneficially own according to this filing?
BlackRock, Inc. beneficially owns 4.9% of CVR Energy Inc.'s Common Stock, as indicated by the 'Percentage of class represented by amount in row (9)' on the cover page.
Under which rule of the Securities Exchange Act of 1934 was this Schedule 13G filed?
This Schedule 13G was filed under Rule 13d-1(b), as indicated by the 'X' next to 'Rule 13d-1(b)' in the filing.
Filing Details
This Form SC 13G (Form SC 13G) was filed with the SEC on January 29, 2024 by December 31, 2023 regarding CVR ENERGY INC (CVI).