CVR Energy Inc.'s stock surged 7.60% during the night session, marking a significant 24-hour gain for the energy company.

The rally follows multiple open market purchases by Carl Icahn, a 10% owner of CVR Energy, who acquired shares on February 20, 23, and 24 according to SEC filings. These transactions signal strong insider confidence in the company's prospects.

Additionally, CVR Energy published an investor presentation outlining its petroleum refining and nitrogen fertilizer manufacturing operations, including 2026 capital expenditure plans of $130 million to $145 million for the petroleum segment and $60 million to $75 million for the nitrogen fertilizer segment.