When Carl Ichahn Buying stocks is known as the “Icahn lift.” This refers to the impact the so-called “corporate raider” has on buying shares of an underlying company.

Speaking to MarketWatch, Icahn took a bearish stance, mentioning that shares will continue to fall, although it suggests so CVR Energy CVI watch as a stock.

Icahn currently holds a position in CVR Energy of more than 71 million shares, which translates to 11% the portfolio.

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Here are two dividend stocks Icahn holds because he thinks companies involved in the oil refining industry will continue to do well.

• First Energy Corp. FE offers a dividend yield of 4.02%, or $1.56 per share annually through quarterly payments, with a mixed track record of growing its dividends. Based in Akron, Ohio, the company owns and operates one of the nation’s largest electrical transmission systems with 24,000 miles of wire. FirstEnergy Managing Director Steven E Strah stated in the second quarterly report that the company had improved its balance sheet by using proceeds from “historic capital increases” to repay over $2.5 billion of debt and fund equity investment programs. “We now believe we are on track to achieve solid investment-grade credit metrics of approximately 13% funds from operations to debt in 2023, a year ahead of schedule,” he added.
• Southwest Gas Holdings Inc. SWX offers a 3.31% annual dividend yield, or $2.48 per share, makes quarterly payments and has grown its dividends for three straight years. Southwest Gas Holdings is engaged in the business of purchasing, distributing and transporting natural gas, serving over 2 million customers in portions of California and Nevada while being the largest natural gas distributor in Arizona and Nevada. Also, the Las Vegas-based company expects a 5% to 7% compound annual growth rate from 2022 to 2026 for its 5% to 7% compound annual growth rate. Southwest Gas has…