CVR Refining LP (NYSE:CVRR) has been given an average rating of “Hold” by the eight research firms that are covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation and one has issued a buy recommendation on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $13.38.
CVRR has been the subject of a number of recent analyst reports. ValuEngine upgraded CVR Refining from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. UBS Group lowered CVR Refining from a “neutral” rating to a “sell” rating and increased their price target for the company from $8.50 to $10.50 in a research report on Wednesday, November 15th. Barclays upgraded CVR Refining from an “underweight” rating to an “equal weight” rating and increased their price target for the company from $13.00 to $14.00 in a research report on Tuesday, November 14th. Citigroup increased their price target on CVR Refining from $13.00 to $16.00 and gave the company a “neutral” rating in a research report on Wednesday, January 24th. Finally, Tudor Pickering lowered CVR Refining from a “buy” rating to a “hold” rating in a research report on Monday, February 26th.
Large investors have recently added to or reduced their stakes in the stock. Wells Fargo & Company MN boosted its position in shares of CVR Refining by 150.4% in the 3rd quarter. Wells Fargo & Company MN now owns 178,367 shares of the oil and gas company’s stock valued at $1,758,000 after purchasing an additional 107,130 shares during the period. Brightline Capital Management LLC acquired a new stake in CVR Refining during the 4th quarter worth about $13,240,000. BNP Paribas Arbitrage SA boosted its position in CVR Refining by 135.9% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 186,813 shares of the oil and gas company’s stock worth $1,840,000 after acquiring an additional 107,620 shares during the period. HITE Hedge Asset Management LLC boosted its position in CVR Refining by 22.3% during the 3rd quarter. HITE Hedge Asset Management LLC now owns 1,276,154 shares of the oil and gas company’s stock worth $12,570,000 after acquiring an additional 232,347 shares during the period. Finally, Acadian Asset Management LLC boosted its position in CVR Refining by 101.4% during the 4th quarter. Acadian Asset Management LLC now owns 1,659,956 shares of the oil and gas company’s stock worth $27,472,000 after acquiring an additional 835,666 shares during the period. Institutional investors and hedge funds own 14.34% of the company’s stock.
CVR Refining (NYSE CVRR) opened at $13.10 on Wednesday. CVR Refining has a 52 week low of $6.70 and a 52 week high of $18.25. The firm has a market capitalization of $1,992.60, a PE ratio of 22.88 and a beta of 1.50. The company has a current ratio of 1.45, a quick ratio of 0.76 and a debt-to-equity ratio of 0.43.
CVR Refining (NYSE:CVRR) last announced its earnings results on Thursday, February 22nd. The oil and gas company reported ($0.20) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.30 by ($0.50). CVR Refining had a net margin of 1.57% and a return on equity of 6.62%. The firm had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.19 billion. During the same period in the prior year, the business earned ($0.07) EPS. The company’s quarterly revenue was up 19.5% compared to the same quarter last year. equities analysts forecast that CVR Refining will post 1.48 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, March 12th. Investors of record on Monday, March 5th were given a $0.45 dividend. The ex-dividend date was Friday, March 2nd. This represents a $1.80 dividend on an annualized basis and a dividend yield of 13.74%. CVR Refining’s dividend payout ratio (DPR) is 305.09%.
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About CVR Refining
CVR Refining, LP is an independent downstream energy limited partnership with refining and related logistics assets that operates in the mid-continent region. The Company is a petroleum refiner. It owned and operated a complex full coking medium-sour crude oil refinery in Coffeyville, Kansas with a rated capacity of 115,000 barrels per calendar day (bpcd) and a complex crude oil refinery in Wynnewood, Oklahoma with a rated capacity of 70,000 bpcd capable of processing 20,000 bpcd of light sour crude oils (within its rated capacity of 70,000 bpcd), as of December 31, 2016.
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