CVR Refining LP (CVRR) Declares Quarterly Dividend of $0.98
CVR Refining (NASDAQ:CVRR) declared a quarterly dividend on Thursday, May 1st, Analyst Ratings Net reports. Shareholders of record on Monday, May 12th will be given a dividend of 0.98 per share on Monday, May 19th. This represents a $3.92 dividend on an annualized basis and a yield of 15.02%. The ex-dividend date of this dividend is Thursday, May 8th. This is a positive change from CVR Refining’s previous quarterly dividend of $0.45.
Several analysts have recently commented on the stock. Analysts at Zacks upgraded shares of CVR Refining from a “neutral” rating to an “outperform” rating in a research note on Monday. They now have a $28.90 price target on the stock. On the ratings front, analysts at Barclays raised their price target on shares of CVR Refining from $24.00 to $28.00 in a research note on Tuesday, May 6th. They now have an “equal weight” rating on the stock. Finally, analysts at TheStreet upgraded shares of CVR Refining from a “sell” rating to a “hold” rating in a research note on Wednesday, April 16th. Seven research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. CVR Refining has an average rating of “Hold” and a consensus price target of $27.32.
Shares of CVR Refining (NASDAQ:CVRR) traded down 1.29% during mid-day trading on Monday, hitting $26.09. 599,469 shares of the company’s stock traded hands. CVR Refining has a 1-year low of $20.16 and a 1-year high of $30.97. The stock has a 50-day moving average of $24. and a 200-day moving average of $23.00. The company has a market cap of $3.851 billion and a price-to-earnings ratio of 6.73.
CVR Refining (NASDAQ:CVRR) last released its earnings data on Thursday, May 1st. The company reported $1.80 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.90 by $0.90. The company had revenue of $2.38 billion for the quarter, compared to the consensus estimate of $2.07 billion. During the same quarter last year, the company posted $1.34 earnings per share. CVR Refining’s revenue was up 4.5% compared to the same quarter last year. Analysts expect that CVR Refining will post $4.56 EPS for the current fiscal year.
CVR Refining, LP is an energy limited partnership with refining and related logistics assets that operates in the mid-continent region.
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