CVR Refining Stock Rating Lowered by Zacks (CVRR)
CVR Refining (NASDAQ:CVRR) was downgraded by Zacks from a “neutral” rating to an “underperform” rating in a note issued to investors on Wednesday. They currently have a $22.60 price target on the stock. Zacks‘s price target points to a potential downside of 5.04% from the company’s current price.
CVR Refining (NASDAQ:CVRR) traded up 1.30% on Wednesday, hitting $24.11. 215,577 shares of the company’s stock traded hands. CVR Refining has a one year low of $20.16 and a one year high of $28.55. The stock’s 50-day moving average is $25.43 and its 200-day moving average is $24.40. The company has a market cap of $3.559 billion and a price-to-earnings ratio of 8.35.
CVR Refining (NASDAQ:CVRR) last posted its quarterly earnings data on Thursday, July 31st. The company reported $1.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.24. The company had revenue of $2.47 billion for the quarter. During the same quarter in the previous year, the company posted $2.30 earnings per share. The company’s revenue for the quarter was up 15.4% on a year-over-year basis. On average, analysts predict that CVR Refining will post $3.86 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, August 18th. Shareholders of record on Monday, August 11th will be given a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a yield of 16.13%. The ex-dividend date of this dividend is Thursday, August 7th.
CVRR has been the subject of a number of other recent research reports. Analysts at JPMorgan Chase & Co. reiterated a “neutral” rating on shares of CVR Refining in a research note on Thursday, July 31st. They now have a $26.00 price target on the stock, up previously from $24.00. Analysts at Goldman Sachs reiterated a “hold” rating on shares of CVR Refining in a research note on Wednesday, May 21st. They now have a $31.00 price target on the stock. One analyst has rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. CVR Refining presently has an average rating of “Hold” and a consensus price target of $26.27.
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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