CVR Refining, LP (CVRR) Plans $0.94 Special Dividend
CVR Refining, LP (NYSE:CVRR) declared a special dividend on Thursday, November 2nd, Wall Street Journal reports. Shareholders of record on Friday, November 10th will be paid a dividend of 0.94 per share by the oil and gas company on Friday, November 17th. The ex-dividend date of this dividend is Thursday, November 9th.
CVR Refining, (NYSE:CVRR) last announced its quarterly earnings data on Wednesday, November 1st. The oil and gas company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.24. The business had revenue of $1.39 billion during the quarter, compared to analysts’ expectations of $1.20 billion. CVR Refining, had a return on equity of 3.99% and a net margin of 1.02%. The business’s quarterly revenue was up 19.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.11 EPS.
CVRR has been the topic of several research analyst reports. ValuEngine lowered CVR Refining, from a “buy” rating to a “hold” rating in a research report on Monday, September 11th. BidaskClub lowered CVR Refining, from a “sell” rating to a “strong sell” rating in a research report on Sunday, August 6th. Citigroup Inc. cut their target price on CVR Refining, from $11.00 to $10.00 and set a “neutral” rating on the stock in a research report on Monday, July 17th. Zacks Investment Research lowered CVR Refining, from a “hold” rating to a “sell” rating in a research report on Wednesday, July 5th. Finally, UBS AG reissued a “neutral” rating and set a $8.50 target price (down previously from $10.00) on shares of CVR Refining, in a research report on Tuesday, August 8th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the stock. CVR Refining, currently has an average rating of “Hold” and a consensus target price of $10.38.
CVR Refining, Company Profile
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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