CVR Refining, LP (CVRR) Given Average Rating of “Hold” by Brokerages
Shares of CVR Refining, LP (NYSE:CVRR) have been assigned an average recommendation of “Hold” from the eleven ratings firms that are covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, six have given a hold recommendation and three have given a buy recommendation to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $11.33.
Several brokerages recently weighed in on CVRR. ValuEngine downgraded shares of CVR Refining from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 14th. BidaskClub downgraded shares of CVR Refining from a “sell” rating to a “strong sell” rating in a research note on Sunday, August 6th. UBS reissued a “neutral” rating and issued a $8.50 target price (down previously from $10.00) on shares of CVR Refining in a research note on Tuesday, August 8th. Zacks Investment Research raised shares of CVR Refining from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 12th. Finally, Barclays boosted their target price on shares of CVR Refining from $10.00 to $13.00 and gave the company an “underweight” rating in a research note on Thursday, November 2nd.
Several hedge funds and other institutional investors have recently bought and sold shares of CVRR. Alliancebernstein L.P. acquired a new position in shares of CVR Refining during the 1st quarter valued at about $112,000. Bank of Montreal Can purchased a new stake in shares of CVR Refining during the 2nd quarter worth about $766,000. Russell Investments Group Ltd. purchased a new stake in shares of CVR Refining during the 2nd quarter worth about $570,000. HITE Hedge Asset Management LLC purchased a new stake in shares of CVR Refining during the 2nd quarter worth about $9,916,000. Finally, Artemis Investment Management LLP purchased a new stake in shares of CVR Refining during the 2nd quarter worth about $5,897,000. 12.79% of the stock is owned by institutional investors.
CVR Refining (NYSE:CVRR) last announced its earnings results on Wednesday, November 1st. The oil and gas company reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.24. CVR Refining had a net margin of 1.98% and a return on equity of 7.90%. The firm had revenue of $1.39 billion during the quarter, compared to the consensus estimate of $1.20 billion. During the same quarter in the previous year, the company posted $0.11 EPS. The firm’s revenue for the quarter was up 19.1% on a year-over-year basis. equities analysts expect that CVR Refining will post 1.53 earnings per share for the current fiscal year.
The business also recently disclosed a special dividend, which was paid on Friday, November 17th. Stockholders of record on Friday, November 10th were paid a dividend of $0.94 per share. The ex-dividend date was Thursday, November 9th. CVR Refining’s dividend payout ratio is currently 522.23%.
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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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