Shares of CVR Refining LP (NYSE:CVRR) have received an average rating of “Hold” from the eight brokerages that are presently covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $13.38.
A number of brokerages have recently commented on CVRR. Citigroup raised their price target on CVR Refining from $13.00 to $16.00 and gave the company a “neutral” rating in a report on Wednesday, January 24th. ValuEngine raised CVR Refining from a “buy” rating to a “strong-buy” rating in a report on Friday, February 2nd. Barclays reissued a “hold” rating and set a $17.00 price target on shares of CVR Refining in a report on Wednesday, January 10th. Zacks Investment Research lowered CVR Refining from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 13th. Finally, Tudor Pickering lowered CVR Refining from a “buy” rating to a “hold” rating in a report on Monday, February 26th.
Institutional investors and hedge funds have recently modified their holdings of the company. Alliancebernstein L.P. increased its holdings in shares of CVR Refining by 14.4% during the second quarter. Alliancebernstein L.P. now owns 13,515 shares of the oil and gas company’s stock valued at $128,000 after purchasing an additional 1,705 shares during the period. Hotchkis & Wiley Capital Management LLC acquired a new position in shares of CVR Refining during the third quarter valued at $185,000. Cetera Advisors LLC bought a new position in CVR Refining during the fourth quarter valued at about $261,000. Geode Capital Management LLC bought a new position in CVR Refining during the fourth quarter valued at about $386,000. Finally, Regal Investment Advisors LLC boosted its stake in CVR Refining by 10.9% during the third quarter. Regal Investment Advisors LLC now owns 41,637 shares of the oil and gas company’s stock valued at $410,000 after buying an additional 4,100 shares in the last quarter. 14.34% of the stock is currently owned by institutional investors.
CVR Refining (NYSE:CVRR) last issued 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 return on equity of 6.62% and a net margin of 1.57%. The company had revenue of $1.52 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same period in the prior year, the business earned ($0.07) earnings per share. CVR Refining’s quarterly revenue was up 19.5% on a year-over-year basis. equities analysts anticipate that CVR Refining will post 1.48 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, March 12th. Stockholders of record on Monday, March 5th were issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 13.74%. The ex-dividend date of this dividend was Friday, March 2nd. 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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