CVR Refining (NYSE:CVRR) had its price target cut by Citigroup from $25.00 to $21.00 in a research note published on Wednesday, Marketbeat reports. They currently have a hold rating on the oil and gas company’s stock.
CVRR has been the subject of several other research reports. Barclays lifted their target price on shares of CVR Refining from $17.00 to $18.00 and gave the stock an equal weight rating in a report on Friday, April 27th. Credit Suisse Group lifted their target price on shares of CVR Refining from $14.00 to $17.00 and gave the stock a neutral rating in a report on Monday, April 30th. Tudor Pickering raised shares of CVR Refining from a hold rating to a buy rating in a report on Friday, May 18th. Zacks Investment Research raised shares of CVR Refining from a strong sell rating to a hold rating and set a $18.00 target price for the company in a report on Tuesday, April 17th. Finally, JPMorgan Chase & Co. lifted their target price on shares of CVR Refining from $22.00 to $24.00 and gave the stock a neutral rating in a report on Friday, July 27th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company. The company has a consensus rating of Hold and an average target price of $19.36.
CVR Refining stock opened at $18.65 on Wednesday. The stock has a market cap of $2.82 billion, a PE ratio of 31.08 and a beta of 1.49. CVR Refining has a fifty-two week low of $7.05 and a fifty-two week high of $26.00. The company has a current ratio of 1.87, a quick ratio of 1.02 and a debt-to-equity ratio of 0.39.
CVR Refining (NYSE:CVRR) last released its quarterly earnings data on Wednesday, July 25th. The oil and gas company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.22. The company had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.72 billion. CVR Refining had a net margin of 4.94% and a return on equity of 18.39%. CVR Refining’s revenue for the quarter was up 36.3% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.13) EPS. research analysts expect that CVR Refining will post 2.09 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, August 13th. Investors of record on Monday, August 6th were issued a dividend of $0.66 per share. This is an increase from CVR Refining’s previous quarterly dividend of $0.51. The ex-dividend date of this dividend was Friday, August 3rd. This represents a $2.64 annualized dividend and a dividend yield of 14.16%. CVR Refining’s payout ratio is presently 440.00%.
Several hedge funds have recently made changes to their positions in the stock. Premia Global Advisors LLC bought a new stake in CVR Refining in the 2nd quarter valued at about $103,000. Arete Wealth Advisors LLC bought a new stake in CVR Refining in the 1st quarter valued at about $141,000. Koch Industries Inc. boosted its holdings in CVR Refining by 39.1% in the 1st quarter. Koch Industries Inc. now owns 17,993 shares of the oil and gas company’s stock valued at $235,000 after purchasing an additional 5,062 shares during the period. Sheaff Brock Investment Advisors LLC bought a new stake in CVR Refining in the 1st quarter valued at about $248,000. Finally, First Allied Advisory Services Inc. bought a new stake in CVR Refining in the 2nd quarter valued at about $286,000. 15.54% of the stock is owned by institutional investors and hedge funds.
About CVR Refining
CVR Refining, LP operates as an independent petroleum refiner and marketer of transportation fuels in the United States. The company owns and operates a complex full coking medium-sour crude oil refinery in Coffeyville, Kansas; and a complex crude oil refinery in Wynnewood, Oklahoma. It also controls and operates logistics assets, including approximately 570 miles of owned and leased pipelines; approximately 130 crude oil transports; a network of crude oil gathering tank farms; and approximately 6.4 million barrels of owned and leased crude oil storage capacity, as well as approximately 4.6 million barrels of combined refined products and feedstocks storage capacity.
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