Goldman Sachs upgraded shares of CVR Refining (NYSE:CVRR) from a neutral rating to a buy rating in a research note released on Monday, Marketbeat.com reports.
A number of other equities research analysts have also recently commented on CVRR. Barclays reiterated a hold rating and issued a $17.00 price target on shares of CVR Refining in a research note on Wednesday, January 10th. Citigroup raised their price objective on CVR Refining from $13.00 to $16.00 and gave the stock a neutral rating in a research note on Wednesday, January 24th. ValuEngine upgraded CVR Refining from a buy rating to a strong-buy rating in a research note on Friday, February 2nd. Zacks Investment Research cut CVR Refining from a strong-buy rating to a hold rating in a research note on Tuesday, February 13th. Finally, Tudor Pickering cut CVR Refining from a buy rating to a hold rating in a research note on Monday, February 26th. One analyst has rated the stock with a sell rating, four have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. CVR Refining currently has an average rating of Hold and a consensus price target of $15.90.
CVR Refining stock opened at $19.05 on Monday. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.74 and a quick ratio of 0.88. CVR Refining has a one year low of $6.70 and a one year high of $19.15. The stock has a market capitalization of $2.56 billion, a price-to-earnings ratio of 23.77 and a beta of 1.32.
CVR Refining (NYSE:CVRR) last released its quarterly earnings results on Thursday, April 26th. The oil and gas company reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.19. CVR Refining had a return on equity of 8.19% and a net margin of 2.96%. The company had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.18 billion. During the same period last year, the business posted $0.45 earnings per share. The firm’s revenue was up 2.4% compared to the same quarter last year. equities analysts predict that CVR Refining will post 2.08 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 14th. Stockholders of record on Monday, May 7th will be paid a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 10.71%. This is a boost from CVR Refining’s previous quarterly dividend of $0.45. The ex-dividend date is Friday, May 4th. CVR Refining’s dividend payout ratio (DPR) is presently 340.00%.
Several large investors have recently made changes to their positions in the company. Acadian Asset Management LLC grew its holdings in CVR Refining by 101.4% during the fourth quarter. Acadian Asset Management LLC now owns 1,659,956 shares of the oil and gas company’s stock worth $27,472,000 after acquiring an additional 835,666 shares during the period. Brightline Capital Management LLC acquired a new stake in CVR Refining during the fourth quarter worth about $13,240,000. Guggenheim Capital LLC grew its holdings in CVR Refining by 698.3% during the fourth quarter. Guggenheim Capital LLC now owns 197,967 shares of the oil and gas company’s stock worth $3,276,000 after acquiring an additional 173,167 shares during the period. Deutsche Bank AG grew its holdings in CVR Refining by 23.6% during the fourth quarter. Deutsche Bank AG now owns 675,012 shares of the oil and gas company’s stock worth $11,171,000 after acquiring an additional 129,012 shares during the period. Finally, Wells Fargo & Company MN grew its holdings in CVR Refining by 150.4% during the third quarter. Wells Fargo & Company MN now owns 178,367 shares of the oil and gas company’s stock worth $1,758,000 after acquiring an additional 107,130 shares during the period. Hedge funds and other institutional investors own 14.61% of the company’s stock.
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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