CVR Refining (CVRR) Upgraded at Goldman Sachs

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.

Analyst Recommendations for CVR Refining (NYSE:CVRR)

Receive News & Ratings for CVR Refining Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CVR Refining and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply