CVR Partners (NYSE:UAN) Cut to “Hold” at Wall Street Zen

Wall Street Zen downgraded shares of CVR Partners (NYSE:UAN) from a buy rating to a hold rating in a research report released on Saturday morning,Wall Street Zen reports.

Other equities research analysts have also issued research reports about the stock. Freedom Broker initiated coverage on shares of CVR Partners in a report on Tuesday, October 27th. They issued a “hold” rating and a $124.00 price target on the stock. Weiss Ratings restated a “buy (b)” rating on shares of CVR Partners in a research report on Tuesday, August 11th. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $124.00.

CVR Partners Stock Up 2.2%

Shares of CVR Partners stock opened at $111.91 on Friday. The company has a debt-to-equity ratio of 2.09, a quick ratio of 2.11 and a current ratio of 1.65. CVR Partners has a 52-week low of $93.43 and a 52-week high of $139.50. The stock has a market capitalization of $1.18 billion, a price-to-earnings ratio of 11.12 and a beta of 0.21. The company’s 50 day moving average price is $126.58 and its 200-day moving average price is $121.51.

CVR Partners (NYSE:UAN) last issued its earnings results on Tuesday, November 3rd. The basic materials company reported ($1.02) EPS for the quarter, missing the consensus estimate of $1.62 by ($2.64). CVR Partners had a return on equity of 35.58% and a net margin of 16.14%. The firm had revenue of $146.15 million during the quarter, compared to analysts’ expectations of $165.40 million.

CVR Partners Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 23rd. Investors of record on Monday, November 16th will be issued a $1.79 dividend. This represents a $7.16 annualized dividend and a yield of 6.4%. This is a decrease from CVR Partners’s previous quarterly dividend of $6.08. The ex-dividend date is Monday, November 16th. CVR Partners’s dividend payout ratio (DPR) is presently 241.75%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. De Lisle Partners LLP bought a new position in shares of CVR Partners in the 2nd quarter worth about $6,058,000. Bank of America Corp DE boosted its stake in CVR Partners by 219.8% during the first quarter. Bank of America Corp DE now owns 7,209 shares of the basic materials company’s stock worth $913,000 after acquiring an additional 4,955 shares in the last quarter. Alps Advisors Inc. bought a new stake in CVR Partners during the third quarter worth about $542,000. Oppenheimer & Co. Inc. bought a new stake in CVR Partners during the third quarter worth about $504,000. Finally, MGO One Seven LLC purchased a new stake in CVR Partners in the third quarter worth about $405,000. Hedge funds and other institutional investors own 43.83% of the company’s stock.

About CVR Partners

CVR Partners, LP is a nitrogen fertilizer producer that manufactures and sells ammonia and urea ammonium nitrate (UAN), a liquid fertilizer used primarily in agriculture. The company operates as a publicly traded limited partnership.

Its production facilities are located in Coffeyville, Kansas, and East Dubuque, Illinois. The Coffeyville facility uses petroleum coke as a feedstock, while the East Dubuque facility uses natural gas. CVR Partners serves agricultural and industrial customers, with its operations focused on the U.S.