CVR Refining (CVRR) Rating Lowered to Hold at ValuEngine
ValuEngine downgraded shares of CVR Refining (NYSE:CVRR) from a buy rating to a hold rating in a research report report published on Tuesday morning.
A number of other equities research analysts also recently weighed in on CVRR. Barclays raised their target price on CVR Refining from $10.00 to $13.00 and gave the company an underweight rating in a report on Thursday, November 2nd. BidaskClub raised CVR Refining from a hold rating to a buy rating in a report on Saturday, November 4th. UBS Group downgraded CVR Refining from a neutral rating to a sell rating and raised their target price for the company from $8.50 to $10.50 in a report on Wednesday, November 15th. Citigroup increased their price target on CVR Refining from $13.00 to $16.00 and gave the company a neutral rating in a research note on Wednesday, January 24th. Finally, Zacks Investment Research cut CVR Refining from a strong-buy rating to a hold rating in a research note on Tuesday, February 13th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average target price of $12.58.
Shares of CVR Refining (CVRR) opened at $12.50 on Tuesday. The firm has a market capitalization of $1,840.00, a price-to-earnings ratio of 20.83 and a beta of 1.49. CVR Refining has a twelve month low of $6.70 and a twelve month high of $18.25. The company has a quick ratio of 1.34, a current ratio of 1.45 and a debt-to-equity ratio of 0.43.
The company also recently declared a quarterly dividend, which will be paid on Monday, March 12th. Stockholders of record on Monday, March 5th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 14.40%. The ex-dividend date of this dividend is Friday, March 2nd. CVR Refining’s payout ratio is 626.67%.
Institutional investors and hedge funds have recently made changes to their positions in the company. Wells Fargo & Company MN lifted its stake in shares of CVR Refining by 150.4% in the 3rd quarter. Wells Fargo & Company MN now owns 178,367 shares of the oil and gas company’s stock valued at $1,758,000 after acquiring an additional 107,130 shares during the last quarter. BNP Paribas Arbitrage SA raised its position in CVR Refining by 135.9% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 186,813 shares of the oil and gas company’s stock worth $1,840,000 after purchasing an additional 107,620 shares during the last quarter. Brightline Capital Management LLC bought a new position in CVR Refining during the 4th quarter worth $13,240,000. HITE Hedge Asset Management LLC raised its position in CVR Refining by 22.3% during the 3rd quarter. HITE Hedge Asset Management LLC now owns 1,276,154 shares of the oil and gas company’s stock worth $12,570,000 after purchasing an additional 232,347 shares during the last quarter. Finally, GSA Capital Partners LLP raised its position in CVR Refining by 73.9% during the 3rd quarter. GSA Capital Partners LLP now owns 80,430 shares of the oil and gas company’s stock worth $792,000 after purchasing an additional 34,171 shares during the last quarter. Institutional investors own 13.59% of the company’s stock.
CVR Refining Company Profile
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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