CVR Refining (CVRR) Stock Rating Upgraded by Citigroup
Citigroup upgraded shares of CVR Refining (NYSE:CVRR) from a neutral rating to a buy rating in a report published on Thursday morning, Marketbeat Ratings reports. Citigroup currently has $22.00 price objective on the oil and gas company’s stock.
Several other brokerages have also recently commented on CVRR. Zacks Investment Research cut shares of CVR Refining from a buy rating to a hold rating in a research report on Monday, April 23rd. ValuEngine raised shares of CVR Refining from a hold rating to a buy rating in a research report on Monday, April 2nd. Credit Suisse Group initiated coverage on shares of CVR Refining in a report on Monday, April 9th. They issued a neutral rating and a $14.00 target price on the stock. TheStreet raised shares of CVR Refining from a c+ rating to a b rating in a report on Thursday, April 26th. Finally, Barclays reissued a hold rating and issued a $17.00 target price on shares of CVR Refining in a report on Wednesday, January 10th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of Buy and a consensus price target of $17.10.
Shares of CVR Refining opened at $18.70 on Thursday, Marketbeat.com reports. The company has a current ratio of 1.74, a quick ratio of 0.88 and a debt-to-equity ratio of 0.41. CVR Refining has a one year low of $6.70 and a one year high of $19.45. The stock has a market cap of $2.76 billion, a PE ratio of 25.62 and a beta of 1.32.
CVR Refining (NYSE:CVRR) last issued its quarterly earnings results on Thursday, April 26th. The oil and gas company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.40 by $0.19. CVR Refining had a net margin of 2.96% and a return on equity of 8.19%. The business had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.18 billion. During the same quarter last year, the company posted $0.45 earnings per share. The company’s quarterly revenue was up 2.4% compared to the same quarter last year. analysts anticipate that CVR Refining will post 2.08 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, May 14th. Shareholders of record on Monday, May 7th will be issued a $0.51 dividend. The ex-dividend date is Friday, May 4th. This represents a $2.04 dividend on an annualized basis and a yield of 10.91%. This is a boost from CVR Refining’s previous quarterly dividend of $0.45. CVR Refining’s dividend payout ratio (DPR) is currently 340.00%.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Hsbc Holdings PLC lifted its holdings in CVR Refining by 514.9% in the first quarter. Hsbc Holdings PLC now owns 77,259 shares of the oil and gas company’s stock worth $1,008,000 after acquiring an additional 64,695 shares during the last quarter. California Public Employees Retirement System lifted its holdings in CVR Refining by 23.0% in the first quarter. California Public Employees Retirement System now owns 121,626 shares of the oil and gas company’s stock worth $1,587,000 after acquiring an additional 22,719 shares during the last quarter. Brightline Capital Management LLC increased its stake in shares of CVR Refining by 25.0% in the first quarter. Brightline Capital Management LLC now owns 1,000,000 shares of the oil and gas company’s stock valued at $13,050,000 after purchasing an additional 200,000 shares during the period. JPMorgan Chase & Co. increased its stake in shares of CVR Refining by 225.7% in the first quarter. JPMorgan Chase & Co. now owns 1,776,238 shares of the oil and gas company’s stock valued at $23,180,000 after purchasing an additional 1,230,845 shares during the period. Finally, Sheaff Brock Investment Advisors LLC acquired a new stake in shares of CVR Refining in the first quarter valued at approximately $248,000. 14.46% of the stock is currently owned by hedge funds and other institutional investors.
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.