CVR Refining (CVRR) Upgraded to Buy at Tudor Pickering

Tudor Pickering upgraded shares of CVR Refining (NYSE:CVRR) from a hold rating to a buy rating in a research report report published on Friday morning, MarketBeat reports.

A number of other equities analysts have also recently weighed in on the stock. Barclays lifted their price target on shares of CVR Refining from $17.00 to $18.00 and gave the stock an equal weight rating in a research report on Friday, April 27th. Zacks Investment Research cut shares of CVR Refining from a strong-buy rating to a hold rating in a research report on Tuesday, February 13th. Credit Suisse Group lifted their price target on shares of CVR Refining from $14.00 to $17.00 and gave the stock a neutral rating in a research report on Monday, April 30th. Citigroup raised shares of CVR Refining from a neutral rating to a buy rating and set a $22.00 price target on the stock in a research report on Thursday, May 10th. Finally, ValuEngine raised shares of CVR Refining from a buy rating to a strong-buy rating in a research report on Friday, April 27th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus price target of $17.10.

CVRR traded up $1.20 during trading on Friday, reaching $21.90. 1,070,488 shares of the company’s stock were exchanged, compared to its average volume of 605,261. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.88 and a current ratio of 1.74. CVR Refining has a fifty-two week low of $6.70 and a fifty-two week high of $22.14. The firm has a market capitalization of $3.06 billion, a PE ratio of 36.50 and a beta of 1.32.

CVR Refining (NYSE:CVRR) last released its earnings results on Thursday, April 26th. The oil and gas company reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.19. CVR Refining had a net margin of 2.96% and a return on equity of 8.19%. The firm had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.18 billion. During the same quarter in the previous year, the business earned $0.45 EPS. The business’s quarterly revenue was up 2.4% compared to the same quarter last year. equities analysts forecast that CVR Refining will post 2.13 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Monday, May 14th. Stockholders of record on Monday, May 7th were given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 9.32%. This is a boost from CVR Refining’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend was Friday, May 4th. CVR Refining’s dividend payout ratio (DPR) is currently 340.00%.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Wells Fargo & Company MN lifted its position in 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 in the last quarter. Bank of Montreal Can lifted its position in CVR Refining by 14.2% in the 4th quarter. Bank of Montreal Can now owns 46,489 shares of the oil and gas company’s stock valued at $769,000 after acquiring an additional 5,789 shares in the last quarter. Acadian Asset Management LLC lifted its position in CVR Refining by 101.4% in the 4th quarter. Acadian Asset Management LLC now owns 1,659,956 shares of the oil and gas company’s stock valued at $27,472,000 after acquiring an additional 835,666 shares in the last quarter. Cetera Advisors LLC bought a new stake in CVR Refining in the 4th quarter valued at $261,000. Finally, Brightline Capital Management LLC bought a new stake in CVR Refining in the 4th quarter valued at $13,240,000. 14.46% of the stock is currently owned by institutional investors.

CVR Refining Company Profile

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)

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