CVR Refining LP (NYSE:CVRR) announced a quarterly dividend on Friday, February 23rd, Wall Street Journal reports. Stockholders of record on Monday, March 5th will be given a dividend of 0.45 per share by the oil and gas company on Monday, March 12th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 13.04%. The ex-dividend date is Friday, March 2nd.
CVR Refining has decreased its dividend payment by an average of 31.5% annually over the last three years. CVR Refining has a dividend payout ratio of 270.5% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect CVR Refining to earn $1.21 per share next year, which means the company may not be able to cover its $3.76 annual dividend with an expected future payout ratio of 310.7%.
Shares of CVR Refining (NYSE CVRR) opened at $13.80 on Friday. CVR Refining has a fifty-two week low of $6.70 and a fifty-two week high of $18.25. The company has a current ratio of 1.86, a quick ratio of 1.34 and a debt-to-equity ratio of 0.38. The company has a market cap of $2,036.88, a P/E ratio of 23.39 and a beta of 1.31.
CVR Refining (NYSE:CVRR) last posted its quarterly earnings results on Thursday, February 22nd. The oil and gas company reported ($0.20) EPS for the quarter, missing the Zacks’ consensus estimate of $0.30 by ($0.50). CVR Refining had a net margin of 1.57% and a return on equity of 6.46%. The firm had revenue of $1.52 billion for the quarter, compared to analysts’ expectations of $1.19 billion. During the same quarter in the previous year, the company earned ($0.07) EPS. The company’s quarterly revenue was up 19.5% compared to the same quarter last year. sell-side analysts forecast that CVR Refining will post 1.41 EPS for the current year.
A number of equities research analysts have recently commented on CVRR shares. Barclays increased their price target on shares of CVR Refining from $10.00 to $13.00 and gave the company an “underweight” rating in a report on Thursday, November 2nd. BidaskClub upgraded shares of CVR Refining from a “hold” rating to a “buy” rating in a report on Saturday, November 4th. UBS Group cut shares of CVR Refining from a “neutral” rating to a “sell” rating and raised their target price for the stock from $8.50 to $10.50 in a report on Wednesday, November 15th. ValuEngine upgraded shares of CVR Refining from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Finally, Citigroup raised their target price on shares of CVR Refining from $13.00 to $16.00 and gave the stock a “neutral” rating in a report on Wednesday, January 24th. One analyst has rated the stock with a sell rating, five have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. CVR Refining presently has an average rating of “Hold” and a consensus price target of $12.58.
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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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