IFG Advisory LLC acquired a new position in shares of CVR Refining LP (NYSE:CVRR) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 22,590 shares of the oil and gas company’s stock, valued at approximately $445,000.
Other hedge funds also recently made changes to their positions in the company. SG Americas Securities LLC acquired a new position in CVR Refining during the 2nd quarter worth $883,000. Natixis acquired a new position in shares of CVR Refining in the 2nd quarter valued at about $7,290,000. Alpine Global Management LLC acquired a new position in shares of CVR Refining in the 2nd quarter valued at about $6,770,000. Bank of Montreal Can boosted its holdings in shares of CVR Refining by 176.4% in the 2nd quarter. Bank of Montreal Can now owns 741,604 shares of the oil and gas company’s stock valued at $16,575,000 after buying an additional 473,282 shares during the period. Finally, Intrinsic Edge Capital Management LLC boosted its holdings in shares of CVR Refining by 160.7% in the 2nd quarter. Intrinsic Edge Capital Management LLC now owns 429,919 shares of the oil and gas company’s stock valued at $9,609,000 after buying an additional 265,019 shares during the period. 16.33% of the stock is owned by institutional investors.
NYSE CVRR opened at $17.28 on Friday. CVR Refining LP has a one year low of $11.11 and a one year high of $26.00. The company has a quick ratio of 1.22, a current ratio of 1.94 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $2.66 billion, a PE ratio of 7.59 and a beta of 1.48.
The firm also recently declared a quarterly dividend, which will be paid on Monday, November 12th. Stockholders of record on Monday, November 5th will be issued a $0.90 dividend. The ex-dividend date of this dividend is Friday, November 2nd. This is a positive change from CVR Refining’s previous quarterly dividend of $0.66. This represents a $3.60 annualized dividend and a dividend yield of 20.83%. CVR Refining’s payout ratio is 600.00%.
Several research analysts have recently commented on CVRR shares. JPMorgan Chase & Co. lifted their price target on shares of CVR Refining from $22.00 to $24.00 and gave the company a “neutral” rating in a report on Friday, July 27th. Tudor Pickering lowered shares of CVR Refining from a “buy” rating to a “hold” rating in a report on Friday, July 27th. Zacks Investment Research lowered shares of CVR Refining from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 31st. ValuEngine lowered shares of CVR Refining from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 2nd. Finally, Mizuho started coverage on shares of CVR Refining in a report on Thursday, August 2nd. They issued a “buy” rating and a $27.00 price target for the company. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $18.79.
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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.
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