Just bought some more when it was down 2.20. Probably should have waited a little longer but I think this will be a great long term buy at this price especially if UAN can reach distribution forecast. It should as it knew it would have these costs to reduce this last distribution. Sold Aug 30 calls against purchase price so a little downside protection. Net price 26.20.
If you believe in the cockroach theory of investing the first piece of bad news is not the only one. I would wait to buy till the next quarter to see whether they can regain their momentum. Also CVR's management has been busy bringing out two new MLP'S and were probably not paying enough attention to fertilizer during what is their slow time of year.
I'd agree if the reasons for the drop were not known or anticipated by management and not communicated to investors. That's not the case here. The reasons were known and communicated and management hit their guidance. I see this a total buy and will be looking to add some.
There's 'smart money' and there's 'dumb money'. Please note the yearly dividend yield is prox. 6.7% based on the $1.81 annual dividend; not the 2+% annual dividend rate based on a one time reduction of quarterly dividend to $0.09 which multiplied by 4 quarters would be $0.76 or 2+%. The stock is approaching a buying range IMHO. This information that there would be unusual expense charge this quarter was known Sellers didn't get the message. Good Luck.
Actually they said that diist. will be double digit gain so can expect $2-2.20 atleast depending on crop prices, nat. gas prices, don't forget Icahn wants lots of dividends too so he will be pressuring mgt. to squeeze out more profits.
That was my question to? Where is everybody, this is a huge drop, brought my entire portfolio down today. My guess is that it is related to the reduced div, but that is temporary and should have effected the shares on Friday, not today. The new plant coming online is only going to make UAN more profitable looking forward. Natural gas prices are down today, but that would effect TNH and RNF-- not so much UAN. I believe this is short-term manipulation, fantastic buying opportunity here, and I just added to my position-- and the 52 week high will be reached in coming months.