Dividend dropped from .486 to .306 cents.
Just hope the government keeps supporting the corn/gas combination and no one figures out that Indian hemp oil could be substituted at less cost.
Do not forget Nat Gas @ +4% today.
CVRR was oversold below fourteen thus the bounce. Inventory valuation should be a one quarter hit, add in the current refinery strike (10% of capacity) and Q1 could look good.
The main risk to refining profits lies with crude inventory accounting methods. LAST IN FIRST OUT devalues earliest purchases as oil prices fall. Couple this with falling refined product revenues and things could be tight.
Just reported yesterday and now starting another leg down. Jim Bob is senile and the rest of the board has been stuffing their pockets.