Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of CVR Refining (NYSE:CVRR) jumped as much as 10% today after reporting fourth-quarter earnings.

So what: Revenue was up 85% to $1.8 billion, but net income fell 23% to $54.6 million. Income was hit by large losses on derivatives, but when we take those out and look at adjusted EBITDA, the company made $196.2 million, more than four times the $44.3 million in EBITDA last year.  

Now what: Higher-than-expected crack spreads (the price difference between gasoline and oil) caused management to raise distribution guidance per quarter from $1.21 per unit in January to a range of $1.30 to $1.55 per unit today. Distributions for the full year were also raised to a range of $5.50 to $6.50 per share, which is a huge payout at the current price. Crack spreads won't stay this high forever, but I think shares look attractive given the current yield for investors.

Interested in more info on CVR Refining? Add it to your watchlist by clicking here.

Fool contributor Travis Hoium has no position in any stocks mentioned. You can follow Travis on Twitter at @FlushDrawFool, check out his personal stock holdings, or follow his CAPS picks at TMFFlushDrawThe Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.