CVR Refining, LP (CVRR) Upgraded by ValuEngine to “Buy”

ValuEngine upgraded shares of CVR Refining, LP (NYSE:CVRR) from a hold rating to a buy rating in a research note released on Wednesday morning.

A number of other research firms have also recently commented on CVRR. BidaskClub cut CVR Refining, from a sell rating to a strong sell rating in a research report on Sunday, August 6th. Citigroup Inc. dropped their price objective on CVR Refining, from $11.00 to $10.00 and set a neutral rating for the company in a research report on Monday, July 17th. Zacks Investment Research cut CVR Refining, from a hold rating to a sell rating in a research report on Wednesday, July 5th. Finally, UBS AG reiterated a neutral rating and set a $8.50 price objective (down previously from $10.00) on shares of CVR Refining, in a research report on Tuesday, August 8th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company’s stock. CVR Refining, presently has an average rating of Hold and a consensus price target of $9.69.

Shares of CVR Refining, (CVRR) traded up 0.2442% on Wednesday, hitting $11.3276. 292,690 shares of the stock traded hands. The firm’s 50 day moving average is $9.12 and its 200-day moving average is $9.13. CVR Refining, has a 12 month low of $6.45 and a 12 month high of $12.55. The company has a market cap of $1.67 billion, a PE ratio of 31.5532 and a beta of 1.28.

CVR Refining, (NYSE:CVRR) last posted its quarterly earnings data on Thursday, July 27th. The oil and gas company reported ($0.13) EPS for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.30). The company had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.23 billion. CVR Refining, had a return on equity of 3.99% and a net margin of 1.02%. The company’s revenue for the quarter was up 14.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.53 EPS. Equities analysts predict that CVR Refining, will post $0.35 earnings per share for the current year.

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Institutional investors and hedge funds have recently bought and sold shares of the business. HighTower Advisors LLC purchased a new stake in CVR Refining, in the 1st quarter valued at about $100,000. Alliancebernstein L.P. purchased a new stake in CVR Refining, in the 1st quarter valued at about $112,000. PNC Financial Services Group Inc. grew its holdings in CVR Refining, by 10.8% in the 1st quarter. PNC Financial Services Group Inc. now owns 20,550 shares of the oil and gas company’s stock valued at $195,000 after buying an additional 2,000 shares during the period. Clinton Group Inc. grew its holdings in CVR Refining, by 58.7% in the 1st quarter. Clinton Group Inc. now owns 27,868 shares of the oil and gas company’s stock valued at $263,000 after buying an additional 10,303 shares during the period. Finally, Stifel Financial Corp grew its holdings in CVR Refining, by 13.5% in the 1st quarter. Stifel Financial Corp now owns 31,157 shares of the oil and gas company’s stock valued at $301,000 after buying an additional 3,716 shares during the period. Institutional investors own 10.98% of the company’s stock.

About CVR Refining,

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.

Analyst Recommendations for CVR Refining, (NYSE:CVRR)

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