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.
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