BidaskClub downgraded shares of CVR Refining, LP (NYSE:CVRR) from a sell rating to a strong sell rating in a research report released on Sunday, August 6th.
A number of other equities analysts also recently commented on CVRR. UBS AG restated a neutral rating and issued a $8.50 target price (down from $10.00) on shares of CVR Refining, in a research note on Wednesday, August 2nd. Citigroup Inc. restated a neutral rating and issued a $8.00 target price on shares of CVR Refining, in a research note on Wednesday, August 2nd. Zacks Investment Research downgraded shares of CVR Refining, from a hold rating to a sell rating in a research note on Tuesday, July 11th. ValuEngine upgraded shares of CVR Refining, from a hold rating to a buy rating in a research note on Tuesday, June 13th. Finally, Credit Suisse Group downgraded shares of CVR Refining, from an outperform rating to a neutral rating and set a $10.00 target price on the stock. in a research note on Tuesday, June 20th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average target price of $9.56.
CVR Refining, (CVRR) traded up 4.23% during mid-day trading on Friday, reaching $7.40. The company’s stock had a trading volume of 239,227 shares. CVR Refining, has a one year low of $6.25 and a one year high of $12.55. The stock has a market cap of $1.09 billion, a P/E ratio of 20.61 and a beta of 1.28. The firm’s 50 day moving average is $8.34 and its 200-day moving average is $9.57.
CVR Refining, (NYSE:CVRR) last issued its earnings results on Thursday, July 27th. The oil and gas company reported ($0.13) EPS for the quarter, missing the Zacks’ consensus estimate of $0.17 by $0.30. The company had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.23 billion. CVR Refining, had a return on equity of 3.99% and a net margin of 1.02%. CVR Refining,’s revenue was up 14.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.53 earnings per share. Equities analysts expect that CVR Refining, will post $0.14 earnings per share for the current fiscal year.
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Several institutional investors have recently added to or reduced their stakes in the stock. HighTower Advisors LLC acquired a new position in CVR Refining, during the first quarter worth about $100,000. Alliancebernstein L.P. acquired a new position in CVR Refining, during the first quarter worth about $112,000. PNC Financial Services Group Inc. increased its position in CVR Refining, by 10.8% in the first quarter. PNC Financial Services Group Inc. now owns 20,550 shares of the oil and gas company’s stock worth $195,000 after buying an additional 2,000 shares in the last quarter. Airain ltd acquired a new position in CVR Refining, during the first quarter worth about $196,000. Finally, Clinton Group Inc. increased its position in CVR Refining, by 58.7% in the first quarter. Clinton Group Inc. now owns 27,868 shares of the oil and gas company’s stock worth $263,000 after buying an additional 10,303 shares in the last quarter. Hedge funds and other institutional investors own 12.18% of the company’s stock.
CVR Refining, Company Profile
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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