CVR Refining, LP (CVRR) Downgraded by BidaskClub to Strong Sell

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.

COPYRIGHT VIOLATION WARNING: “CVR Refining, LP (CVRR) Downgraded by BidaskClub to Strong Sell” was originally reported by BNB Daily and is the property of of BNB Daily. If you are reading this piece of content on another website, it was copied illegally and republished in violation of U.S. & international copyright and trademark law. The original version of this piece of content can be viewed at https://www.baseball-news-blog.com/2017/08/19/cvr-refining-lp-cvrr-downgraded-by-bidaskclub-updated.html.

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.

Analyst Recommendations for CVR Refining, (NYSE:CVRR)

Receive News & Ratings for CVR Refining LP Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CVR Refining LP and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply