CVR Refining LP (CVRR) Rating Increased to Hold at TheStreet
CVR Refining LP (NYSE:CVRR) was upgraded by stock analysts at TheStreet from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Thursday.
CVRR has been the subject of several other reports. Piper Jaffray Cos. increased their price objective on CVR Refining from $5.00 to $6.00 and gave the company an “underweight” rating in a report on Friday, September 16th. Zacks Investment Research raised CVR Refining from a “strong sell” rating to a “hold” rating in a report on Tuesday. Citigroup Inc. raised their price target on CVR Refining from $7.00 to $9.00 and gave the stock a “neutral” rating in a report on Wednesday, September 14th. JPMorgan Chase & Co. lowered CVR Refining from a “neutral” rating to an “underweight” rating and cut their price target for the stock from $11.00 to $8.00 in a report on Friday, June 10th. Finally, Goldman Sachs Group Inc. reaffirmed a “sell” rating on shares of CVR Refining in a report on Wednesday, June 29th. Six analysts have rated the stock with a sell rating, four have given a hold rating and one has given a strong buy rating to the company’s stock. CVR Refining currently has an average rating of “Hold” and an average price target of $10.10.
Shares of CVR Refining (NYSE:CVRR) traded down 1.57% during trading on Thursday, reaching $8.80. The company’s stock had a trading volume of 273,042 shares. The stock has a market cap of $1.30 billion, a P/E ratio of 49.16 and a beta of 1.34. CVR Refining has a 12-month low of $5.50 and a 12-month high of $22.74. The stock’s 50-day moving average is $8.03 and its 200-day moving average is $8.99.
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CVR Refining (NYSE:CVRR) last announced its quarterly earnings data on Thursday, July 28th. The company reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.23. The firm had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.06 billion. During the same period last year, the company posted $1.54 earnings per share. CVR Refining’s revenue for the quarter was down 24.8% on a year-over-year basis. Equities research analysts anticipate that CVR Refining will post $0.27 earnings per share for the current fiscal year.
In other CVR Refining news, Director Carl C. Icahn sold 250,000 shares of the firm’s stock in a transaction dated Tuesday, August 2nd. The stock was sold at an average price of $5.70, for a total transaction of $1,425,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.
A number of large investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC increased its stake in CVR Refining by 4.2% in the first quarter. Geode Capital Management LLC now owns 28,310 shares of the company’s stock worth $341,000 after buying an additional 1,147 shares during the last quarter. Groesbeck Investment Management Corp NJ increased its stake in CVR Refining by 0.6% in the first quarter. Groesbeck Investment Management Corp NJ now owns 203,900 shares of the company’s stock worth $2,463,000 after buying an additional 1,200 shares during the last quarter. Stifel Financial Corp increased its stake in CVR Refining by 5.5% in the second quarter. Stifel Financial Corp now owns 26,841 shares of the company’s stock worth $208,000 after buying an additional 1,400 shares during the last quarter. State Street Corp increased its stake in CVR Refining by 4.1% in the first quarter. State Street Corp now owns 47,199 shares of the company’s stock worth $570,000 after buying an additional 1,847 shares during the last quarter. Finally, Eqis Capital Management Inc. increased its stake in CVR Refining by 34.2% in the third quarter. Eqis Capital Management Inc. now owns 13,590 shares of the company’s stock worth $119,000 after buying an additional 3,465 shares during the last quarter.
CVR Refining Company Profile
CVR Refining, LP is an independent downstream energy limited partnership. The Company has refining and related logistics assets that operate in the mid-continent region. The Company is a petroleum refiner and it owns approximately two refineries in the underserved Group 3 of the PADD II region of the United States.
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