CVR Refining LP (CVRR) Upgraded to “Hold” at TheStreet
A number of other equities research analysts have also weighed in on the company. Simmons downgraded CVR Refining from a neutral rating to an underweight rating and decreased their target price for the stock from $8.00 to $3.00 in a report on Friday, July 1st. Barclays PLC downgraded CVR Refining from an overweight rating to an underweight rating and decreased their target price for the stock from $8.00 to $6.00 in a report on Thursday, August 4th. Citigroup Inc. lifted their target price on CVR Refining from $7.00 to $9.00 and gave the stock a neutral rating in a report on Wednesday, September 14th. Piper Jaffray Cos. lifted their target price on CVR Refining from $4.00 to $5.00 and gave the stock an underweight rating in a report on Monday, August 22nd. Finally, Zacks Investment Research raised CVR Refining from a strong sell rating to a hold rating in a report on Tuesday, September 20th. Six research analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of Hold and a consensus price target of $10.10.
Shares of CVR Refining (NYSE:CVRR) traded down 1.57% on Thursday, reaching $8.80. 273,042 shares of the company’s stock were exchanged. The company’s 50 day moving average is $8.03 and its 200-day moving average is $8.99. The stock has a market cap of $1.30 billion, a price-to-earnings ratio of 49.16 and a beta of 1.34. CVR Refining has a one year low of $5.50 and a one year high of $22.74.
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CVR Refining (NYSE:CVRR) last released 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 earned $1.16 billion during the quarter, compared to the consensus estimate of $1.06 billion. The business’s revenue was down 24.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.54 earnings per share. On average, analysts anticipate that CVR Refining will post $0.27 EPS for the current year.
In other 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 sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Global X Management Co. LLC increased its position in shares of CVR Refining by 1,825.3% in the second quarter. Global X Management Co. LLC now owns 14,055 shares of the company’s stock valued at $109,000 after buying an additional 13,325 shares during the period. Clinton Group Inc. bought a new position in shares of CVR Refining during the second quarter valued at $116,000. Eqis Capital Management Inc. increased its position in shares of CVR Refining by 34.2% in the third quarter. Eqis Capital Management Inc. now owns 13,590 shares of the company’s stock valued at $119,000 after buying an additional 3,465 shares during the period. A.R.T. Advisors LLC bought a new position in shares of CVR Refining during the second quarter valued at $149,000. Finally, Invictus RG bought a new position in shares of CVR Refining during the first quarter valued at $184,000.
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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