CVR Refining, LP (CVRR) Earns “Sell” Rating from Barclays PLC
CVR Refining, LP (NYSE:CVRR)‘s stock had its “sell” rating reiterated by investment analysts at Barclays PLC in a research report issued to clients and investors on Wednesday. They currently have a $10.00 price target on the stock. Barclays PLC’s price objective indicates a potential downside of 9.09% from the company’s previous close.
Other analysts also recently issued reports about the stock. Credit Suisse Group upgraded shares of CVR Refining, from an “underperform” rating to a “neutral” rating and boosted their target price for the stock from $7.00 to $9.00 in a report on Thursday, November 10th. Zacks Investment Research upgraded shares of CVR Refining, from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 20th. TheStreet upgraded shares of CVR Refining, from a “sell” rating to a “hold” rating in a report on Thursday, October 6th. Piper Jaffray Companies upgraded shares of CVR Refining, from an “underweight” rating to a “neutral” rating and boosted their target price for the stock from $6.00 to $7.00 in a report on Friday, November 18th. Finally, J P Morgan Chase & Co upgraded shares of CVR Refining, from a “neutral” rating to an “overweight” rating and set a $10.00 target price on the stock in a report on Wednesday, December 7th. Five investment analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $9.13.
CVR Refining, (NYSE:CVRR) traded up 3.18% during trading on Wednesday, reaching $11.35. 608,524 shares of the company were exchanged. CVR Refining, has a 1-year low of $5.50 and a 1-year high of $19.97. The stock’s market capitalization is $1.68 billion. The company’s 50-day moving average price is $9.63 and its 200-day moving average price is $8.04.
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CVR Refining, (NYSE:CVRR) last announced its quarterly earnings results on Thursday, October 27th. The company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.27 by $0.16. The company earned $1.16 billion during the quarter, compared to the consensus estimate of $1.16 billion. CVR Refining, had a negative net margin of 2.34% and a negative return on equity of 7.55%. The business’s revenue was down 14.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.94 earnings per share. On average, equities analysts forecast that CVR Refining, will post $0.17 EPS for the current year.
Institutional investors have recently added to or reduced their stakes in the company. LPL Financial LLC boosted its position in CVR Refining, by 88.6% in the third quarter. LPL Financial LLC now owns 86,205 shares of the company’s stock worth $763,000 after buying an additional 40,488 shares in the last quarter. Clinton Group Inc. boosted its position in CVR Refining, by 296.5% in the third quarter. Clinton Group Inc. now owns 59,509 shares of the company’s stock worth $522,000 after buying an additional 44,502 shares in the last quarter. KCG Holdings Inc. purchased a new position in CVR Refining, during the third quarter worth approximately $190,000. Global X Management Co. LLC boosted its position in CVR Refining, by 28.6% in the third quarter. Global X Management Co. LLC now owns 18,076 shares of the company’s stock worth $159,000 after buying an additional 4,021 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its position in CVR Refining, by 16.5% in the third quarter. PNC Financial Services Group Inc. now owns 14,100 shares of the company’s stock worth $124,000 after buying an additional 2,000 shares in the last quarter. 9.35% of the stock is owned by hedge funds and other institutional investors.
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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