CVR Refining, LP (CVRR) Upgraded at ValuEngine
CVR Refining, LP (NYSE:CVRR) was upgraded by equities researchers at ValuEngine from a “hold” rating to a “buy” rating in a report issued on Tuesday.
Other analysts also recently issued reports about the company. Zacks Investment Research downgraded CVR Refining, from a “hold” rating to a “sell” rating in a research report on Thursday, March 30th. Citigroup Inc. boosted their target price on CVR Refining, from $10.00 to $11.00 and gave the stock a “neutral” rating in a research report on Thursday, May 25th. TheStreet upgraded CVR Refining, from a “d+” rating to a “c-” rating in a research report on Thursday, February 16th. Finally, J P Morgan Chase & Co downgraded CVR Refining, from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $12.50 to $11.00 in a research report on Thursday, March 9th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $10.25.
CVR Refining, (CVRR) traded up 1.52% during midday trading on Tuesday, reaching $10.00. The company’s stock had a trading volume of 337,686 shares. The stock has a market cap of $1.48 billion, a P/E ratio of 9.82 and a beta of 1.33. CVR Refining, has a 12-month low of $5.50 and a 12-month high of $12.55. The stock’s 50 day moving average is $9.95 and its 200 day moving average is $10.11.
CVR Refining, (NYSE:CVRR) last announced its earnings results on Thursday, April 27th. The oil and gas company reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.42. CVR Refining, had a return on equity of 11.43% and a net margin of 2.99%. The company had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.25 billion. During the same period last year, the business posted ($0.46) EPS. The company’s revenue was up 70.7% on a year-over-year basis. Analysts anticipate that CVR Refining, will post $1.06 earnings per share for the current year.
A number of institutional investors have recently added to or reduced their stakes in CVRR. Morgan Stanley raised its position in CVR Refining, by 36.1% in the first quarter. Morgan Stanley now owns 2,004,627 shares of the oil and gas company’s stock valued at $18,945,000 after buying an additional 531,355 shares during the last quarter. Bank of America Corp DE raised its position in CVR Refining, by 39.1% in the first quarter. Bank of America Corp DE now owns 1,131,430 shares of the oil and gas company’s stock valued at $10,692,000 after buying an additional 318,126 shares during the last quarter. ING Groep NV acquired a new position in CVR Refining, during the first quarter valued at approximately $3,391,000. Wellington Management Group LLP acquired a new position in CVR Refining, during the first quarter valued at approximately $2,745,000. Finally, Renaissance Technologies LLC acquired a new position in CVR Refining, during the fourth quarter valued at approximately $2,440,000. Hedge funds and other institutional investors own 11.36% 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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