CVR Refining, LP (CVRR) Cut to “Sell” at BidaskClub
CVR Refining, LP (NYSE:CVRR) was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating in a research report issued on Thursday.
Several other analysts have also issued reports on the company. Credit Suisse Group lowered CVR Refining, from an “outperform” rating to a “neutral” rating and set a $10.00 target price for the company. in a research note on Tuesday. ValuEngine raised CVR Refining, from a “hold” rating to a “buy” rating in a research note on Tuesday, June 13th. Citigroup Inc. upped their target price on CVR Refining, from $10.00 to $11.00 and gave the stock a “neutral” rating in a research note on Thursday, May 25th. Zacks Investment Research raised CVR Refining, from a “sell” rating to a “hold” rating in a research note on Friday, April 28th. Finally, J P Morgan Chase & Co lowered CVR Refining, from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $12.50 to $11.00 in a research note on Thursday, March 9th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company’s stock. CVR Refining, currently has an average rating of “Hold” and an average target price of $9.25.
CVR Refining, (NYSE:CVRR) traded up 2.22% during midday trading on Thursday, reaching $9.20. 207,912 shares of the company traded hands. The company has a market capitalization of $1.36 billion, a price-to-earnings ratio of 9.04 and a beta of 1.33. The stock’s 50 day moving average is $9.92 and its 200 day moving average is $10.16. CVR Refining, has a one year low of $5.50 and a one year high of $12.55.
CVR Refining, (NYSE:CVRR) last issued its earnings results on Thursday, April 27th. The oil and gas company reported $0.45 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.03 by $0.42. The business had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.25 billion. CVR Refining, had a return on equity of 11.43% and a net margin of 2.99%. CVR Refining,’s revenue for the quarter was up 70.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.46) earnings per share. On average, equities analysts anticipate that CVR Refining, will post $1.01 earnings per share for the current year.
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Several hedge funds have recently added to or reduced their stakes in the stock. Stifel Financial Corp raised its stake in CVR Refining, by 13.5% in the first quarter. Stifel Financial Corp now owns 31,157 shares of the oil and gas company’s stock worth $301,000 after buying an additional 3,716 shares during the period. Airain ltd acquired a new position in shares of CVR Refining, during the first quarter worth approximately $196,000. Parkwood LLC acquired a new position in shares of CVR Refining, during the first quarter worth approximately $827,000. BNP Paribas Arbitrage SA increased its position in shares of CVR Refining, by 63.0% in the first quarter. BNP Paribas Arbitrage SA now owns 79,192 shares of the oil and gas company’s stock worth $748,000 after buying an additional 30,602 shares in the last quarter. Finally, Grisanti Capital Management LLC acquired a new position in shares of CVR Refining, during the first quarter worth approximately $749,000. 11.34% of the stock is owned by hedge funds and other institutional investors.
About CVR Refining,
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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