CVR Refining, LP (NYSE:CVRR) Receives “Neutral” Rating from UBS AG
CVR Refining, LP (NYSE:CVRR)‘s stock had its “neutral” rating reissued by equities research analysts at UBS AG in a report released on Tuesday, www.flashratings.com reports. They presently have a $8.50 price objective on the oil and gas company’s stock, down from their previous price objective of $10.00. UBS AG’s price objective suggests a potential upside of 17.24% from the company’s current price.
Several other research analysts have also issued reports on the company. BidaskClub lowered CVR Refining, from a “sell” rating to a “strong sell” rating in a research report on Sunday. Citigroup Inc. reissued a “neutral” rating and issued a $8.00 target price on shares of CVR Refining, in a research report on Wednesday, August 2nd. Zacks Investment Research lowered CVR Refining, from a “hold” rating to a “sell” rating in a research report on Tuesday, July 11th. ValuEngine raised CVR Refining, from a “buy” rating to a “strong-buy” rating in a research report on Friday, July 7th. Finally, 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 report on Tuesday, June 20th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a strong buy rating to the company. CVR Refining, presently has a consensus rating of “Hold” and an average price target of $9.56.
CVR Refining, (NYSE:CVRR) traded down 0.68% during midday trading on Tuesday, hitting $7.25. The stock had a trading volume of 728,549 shares. CVR Refining, has a 12 month low of $5.75 and a 12 month high of $12.55. The company has a market cap of $1.07 billion, a P/E ratio of 20.19 and a beta of 1.28. The firm’s 50-day moving average price is $8.97 and its 200 day moving average price is $9.88.
CVR Refining, (NYSE:CVRR) last announced its earnings results on Thursday, July 27th. The oil and gas company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by $0.30. CVR Refining, had a return on equity of 3.99% and a net margin of 1.02%. The firm had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.23 billion. During the same period in the prior year, the company posted $0.53 EPS. The firm’s revenue was up 14.9% on a year-over-year basis. On average, analysts expect that CVR Refining, will post $0.14 earnings per share for the current fiscal year.
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A number of hedge funds and other institutional investors have recently bought and sold shares of CVRR. HITE Hedge Asset Management LLC bought a new position in CVR Refining, during the second quarter worth $9,916,000. Parkwood LLC raised its stake in CVR Refining, by 61.1% in the second quarter. Parkwood LLC now owns 141,000 shares of the oil and gas company’s stock worth $1,340,000 after buying an additional 53,487 shares during the last quarter. Acadian Asset Management LLC raised its stake in CVR Refining, by 389.1% in the second quarter. Acadian Asset Management LLC now owns 572,644 shares of the oil and gas company’s stock worth $5,442,000 after buying an additional 455,572 shares during the last quarter. Russell Investments Group Ltd. acquired a new stake in CVR Refining, during the second quarter worth approximately $570,000. Finally, Bank of Montreal Can acquired a new stake in CVR Refining, during the second quarter worth approximately $766,000. 11.55% of the stock is owned by 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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