CVR Refining, LP (CVRR) Rating Increased to Hold at BidaskClub
CVR Refining, LP (NYSE:CVRR) was upgraded by research analysts at BidaskClub from a “sell” rating to a “hold” rating in a research note issued to investors on Saturday.
Several other equities analysts also recently weighed in on the stock. ValuEngine upgraded shares of CVR Refining, from a “buy” rating to a “strong-buy” rating in a report on Friday, July 7th. Credit Suisse Group downgraded shares of CVR Refining, from an “outperform” rating to a “neutral” rating and set a $10.00 target price for the company. in a report on Tuesday, June 20th. Citigroup Inc. raised their target price on shares of CVR Refining, from $10.00 to $11.00 and gave the company a “neutral” rating in a report on Thursday, May 25th. Zacks Investment Research downgraded shares of CVR Refining, from a “hold” rating to a “sell” rating in a report on Wednesday, July 5th. Finally, UBS AG restated a “neutral” rating and set a $8.50 target price (down from $10.00) on shares of CVR Refining, in a report on Wednesday, August 2nd. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $9.56.
CVR Refining, (NYSE:CVRR) traded up 4.14% during mid-day trading on Friday, hitting $8.80. 440,558 shares of the stock were exchanged. The company has a market cap of $1.30 billion, a P/E ratio of 24.51 and a beta of 1.25. The company has a 50-day moving average price of $7.83 and a 200-day moving average price of $9.29. CVR Refining, has a one year low of $6.45 and a one year high of $12.55.
CVR Refining, (NYSE:CVRR) last posted its earnings results on Thursday, July 27th. The oil and gas company reported ($0.13) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.17 by $0.30. CVR Refining, had a net margin of 1.02% and a return on equity of 3.99%. The business had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.23 billion. During the same quarter last year, the business posted $0.53 earnings per share. The business’s revenue was up 14.9% compared to the same quarter last year. Analysts forecast that CVR Refining, will post $0.25 earnings per share for the current fiscal year.
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Several hedge funds and other institutional investors have recently modified their holdings of CVRR. HITE Hedge Asset Management LLC purchased a new stake in shares of CVR Refining, during the second quarter worth about $9,916,000. Arrowstreet Capital Limited Partnership purchased a new stake in shares of CVR Refining, during the second quarter worth about $8,935,000. Artemis Investment Management LLP purchased a new stake in shares of CVR Refining, during the second quarter worth about $5,897,000. JPMorgan Chase & Co. grew its holdings in shares of CVR Refining, by 15,870.2% during the second quarter. JPMorgan Chase & Co. now owns 540,433 shares of the oil and gas company’s stock worth $5,135,000 after buying an additional 537,049 shares in the last quarter. Finally, Morgan Stanley grew its holdings in shares of CVR Refining, by 36.1% during the first quarter. Morgan Stanley now owns 2,004,627 shares of the oil and gas company’s stock worth $18,945,000 after buying an additional 531,355 shares in the last quarter. Institutional investors and hedge funds own 10.98% 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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