CVR Refining, LP (CVRR) Given Average Recommendation of “Hold” by Analysts
CVR Refining, LP (NYSE:CVRR) has earned a consensus recommendation of “Hold” from the eleven ratings firms that are presently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating and nine have assigned a hold rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is $9.50.
CVRR has been the topic of a number of research analyst reports. BidaskClub downgraded CVR Refining, from a “sell” rating to a “strong sell” rating in a research report on Sunday, August 6th. Zacks Investment Research upgraded CVR Refining, from a “strong sell” rating to a “hold” rating in a research report on Tuesday, September 12th. ValuEngine upgraded CVR Refining, from a “buy” rating to a “strong-buy” rating in a research report on Friday, July 7th. Credit Suisse Group downgraded CVR Refining, from an “outperform” rating to a “neutral” rating and set a $10.00 target price on the stock. in a research report on Tuesday, June 20th. Finally, Citigroup Inc. reiterated a “neutral” rating and issued a $8.00 target price on shares of CVR Refining, in a research report on Wednesday, August 2nd.
Hedge funds and other institutional investors have recently modified their holdings of the business. HighTower Advisors LLC bought a new stake in CVR Refining, during the first quarter worth approximately $100,000. Alliancebernstein L.P. bought a new stake in CVR Refining, during the first quarter worth approximately $112,000. PNC Financial Services Group Inc. increased its stake in CVR Refining, by 10.8% during the first quarter. PNC Financial Services Group Inc. now owns 20,550 shares of the oil and gas company’s stock worth $195,000 after acquiring an additional 2,000 shares during the last quarter. Airain ltd bought a new stake in CVR Refining, during the first quarter worth approximately $196,000. Finally, Clinton Group Inc. increased its stake in CVR Refining, by 58.7% during the first quarter. Clinton Group Inc. now owns 27,868 shares of the oil and gas company’s stock worth $263,000 after acquiring an additional 10,303 shares during the last quarter. 10.96% of the stock is currently owned by institutional investors.
CVR Refining, (NYSE:CVRR) opened at 9.05 on Wednesday. The stock’s 50 day moving average price is $7.90 and its 200 day moving average price is $9.16. CVR Refining, has a 12 month low of $6.45 and a 12 month high of $12.55. The company has a market capitalization of $1.34 billion, a price-to-earnings ratio of 25.21 and a beta of 1.25.
CVR Refining, (NYSE:CVRR) last posted its earnings results on Thursday, July 27th. The oil and gas company reported ($0.13) EPS for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.30). The firm had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.23 billion. CVR Refining, had a return on equity of 3.99% and a net margin of 1.02%. CVR Refining,’s quarterly revenue was up 14.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.53 earnings per share. Equities research analysts anticipate that CVR Refining, will post $0.25 earnings per share for the current fiscal year.
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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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