CVR Refining, LP (CVRR) Stock Rating Lowered by BidaskClub
CVR Refining, LP (NYSE:CVRR) was downgraded by analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Thursday.
Several other equities research analysts have also recently commented on the company. Zacks Investment Research cut CVR Refining, from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th. ValuEngine cut CVR Refining, from a “buy” rating to a “hold” rating in a research note on Monday, September 11th. UBS AG restated a “neutral” rating and set a $8.50 price target (down previously from $10.00) on shares of CVR Refining, in a research note on Tuesday, August 8th. Citigroup Inc. cut their price target on CVR Refining, from $11.00 to $10.00 and set a “neutral” rating for the company in a research note on Monday, July 17th. Finally, Tudor Pickering upgraded CVR Refining, from a “hold” rating to a “buy” rating in a research note on Monday, October 9th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company’s stock. CVR Refining, presently has an average rating of “Hold” and a consensus price target of $10.00.
CVR Refining, (NYSE:CVRR) traded up 0.47% during trading on Thursday, reaching $10.80. 713,415 shares of the company’s stock were exchanged. CVR Refining, has a 52 week low of $6.45 and a 52 week high of $12.55. The stock has a market capitalization of $1.59 billion, a PE ratio of 30.08 and a beta of 1.28. The stock has a 50-day moving average of $9.77 and a 200-day moving average of $9.22.
CVR Refining, (NYSE:CVRR) last issued its quarterly earnings data on Thursday, July 27th. The oil and gas company reported ($0.13) earnings per share for the quarter, missing the Zacks’ 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 firm had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.23 billion. During the same quarter in the prior year, the firm posted $0.53 EPS. CVR Refining,’s quarterly revenue was up 14.9% compared to the same quarter last year. On average, equities research analysts anticipate that CVR Refining, will post $0.71 EPS for the current year.
A number of large investors have recently added to or reduced their stakes in CVRR. Wells Fargo & Company MN raised its position in CVR Refining, by 17.7% in the first quarter. Wells Fargo & Company MN now owns 75,257 shares of the oil and gas company’s stock worth $711,000 after acquiring an additional 11,343 shares in the last quarter. First Trust Advisors LP purchased a new position in CVR Refining, in the first quarter worth $487,000. Stifel Financial Corp raised its position 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 acquiring an additional 3,716 shares in the last quarter. Alliancebernstein L.P. purchased a new position in CVR Refining, in the first quarter worth $112,000. Finally, Wellington Management Group LLP purchased a new position in CVR Refining, in the first quarter worth $2,745,000. Hedge funds and other institutional investors own 10.98% of the company’s stock.
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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