CVR Refining, LP (CVRR) Upgraded to “Equal Weight” at Barclays PLC
CVR Refining, LP (NYSE:CVRR) was upgraded by Barclays PLC from an “underweight” rating to an “equal weight” rating in a research report issued on Tuesday. The firm presently has a $14.00 price target on the oil and gas company’s stock. Barclays PLC’s price objective indicates a potential upside of 17.65% from the stock’s current price.
Several other brokerages also recently issued reports on CVRR. BidaskClub raised shares of CVR Refining, from a “hold” rating to a “buy” rating in a research report on Saturday, November 4th. ValuEngine raised shares of CVR Refining, from a “hold” rating to a “buy” rating in a research report on Wednesday, October 11th. Citigroup Inc. increased their price objective on shares of CVR Refining, from $8.00 to $10.50 and gave the company a “neutral” rating in a research report on Wednesday, October 18th. Zacks Investment Research downgraded shares of CVR Refining, from a “buy” rating to a “hold” rating in a research report on Friday, October 6th. Finally, Tudor Pickering raised shares of CVR Refining, from a “hold” rating to a “buy” rating in a research report on Monday, October 9th. Eight investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. CVR Refining, currently has an average rating of “Hold” and an average target price of $10.38.
Shares of CVR Refining, (CVRR) traded up $0.05 during trading hours on Tuesday, reaching $11.90. 245,196 shares of the company’s stock traded hands, compared to its average volume of 458,825. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.86 and a quick ratio of 1.34. CVR Refining, has a one year low of $6.70 and a one year high of $13.21. The firm has a market capitalization of $1,815.48, a P/E ratio of 17.08 and a beta of 1.32.
CVR Refining, (NYSE:CVRR) last issued its quarterly earnings data on Wednesday, November 1st. The oil and gas company reported $0.47 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.23 by $0.24. CVR Refining, had a net margin of 1.98% and a return on equity of 7.90%. The company had revenue of $1.39 billion during the quarter, compared to the consensus estimate of $1.20 billion. During the same quarter last year, the company earned $0.11 earnings per share. CVR Refining,’s revenue for the quarter was up 19.1% on a year-over-year basis. equities research analysts anticipate that CVR Refining, will post 1.53 EPS for the current year.
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Hedge funds have recently added to or reduced their stakes in the company. HighTower Advisors LLC acquired a new stake in shares of CVR Refining, during the first quarter worth approximately $100,000. Alliancebernstein L.P. acquired a new position in CVR Refining, in the first quarter worth $112,000. Hotchkis & Wiley Capital Management LLC acquired a new position in CVR Refining, in the third quarter worth $185,000. PNC Financial Services Group Inc. boosted its holdings in CVR Refining, by 10.8% in 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 purchasing an additional 2,000 shares during the period. Finally, Stifel Financial Corp boosted its holdings in CVR Refining, by 26.8% in the second quarter. Stifel Financial Corp now owns 39,499 shares of the oil and gas company’s stock worth $385,000 after purchasing an additional 8,342 shares during the period. 10.78% of the stock is owned by institutional investors and hedge funds.
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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