CVR Refining, LP (NYSE:CVRR) has earned an average rating of “Hold” from the eleven research firms that are covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $11.83.
Several research firms recently issued reports on CVRR. Barclays reissued a “hold” rating and set a $17.00 target price on shares of CVR Refining in a research note on Wednesday, January 10th. Zacks Investment Research raised CVR Refining from a “hold” rating to a “buy” rating and set a $11.00 target price on the stock in a research note on Wednesday, October 4th. BidaskClub raised CVR Refining from a “hold” rating to a “buy” rating in a research note on Thursday, September 28th. ValuEngine raised CVR Refining from a “hold” rating to a “buy” rating in a research note on Wednesday, October 11th. Finally, UBS Group lowered CVR Refining from a “neutral” rating to a “sell” rating and increased their target price for the stock from $8.50 to $10.50 in a research note on Wednesday, November 15th.
Hedge funds and other institutional investors have recently modified their holdings of the business. BNP Paribas Arbitrage SA increased its holdings in CVR Refining by 135.9% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 186,813 shares of the oil and gas company’s stock worth $1,840,000 after purchasing an additional 107,620 shares during the period. HITE Hedge Asset Management LLC increased its holdings in shares of CVR Refining by 22.3% in the 3rd quarter. HITE Hedge Asset Management LLC now owns 1,276,154 shares of the oil and gas company’s stock valued at $12,570,000 after acquiring an additional 232,347 shares during the last quarter. GSA Capital Partners LLP increased its holdings in shares of CVR Refining by 73.9% in the 3rd quarter. GSA Capital Partners LLP now owns 80,430 shares of the oil and gas company’s stock valued at $792,000 after acquiring an additional 34,171 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new position in shares of CVR Refining in the 2nd quarter valued at about $8,935,000. Finally, JPMorgan Chase & Co. increased its holdings in shares of CVR Refining by 40.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 758,593 shares of the oil and gas company’s stock valued at $7,510,000 after acquiring an additional 218,160 shares during the last quarter. Institutional investors own 12.78% of the company’s stock.
CVR Refining (NYSE:CVRR) last announced its quarterly earnings results on Wednesday, November 1st. The oil and gas company reported $0.47 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.23 by $0.24. CVR Refining had a return on equity of 7.90% and a net margin of 1.98%. The business had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.20 billion. During the same quarter in the prior year, the company posted $0.11 EPS. The company’s quarterly revenue was up 19.1% on a year-over-year basis. sell-side analysts expect that CVR Refining will post 1.39 earnings per share for the current 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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