CVR Refining (CVRR) Downgraded by Zacks Investment Research to Hold

CVR Refining (NYSE:CVRR) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a report released on Tuesday.

According to Zacks, “CVR Refining, LP is engaged in the refining of petroleum primarily in the United States. It has refining and related logistics assets that operate in the mid-continent region. The company operates in Coffeyville, Kansas, Wynnewood and Oklahoma. CVR Refining, LP is headquartered in Sugar Land, Texas. “

A number of other research firms also recently weighed in on CVRR. ValuEngine raised shares of CVR Refining from a “buy” rating to a “strong-buy” rating in a research note on Friday, February 2nd. Barclays boosted their price target on shares of CVR Refining from $10.00 to $13.00 and gave the stock an “underweight” rating in a research note on Thursday, November 2nd. Citigroup boosted their price target on shares of CVR Refining from $13.00 to $16.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 24th. BidaskClub downgraded shares of CVR Refining from a “strong-buy” rating to a “buy” rating in a research note on Thursday, October 19th. Finally, UBS Group downgraded shares of CVR Refining from a “neutral” rating to a “sell” rating and boosted their price target for the stock from $8.50 to $10.50 in a research note on Wednesday, November 15th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Hold” and an average target price of $12.58.

Shares of CVR Refining (NYSE CVRR) traded down $0.35 during midday trading on Tuesday, hitting $14.75. 1,144,984 shares of the company’s stock were exchanged, compared to its average volume of 588,117. CVR Refining has a one year low of $6.70 and a one year high of $18.25. The company has a market capitalization of $2,180.00, a P/E ratio of 20.21 and a beta of 1.31. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.34 and a current ratio of 1.86.

Several institutional investors and hedge funds have recently bought and sold shares of CVRR. Alliancebernstein L.P. raised its stake in shares of CVR Refining by 14.4% during the second quarter. Alliancebernstein L.P. now owns 13,515 shares of the oil and gas company’s stock worth $128,000 after buying an additional 1,705 shares during the last quarter. Ameriprise Financial Inc. raised its stake in shares of CVR Refining by 1.9% during the second quarter. Ameriprise Financial Inc. now owns 58,550 shares of the oil and gas company’s stock worth $556,000 after buying an additional 1,100 shares during the last quarter. California Public Employees Retirement System increased its stake in CVR Refining by 3.3% in the second quarter. California Public Employees Retirement System now owns 100,400 shares of the oil and gas company’s stock valued at $954,000 after purchasing an additional 3,200 shares in the last quarter. Stifel Financial Corp increased its stake 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 valued at $385,000 after purchasing an additional 8,342 shares in the last quarter. Finally, BNP Paribas Arbitrage SA increased its stake in CVR Refining by 135.9% in the third quarter. BNP Paribas Arbitrage SA now owns 186,813 shares of the oil and gas company’s stock valued at $1,840,000 after purchasing an additional 107,620 shares in the last quarter. 13.52% of the stock is owned by institutional investors and hedge funds.

TRADEMARK VIOLATION NOTICE: This article was posted by American Banking News and is the property of of American Banking News. If you are reading this article on another site, it was illegally copied and republished in violation of U.S. and international copyright & trademark laws. The original version of this article can be viewed at https://www.americanbankingnews.com/2018/02/13/cvr-refining-cvrr-downgraded-by-zacks-investment-research-to-hold.html.

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.

Get a free copy of the Zacks research report on CVR Refining (CVRR)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for CVR Refining (NYSE:CVRR)

Receive News & Ratings for CVR Refining Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CVR Refining and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply