CVR Refining LP (NYSE:CVRR) was upgraded by equities research analysts at TheStreet from a “sell” rating to a “hold” rating in a report issued on Thursday.
CVRR has been the subject of a number of other reports. Piper Jaffray Cos. lifted their price target on shares of CVR Refining from $5.00 to $6.00 and gave the stock an “underweight” rating in a report on Friday, September 16th. Zacks Investment Research upgraded shares of CVR Refining from a “strong sell” rating to a “hold” rating in a report on Tuesday. Citigroup Inc. lifted their price target on shares of CVR Refining from $7.00 to $9.00 and gave the stock a “neutral” rating in a report on Wednesday, September 14th. JPMorgan Chase & Co. downgraded shares of CVR Refining from a “neutral” rating to an “underweight” rating and lowered their price target for the stock from $11.00 to $8.00 in a report on Friday, June 10th. Finally, Goldman Sachs Group Inc. reiterated a “sell” rating on shares of CVR Refining in a report on Wednesday, June 29th. Six equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a strong buy rating to the company’s stock. CVR Refining currently has an average rating of “Hold” and an average price target of $10.10.
Shares of CVR Refining (NYSE:CVRR) traded down 1.57% during midday trading on Thursday, reaching $8.80. 273,042 shares of the company traded hands. The stock has a market capitalization of $1.30 billion, a price-to-earnings ratio of 49.16 and a beta of 1.34. CVR Refining has a 12 month low of $5.50 and a 12 month high of $22.74. The company’s 50 day moving average is $8.03 and its 200-day moving average is $8.99.
CVR Refining (NYSE:CVRR) last posted its earnings results on Thursday, July 28th. The company reported $0.53 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.30 by $0.23. The business had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.06 billion. During the same quarter last year, the business posted $1.54 earnings per share. The business’s revenue was down 24.8% compared to the same quarter last year. Equities research analysts forecast that CVR Refining will post $0.27 earnings per share for the current fiscal year.
In other CVR Refining news, Director Carl C. Icahn sold 250,000 shares of CVR Refining stock in a transaction that occurred on Tuesday, August 2nd. The shares were sold at an average price of $5.70, for a total transaction of $1,425,000.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.
A number of hedge funds and other institutional investors have recently made changes to their positions in CVRR. Private Capital Management Inc. boosted its position in shares of CVR Refining by 21.2% in the second quarter. Private Capital Management Inc. now owns 35,150 shares of the company’s stock worth $272,000 after buying an additional 6,150 shares during the period. Accident Compensation Corp boosted its position in CVR Refining by 30.1% in the second quarter. Accident Compensation Corp now owns 86,272 shares of the company’s stock worth $669,000 after buying an additional 19,965 shares during the last quarter. Emerald Acquisition Ltd. purchased a new position in CVR Refining during the second quarter worth approximately $1,183,000. Arrow Investment Advisors LLC boosted its position in CVR Refining by 73.3% in the second quarter. Arrow Investment Advisors LLC now owns 52,641 shares of the company’s stock worth $408,000 after buying an additional 22,260 shares during the last quarter. Finally, Bank of Montreal Can purchased a new position in CVR Refining during the second quarter worth approximately $868,000.
CVR Refining Company Profile
CVR Refining, LP is an independent downstream energy limited partnership. The Company has refining and related logistics assets that operate in the mid-continent region. The Company is a petroleum refiner and it owns approximately two refineries in the underserved Group 3 of the PADD II region of the United States.
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