Bank of New York Mellon Corp reduced its position in shares of CVR Refining LP (NYSE:CVRR) by 0.9% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 222,000 shares of the company’s stock after selling 2,000 shares during the period. Bank of New York Mellon Corp owned about 0.15% of CVR Refining worth $1,721,000 at the end of the most recent reporting period.
Other hedge funds have also bought and sold shares of the company. Invictus RG purchased a new position in CVR Refining during the first quarter worth approximately $184,000. Geode Capital Management LLC raised its position in shares of CVR Refining by 4.2% in the first quarter. Geode Capital Management LLC now owns 28,310 shares of the company’s stock worth $341,000 after buying an additional 1,147 shares during the last quarter. State Street Corp raised its position in shares of CVR Refining by 4.1% in the first quarter. State Street Corp now owns 47,199 shares of the company’s stock worth $570,000 after buying an additional 1,847 shares during the last quarter. Arrow Investment Advisors LLC raised its position in shares of 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, Barclays PLC raised its position in shares of CVR Refining by 4.8% in the first quarter. Barclays PLC now owns 78,647 shares of the company’s stock worth $944,000 after buying an additional 3,629 shares during the last quarter.
Shares of CVR Refining LP (NYSE:CVRR) traded down 1.57% during midday trading on Friday, reaching $8.80. 273,042 shares of the company’s stock traded hands. The stock has a 50-day moving average price of $8.03 and a 200-day moving average price of $8.99. The stock has a market cap of $1.30 billion, a P/E ratio of 49.16 and a beta of 1.34. CVR Refining LP has a 52-week low of $5.50 and a 52-week high of $22.74.
CVR Refining (NYSE:CVRR) last posted its quarterly earnings results on Thursday, July 28th. The company reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.23. The company earned $1.16 billion during the quarter, compared to analyst estimates of $1.06 billion. During the same quarter in the previous year, the business posted $1.54 earnings per share. The company’s revenue for the quarter was down 24.8% on a year-over-year basis. Analysts forecast that CVR Refining LP will post $0.27 earnings per share for the current year.
A number of brokerages have recently issued reports on CVRR. Piper Jaffray Cos. upped their target price on shares of CVR Refining from $5.00 to $6.00 and gave the stock an “underweight” rating in a research report on Friday, September 16th. Zacks Investment Research raised shares of CVR Refining from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 20th. TheStreet raised shares of CVR Refining from a “sell” rating to a “hold” rating in a research note on Thursday. Citigroup Inc. boosted their price target on shares of CVR Refining from $7.00 to $9.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 14th. Finally, Wolfe Research started coverage on shares of CVR Refining in a research note on Monday, June 20th. They set a “market perform” rating for the company. Six equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $10.10.
In other news, Director Carl C. Icahn sold 250,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 2nd. The shares were sold at an average price of $5.70, for a total value of $1,425,000.00. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.
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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