CVR Refining LP (NYSE:CVRR) has been given an average rating of “Hold” by the eleven research firms that are currently covering the company. Six research analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $9.49.
A number of research firms have recently issued reports on CVRR. TheStreet upgraded shares of CVR Refining from a “sell” rating to a “hold” rating in a research note on Thursday, October 6th. Simmons lowered shares of CVR Refining from a “neutral” rating to an “underweight” rating and dropped their price objective for the company from $8.00 to $3.00 in a research note on Friday, July 1st. Barclays PLC lowered shares of CVR Refining from an “overweight” rating to an “underweight” rating and dropped their price objective for the company from $8.00 to $6.00 in a research note on Thursday, August 4th. Citigroup Inc. lifted their price objective on shares of CVR Refining from $7.00 to $9.00 and gave the company a “neutral” rating in a research note on Wednesday, September 14th. Finally, Piper Jaffray Cos. lifted their price objective on shares of CVR Refining from $4.00 to $5.00 and gave the company an “underweight” rating in a research note on Monday, August 22nd.
In other CVR Refining news, Director Carl C. Icahn sold 250,000 shares of CVR Refining stock in a transaction 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 Securities & Exchange Commission, which is accessible through this link.
Several institutional investors have recently made changes to their positions in CVRR. Global X Management Co. LLC increased its position in shares of CVR Refining by 1,825.3% in the second quarter. Global X Management Co. LLC now owns 14,055 shares of the company’s stock valued at $109,000 after buying an additional 13,325 shares during the period. Clinton Group Inc. purchased a new position in shares of CVR Refining during the second quarter valued at about $116,000. Eqis Capital Management Inc. increased its position in shares of CVR Refining by 34.2% in the third quarter. Eqis Capital Management Inc. now owns 13,590 shares of the company’s stock valued at $119,000 after buying an additional 3,465 shares during the period. A.R.T. Advisors LLC purchased a new position in shares of CVR Refining during the second quarter valued at about $149,000. Finally, Invictus RG purchased a new position in shares of CVR Refining during the first quarter valued at about $184,000.
Shares of CVR Refining (NYSE:CVRR) traded down 0.9343% on Wednesday, hitting $8.7475. 113,845 shares of the stock traded hands. CVR Refining has a 12-month low of $5.50 and a 12-month high of $22.74. The firm’s 50-day moving average is $8.17 and its 200 day moving average is $8.91. The firm has a market cap of $1.29 billion, a P/E ratio of 48.8687 and a beta of 1.34.
CVR Refining (NYSE:CVRR) last posted its quarterly earnings data on Thursday, July 28th. The company reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.23. The firm had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.06 billion. The company’s revenue for the quarter was down 24.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.54 EPS. Equities research analysts forecast that CVR Refining will post $0.27 EPS for the current fiscal year.
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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