CVR Refining, LP (NYSE:CVRR) had its price target dropped by Citigroup Inc. from $11.00 to $10.00 in a research note issued to investors on Monday. The firm presently has a “neutral” rating on the oil and gas company’s stock. Citigroup Inc.’s target price points to a potential upside of 10.50% from the stock’s previous close.
CVRR has been the subject of several other reports. Zacks Investment Research upgraded CVR Refining, from a “sell” rating to a “hold” rating in a research note on Monday, April 10th. ValuEngine upgraded CVR Refining, from a “buy” rating to a “strong-buy” rating in a research note on Friday, July 7th. Credit Suisse Group cut CVR Refining, from an “outperform” rating to a “neutral” rating and set a $10.00 price target for the company. in a research note on Tuesday, June 20th. Finally, BidaskClub upgraded CVR Refining, from a “sell” rating to a “hold” rating in a research note on Saturday, July 1st. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and one has assigned a strong buy rating to the company. CVR Refining, currently has an average rating of “Hold” and a consensus target price of $9.63.
CVR Refining, (NYSE CVRR) remained flat at $9.05 during trading on Monday. The company had a trading volume of 295,208 shares. The firm has a market capitalization of $1.34 billion, a P/E ratio of 8.89 and a beta of 1.33. CVR Refining, has a 1-year low of $5.50 and a 1-year high of $12.55. The company’s 50 day moving average is $9.71 and its 200-day moving average is $10.14.
CVR Refining, (NYSE:CVRR) last issued its quarterly earnings results on Thursday, April 27th. The oil and gas company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.42. The business had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.25 billion. CVR Refining, had a return on equity of 11.43% and a net margin of 2.99%. The firm’s revenue for the quarter was up 70.7% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.46) earnings per share. On average, analysts anticipate that CVR Refining, will post $0.78 earnings per share for the current fiscal year.
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A number of large investors have recently added to or reduced their stakes in CVRR. PNC Financial Services Group Inc. boosted its stake in CVR Refining, by 10.8% in the first quarter. PNC Financial Services Group Inc. now owns 20,550 shares of the oil and gas company’s stock valued at $195,000 after buying an additional 2,000 shares during the last quarter. Stifel Financial Corp boosted its stake in CVR Refining, by 13.5% in the first quarter. Stifel Financial Corp now owns 31,157 shares of the oil and gas company’s stock valued at $301,000 after buying an additional 3,716 shares during the last quarter. Global X Management Co. LLC boosted its stake in CVR Refining, by 8.7% in the first quarter. Global X Management Co. LLC now owns 63,525 shares of the oil and gas company’s stock valued at $600,000 after buying an additional 5,107 shares during the last quarter. Clinton Group Inc. boosted its stake in CVR Refining, by 58.7% in the first quarter. Clinton Group Inc. now owns 27,868 shares of the oil and gas company’s stock valued at $263,000 after buying an additional 10,303 shares during the last quarter. Finally, HighTower Advisors LLC acquired a new stake in CVR Refining, during the first quarter valued at $100,000. Hedge funds and other institutional investors own 11.40% of the company’s stock.
CVR Refining, Company Profile
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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