CVR Refining, LP (NYSE:CVRR) Price Target Cut to $10.00 by Analysts at Citigroup Inc.

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.

Analyst Recommendations for CVR Refining, (NYSE:CVRR)

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