CVR Refining, LP (CVRR) Lifted to “Strong-Buy” at BidaskClub

CVR Refining, LP (NYSE:CVRR) was upgraded by equities research analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Friday.

Several other research analysts have also recently issued reports on the stock. ValuEngine upgraded shares of CVR Refining, from a “buy” rating to a “strong-buy” rating in a report on Friday, July 7th. Credit Suisse Group cut shares of CVR Refining, from an “outperform” rating to a “neutral” rating and set a $10.00 target price for the company. in a report on Tuesday, June 20th. Zacks Investment Research cut shares of CVR Refining, from a “hold” rating to a “sell” rating in a report on Wednesday, July 5th. Citigroup Inc. lowered their target price on shares of CVR Refining, from $11.00 to $10.00 and set a “neutral” rating for the company in a report on Monday, July 17th. Finally, Tudor Pickering upgraded shares of CVR Refining, from a “hold” rating to a “buy” rating in a report on Monday. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. CVR Refining, currently has a consensus rating of “Hold” and a consensus price target of $9.69.

Shares of CVR Refining, (CVRR) opened at 11.35 on Friday. The firm has a market capitalization of $1.68 billion, a P/E ratio of 31.62 and a beta of 1.28. CVR Refining, has a 52 week low of $6.45 and a 52 week high of $12.55. The firm has a 50-day moving average of $9.24 and a 200 day moving average of $9.14.

CVR Refining, (NYSE:CVRR) last issued its earnings results on Thursday, July 27th. The oil and gas company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.30). CVR Refining, had a net margin of 1.02% and a return on equity of 3.99%. The company had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.23 billion. During the same quarter in the previous year, the company posted $0.53 EPS. The company’s quarterly revenue was up 14.9% on a year-over-year basis. On average, equities research analysts expect that CVR Refining, will post $0.56 EPS for the current fiscal year.

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Hedge funds have recently added to or reduced their stakes in the stock. Artemis Investment Management LLP purchased a new stake in CVR Refining, in the 2nd quarter valued at $5,897,000. PNC Financial Services Group Inc. raised its position in CVR Refining, by 10.8% in the 1st quarter. PNC Financial Services Group Inc. now owns 20,550 shares of the oil and gas company’s stock valued at $195,000 after purchasing an additional 2,000 shares during the last quarter. Morgan Stanley raised its position in CVR Refining, by 36.1% in the 1st quarter. Morgan Stanley now owns 2,004,627 shares of the oil and gas company’s stock valued at $18,945,000 after purchasing an additional 531,355 shares during the last quarter. Parkwood LLC raised its position in CVR Refining, by 61.1% in the 2nd quarter. Parkwood LLC now owns 141,000 shares of the oil and gas company’s stock valued at $1,340,000 after purchasing an additional 53,487 shares during the last quarter. Finally, HighTower Advisors LLC purchased a new stake in CVR Refining, in the 1st quarter valued at $100,000. Hedge funds and other institutional investors own 10.98% 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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