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.
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.
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