CVR Refining, LP (NYSE:CVRR) was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Monday.
Several other analysts have also recently commented on the company. BidaskClub raised CVR Refining, from a “sell” rating to a “hold” rating in a research report on Saturday. UBS AG reaffirmed a “neutral” rating and issued a $8.50 target price (down previously from $10.00) on shares of CVR Refining, in a research report on Tuesday, August 8th. Citigroup Inc. reaffirmed a “neutral” rating and issued a $8.00 target price on shares of CVR Refining, in a research report on Wednesday, August 2nd. Zacks Investment Research cut CVR Refining, from a “hold” rating to a “sell” rating in a research report on Tuesday, July 11th. Finally, Credit Suisse Group cut CVR Refining, from an “outperform” rating to a “neutral” rating and set a $10.00 target price for the company. in a research report on Tuesday, June 20th. One equities research analyst has rated the stock with a sell rating and nine have given a hold rating to the company. CVR Refining, currently has a consensus rating of “Hold” and a consensus target price of $9.56.
CVR Refining, (NYSE CVRR) opened at 9.00 on Monday. CVR Refining, has a 52-week low of $6.45 and a 52-week high of $12.55. The stock has a market capitalization of $1.33 billion, a P/E ratio of 25.07 and a beta of 1.25. The company’s 50-day moving average price is $7.82 and its 200 day moving average price is $9.24.
CVR Refining, (NYSE:CVRR) last issued its earnings results on Thursday, July 27th. The oil and gas company reported ($0.13) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.17 by ($0.30). The business had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.23 billion. CVR Refining, had a return on equity of 3.99% and a net margin of 1.02%. The business’s quarterly revenue was up 14.9% on a year-over-year basis. During the same period last year, the business earned $0.53 EPS. On average, equities research analysts anticipate that CVR Refining, will post $0.25 earnings per share for the current year.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. HighTower Advisors LLC acquired a new stake in CVR Refining, during the first quarter valued at $100,000. Alliancebernstein L.P. acquired a new stake in CVR Refining, during the first quarter valued at $112,000. PNC Financial Services Group Inc. boosted its position in CVR Refining, by 10.8% during 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 purchasing an additional 2,000 shares during the last quarter. Airain ltd acquired a new stake in CVR Refining, during the first quarter valued at $196,000. Finally, Clinton Group Inc. boosted its position in CVR Refining, by 58.7% during the first quarter. Clinton Group Inc. now owns 27,868 shares of the oil and gas company’s stock valued at $263,000 after purchasing an additional 10,303 shares during the last quarter. 10.98% of the stock is owned by hedge funds and other institutional investors.
About CVR Refining,
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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