CVR Refining, LP (CVRR) Upgraded to Buy by Tudor Pickering

Tudor Pickering upgraded shares of CVR Refining, LP (NYSE:CVRR) from a hold rating to a buy rating in a research note issued to investors on Monday, MarketBeat.com reports.

Other equities research analysts also recently issued reports about the company. BidaskClub downgraded CVR Refining, from a hold rating to a sell rating in a report on Thursday, June 22nd. Zacks Investment Research downgraded CVR Refining, from a hold rating to a sell rating in a report on Tuesday, July 11th. ValuEngine downgraded CVR Refining, from a buy rating to a hold rating in a report on Monday, September 11th. UBS AG reaffirmed a neutral rating and set a $8.50 price objective (down from $10.00) on shares of CVR Refining, in a report on Tuesday, August 8th. Finally, Citigroup Inc. decreased their price objective on CVR Refining, from $11.00 to $10.00 and set a neutral rating on the stock in a report on Monday, July 17th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The company has an average rating of Hold and a consensus price target of $9.69.

CVR Refining, (NYSE:CVRR) opened at 11.35 on Monday. The company has a market cap of $1.68 billion, a P/E ratio of 31.62 and a beta of 1.28. CVR Refining, has a 12-month low of $6.45 and a 12-month high of $12.55. The firm’s 50-day moving average price is $9.24 and its 200-day moving average price is $9.14.

CVR Refining, (NYSE:CVRR) last released its earnings results on Thursday, July 27th. The oil and gas company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.30). CVR Refining, had a return on equity of 3.99% and a net margin of 1.02%. The firm had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.23 billion. During the same period last year, the business earned $0.53 earnings per share. The firm’s quarterly revenue was up 14.9% compared to the same quarter last year. Analysts expect that CVR Refining, will post $0.56 EPS for the current year.

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Several large investors have recently bought and sold shares of the company. U S Global Investors Inc. bought a new position in shares of CVR Refining, in the second quarter valued at approximately $1,034,000. Arrowstreet Capital Limited Partnership bought a new position in CVR Refining, in the 2nd quarter worth approximately $8,935,000. Stifel Financial Corp raised its position in CVR Refining, by 26.8% in the 2nd quarter. Stifel Financial Corp now owns 39,499 shares of the oil and gas company’s stock worth $385,000 after purchasing an additional 8,342 shares during the last quarter. California Public Employees Retirement System raised its position in CVR Refining, by 3.3% in the 2nd quarter. California Public Employees Retirement System now owns 100,400 shares of the oil and gas company’s stock worth $954,000 after purchasing an additional 3,200 shares during the last quarter. Finally, GSA Capital Partners LLP bought a new position in CVR Refining, in the 2nd quarter worth approximately $439,000. 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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