CVR Refining (CVRR) Rating Lowered to Hold at Zacks Investment Research

CVR Refining (NYSE:CVRR) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research note issued on Tuesday.

According to Zacks, “CVR Refining, LP is engaged in the refining of petroleum primarily in the United States. It has refining and related logistics assets that operate in the mid-continent region. The company operates in Coffeyville, Kansas, Wynnewood and Oklahoma. CVR Refining, LP is headquartered in Sugar Land, Texas. “

Several other research firms have also recently commented on CVRR. Barclays reaffirmed a “hold” rating and issued a $17.00 target price on shares of CVR Refining in a research note on Wednesday, January 10th. ValuEngine raised shares of CVR Refining from a “buy” rating to a “strong-buy” rating in a research note on Friday, February 2nd. UBS Group cut shares of CVR Refining from a “neutral” rating to a “sell” rating and lifted their target price for the stock from $8.50 to $10.50 in a research note on Wednesday, November 15th. BidaskClub raised shares of CVR Refining from a “hold” rating to a “buy” rating in a research note on Saturday, November 4th. Finally, Citigroup lifted their target price on shares of CVR Refining from $8.00 to $10.50 and gave the stock a “neutral” rating in a research note on Wednesday, October 18th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. CVR Refining has an average rating of “Hold” and a consensus target price of $12.58.

Shares of CVR Refining (NYSE:CVRR) opened at $14.85 on Tuesday. The company has a market cap of $2,190.00, a P/E ratio of 20.34 and a beta of 1.31. The company has a quick ratio of 1.34, a current ratio of 1.86 and a debt-to-equity ratio of 0.38. CVR Refining has a 12 month low of $6.70 and a 12 month high of $18.25.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Acadian Asset Management LLC grew its stake in shares of CVR Refining by 101.4% during the 4th quarter. Acadian Asset Management LLC now owns 1,659,956 shares of the oil and gas company’s stock valued at $27,472,000 after buying an additional 835,666 shares during the period. HITE Hedge Asset Management LLC grew its stake in shares of CVR Refining by 22.3% during the 3rd quarter. HITE Hedge Asset Management LLC now owns 1,276,154 shares of the oil and gas company’s stock valued at $12,570,000 after buying an additional 232,347 shares during the period. Brightline Capital Management LLC purchased a new stake in shares of CVR Refining during the 4th quarter valued at $13,240,000. JPMorgan Chase & Co. grew its stake in shares of CVR Refining by 40.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 758,593 shares of the oil and gas company’s stock valued at $7,510,000 after buying an additional 218,160 shares during the period. Finally, Deutsche Bank AG grew its stake in shares of CVR Refining by 23.6% during the 4th quarter. Deutsche Bank AG now owns 675,012 shares of the oil and gas company’s stock valued at $11,171,000 after buying an additional 129,012 shares during the period. 13.52% of the stock is owned by institutional investors.

COPYRIGHT VIOLATION NOTICE: “CVR Refining (CVRR) Rating Lowered to Hold at Zacks Investment Research” was originally published by Markets Daily and is the sole property of of Markets Daily. If you are viewing this story on another publication, it was illegally copied and republished in violation of US & international trademark & copyright law. The original version of this story can be read at https://www.themarketsdaily.com/2018/02/15/cvr-refining-cvrr-rating-lowered-to-hold-at-zacks-investment-research.html.

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.

Get a free copy of the Zacks research report on CVR Refining (CVRR)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for CVR Refining (NYSE:CVRR)

Receive News & Ratings for CVR Refining Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CVR Refining and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply