CVR Refining (CVRR) Price Target Increased to $16.00 by Analysts at Citigroup

CVR Refining (NYSE:CVRR) had its price target boosted by equities research analysts at Citigroup from $13.00 to $16.00 in a research report issued on Wednesday. The brokerage presently has a “neutral” rating on the oil and gas company’s stock. Citigroup’s price target suggests a potential downside of 8.31% from the stock’s current price.

A number of other equities research analysts have also recently weighed in on the company. UBS Group cut CVR Refining from a “neutral” rating to a “sell” rating and upped their price target for the stock from $8.50 to $10.50 in a report on Wednesday, November 15th. Barclays upgraded CVR Refining from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $13.00 to $14.00 in a report on Tuesday, November 14th. Tudor Pickering upgraded CVR Refining from a “hold” rating to a “buy” rating in a report on Monday, October 9th. Zacks Investment Research cut CVR Refining from a “buy” rating to a “hold” rating in a report on Friday, October 6th. Finally, BidaskClub upgraded CVR Refining from a “hold” rating to a “buy” rating in a report on Saturday, November 4th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $12.58.

Shares of CVR Refining (NYSE:CVRR) opened at $17.45 on Wednesday. The firm has a market capitalization of $2,590.38, a P/E ratio of 24.24 and a beta of 1.40. 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 fifty-two week low of $6.70 and a fifty-two week high of $18.25.

CVR Refining (NYSE:CVRR) last released its quarterly earnings results on Wednesday, November 1st. The oil and gas company reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.24. The business had revenue of $1.39 billion for the quarter, compared to analysts’ expectations of $1.20 billion. CVR Refining had a return on equity of 7.90% and a net margin of 1.98%. The company’s revenue was up 19.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.11 EPS. analysts expect that CVR Refining will post 1.39 earnings per share for the current year.

A number of large investors have recently made changes to their positions in CVRR. Acadian Asset Management LLC lifted 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 worth $27,472,000 after purchasing an additional 835,666 shares during the period. Bank of Montreal Can lifted its stake in shares of CVR Refining by 14.2% during the 4th quarter. Bank of Montreal Can now owns 46,489 shares of the oil and gas company’s stock worth $769,000 after purchasing an additional 5,789 shares during the period. GSA Capital Partners LLP lifted its stake in shares of CVR Refining by 73.9% during the 3rd quarter. GSA Capital Partners LLP now owns 80,430 shares of the oil and gas company’s stock worth $792,000 after purchasing an additional 34,171 shares during the period. Hotchkis & Wiley Capital Management LLC purchased a new position in shares of CVR Refining during the 3rd quarter worth $185,000. Finally, Wells Fargo & Company MN lifted its stake in shares of CVR Refining by 150.4% during the 3rd quarter. Wells Fargo & Company MN now owns 178,367 shares of the oil and gas company’s stock worth $1,758,000 after purchasing an additional 107,130 shares during the period. Hedge funds and other institutional investors own 12.78% of the company’s stock.

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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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