Zacks Investment Research downgraded shares of CVR Refining, LP (NYSE:CVRR) from a buy rating to a hold rating in a research report released on Friday, October 6th.
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. “
Other analysts also recently issued research reports about the company. BidaskClub downgraded CVR Refining, from a hold rating to a sell rating in a research note on Thursday, June 22nd. ValuEngine downgraded CVR Refining, from a buy rating to a hold rating in a research note on Monday, September 11th. UBS AG reiterated a neutral rating and set a $8.50 target price (down from $10.00) on shares of CVR Refining, in a research note on Tuesday, August 8th. Finally, Citigroup Inc. cut their target price on CVR Refining, from $11.00 to $10.00 and set a neutral rating on the stock in a research note on Monday, July 17th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus price target of $9.69.
Shares of CVR Refining, (NYSE:CVRR) opened at 11.20 on Friday. The company has a market cap of $1.65 billion, a PE ratio of 31.20 and a beta of 1.28. The stock’s 50 day moving average price is $9.40 and its 200-day moving average price is $9.16. CVR Refining, has a 52 week low of $6.45 and a 52 week high of $12.55.
CVR Refining, (NYSE:CVRR) last issued its earnings results on Thursday, July 27th. The oil and gas company reported ($0.13) earnings per share 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 for the quarter, compared to analysts’ expectations of $1.23 billion. During the same quarter in the prior year, the company earned $0.53 earnings per share. The company’s 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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A number of large investors have recently bought and sold shares of the business. Ameriprise Financial Inc. raised its holdings in CVR Refining, by 1.9% during the second quarter. Ameriprise Financial Inc. now owns 58,550 shares of the oil and gas company’s stock valued at $556,000 after acquiring an additional 1,100 shares during the period. Alliancebernstein L.P. raised its holdings in CVR Refining, by 14.4% during the second quarter. Alliancebernstein L.P. now owns 13,515 shares of the oil and gas company’s stock valued at $128,000 after acquiring an additional 1,705 shares during the period. PNC Financial Services Group Inc. raised its holdings 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 acquiring an additional 2,000 shares during the period. California Public Employees Retirement System raised its holdings in CVR Refining, by 3.3% during the second quarter. California Public Employees Retirement System now owns 100,400 shares of the oil and gas company’s stock valued at $954,000 after acquiring an additional 3,200 shares during the period. Finally, Stifel Financial Corp raised its holdings in CVR Refining, by 13.5% during the first quarter. Stifel Financial Corp now owns 31,157 shares of the oil and gas company’s stock valued at $301,000 after acquiring an additional 3,716 shares during the period. 10.98% of the stock is currently owned by institutional investors and hedge funds.
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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