Ameriprise Financial Inc. lowered its stake in CVR Refining, LP (NYSE:CVRR) by 4.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 57,450 shares of the oil and gas company’s stock after selling 2,950 shares during the period. Ameriprise Financial Inc.’s holdings in CVR Refining, were worth $543,000 as of its most recent filing with the SEC.
A number of other large investors have also made changes to their positions in the company. GSA Capital Partners LLP purchased a new position in CVR Refining, during the fourth quarter valued at approximately $277,000. First Trust Advisors LP purchased a new position in CVR Refining, during the first quarter valued at approximately $487,000. Wells Fargo & Company MN boosted its position in CVR Refining, by 17.7% in the first quarter. Wells Fargo & Company MN now owns 75,257 shares of the oil and gas company’s stock valued at $711,000 after buying an additional 11,343 shares during the period. BNP Paribas Arbitrage SA boosted its position in CVR Refining, by 63.0% in the first quarter. BNP Paribas Arbitrage SA now owns 79,192 shares of the oil and gas company’s stock valued at $748,000 after buying an additional 30,602 shares during the period. Finally, Grisanti Capital Management LLC bought a new position in shares of CVR Refining, during the first quarter valued at about $749,000. 12.18% of the stock is currently owned by hedge funds and other institutional investors.
Shares of CVR Refining, LP (NYSE CVRR) traded down 2.16% during trading on Wednesday, hitting $6.80. 217,904 shares of the stock traded hands. CVR Refining, LP has a 52 week low of $6.25 and a 52 week high of $12.55. The firm’s 50-day moving average price is $8.54 and its 200-day moving average price is $9.64. The company has a market cap of $1.00 billion, a price-to-earnings ratio of 18.94 and a beta of 1.28.
CVR Refining, (NYSE:CVRR) last announced its earnings results on Thursday, July 27th. The oil and gas company reported ($0.13) EPS for the quarter, missing the consensus estimate of $0.17 by $0.30. The business had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.23 billion. CVR Refining, had a return on equity of 3.99% and a net margin of 1.02%. CVR Refining,’s revenue for the quarter was up 14.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.53 EPS. On average, equities research analysts anticipate that CVR Refining, LP will post $0.14 earnings per share for the current year.
CVRR has been the subject of several research analyst reports. Citigroup Inc. restated a “neutral” rating and issued a $10.00 target price (down previously from $11.80) on shares of CVR Refining, in a report on Saturday, April 22nd. Zacks Investment Research upgraded shares of CVR Refining, from a “sell” rating to a “hold” rating in a research note on Friday, April 28th. ValuEngine cut shares of CVR Refining, from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Credit Suisse Group downgraded shares of CVR Refining, from an “outperform” rating to a “neutral” rating and set a $10.00 price objective for the company. in a research report on Tuesday, June 20th. Finally, BidaskClub downgraded shares of CVR Refining, from a “hold” rating to a “sell” rating in a report on Thursday, June 22nd. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $9.56.
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.
Receive News & Ratings for CVR Refining LP Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CVR Refining LP and related companies with our FREE daily email newsletter.