CVR Refining, LP (NYSE:CVRR) was upgraded by equities researchers at BidaskClub from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Saturday, November 4th.
Several other research firms also recently issued reports on CVRR. ValuEngine downgraded CVR Refining, from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 14th. Zacks Investment Research upgraded CVR Refining, from a “hold” rating to a “buy” rating and set a $11.00 target price for the company in a report on Wednesday, October 4th. Tudor Pickering upgraded CVR Refining, from a “hold” rating to a “buy” rating in a report on Monday, October 9th. UBS AG reiterated a “neutral” rating and set a $8.50 target price (down previously from $10.00) on shares of CVR Refining, in a report on Tuesday, August 8th. Finally, Citigroup Inc. restated a “neutral” rating and issued a $8.00 price target on shares of CVR Refining, in a report on Wednesday, August 2nd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $10.75.
CVR Refining, (NYSE:CVRR) opened at $12.50 on Friday. The company has a current ratio of 1.86, a quick ratio of 1.34 and a debt-to-equity ratio of 0.38. The stock has a market cap of $1,808.10, a P/E ratio of 17.01 and a beta of 1.32. CVR Refining, has a 1 year low of $6.70 and a 1 year high of $13.21.
CVR Refining, (NYSE:CVRR) last posted its quarterly earnings data on Wednesday, November 1st. The oil and gas company reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.24. CVR Refining, had a net margin of 1.98% and a return on equity of 7.90%. The firm had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.20 billion. During the same period last year, the firm posted $0.11 EPS. CVR Refining,’s quarterly revenue was up 19.1% on a year-over-year basis. research analysts predict that CVR Refining, will post 1.53 EPS for the current year.
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Several large investors have recently added to or reduced their stakes in CVRR. Morgan Stanley lifted its holdings in shares of CVR Refining, by 36.1% during the first quarter. Morgan Stanley now owns 2,004,627 shares of the oil and gas company’s stock valued at $18,945,000 after purchasing an additional 531,355 shares during the last quarter. HITE Hedge Asset Management LLC lifted its holdings in shares of CVR Refining, by 22.3% during the third 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 purchasing an additional 232,347 shares during the last quarter. Bank of America Corp DE lifted its holdings in shares of CVR Refining, by 39.1% during the first quarter. Bank of America Corp DE now owns 1,131,430 shares of the oil and gas company’s stock valued at $10,692,000 after purchasing an additional 318,126 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in shares of CVR Refining, during the second quarter valued at $8,935,000. Finally, JPMorgan Chase & Co. lifted its stake in CVR Refining, by 40.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 758,593 shares of the oil and gas company’s stock worth $7,510,000 after acquiring an additional 218,160 shares in the last quarter. 10.78% of the stock is owned by institutional investors.
About CVR Refining,
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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