CVR Refining, LP (CVRR) Raised to Buy at Tudor Pickering

CVR Refining, LP (NYSE:CVRR) was upgraded by equities researchers at Tudor Pickering from a “hold” rating to a “buy” rating in a research report issued on Monday, October 9th, MarketBeat reports.

CVRR has been the subject of a number of other reports. ValuEngine downgraded CVR Refining, from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 14th. BidaskClub cut CVR Refining, from a “sell” rating to a “strong sell” rating in a research note on Sunday, August 6th. UBS AG reissued a “neutral” rating and issued a $8.50 price target (down previously from $10.00) on shares of CVR Refining, in a research note on Wednesday, August 2nd. Citigroup Inc. reissued a “neutral” rating and issued a $8.00 price target on shares of CVR Refining, in a research note on Wednesday, August 2nd. Finally, Zacks Investment Research raised CVR Refining, from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 12th. 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. CVR Refining, currently has an average rating of “Hold” and a consensus price target of $10.00.

CVR Refining, (CVRR) opened at 10.80 on Monday. The firm has a 50 day moving average of $9.77 and a 200-day moving average of $9.22. The stock has a market capitalization of $1.59 billion, a PE ratio of 30.08 and a beta of 1.28. CVR Refining, has a 52 week low of $6.45 and a 52 week high of $12.55.

CVR Refining, (NYSE:CVRR) last posted its quarterly earnings results on Thursday, July 27th. The oil and gas company reported ($0.13) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.17 by ($0.30). The firm had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.23 billion. CVR Refining, had a net margin of 1.02% and a return on equity of 3.99%. The business’s revenue was up 14.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.53 earnings per share. On average, equities analysts predict that CVR Refining, will post $0.71 EPS for the current year.

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Several hedge funds and other institutional investors have recently modified their holdings of CVRR. Wells Fargo & Company MN increased its holdings in shares of CVR Refining, by 17.7% during the 1st quarter. Wells Fargo & Company MN now owns 75,257 shares of the oil and gas company’s stock valued at $711,000 after acquiring an additional 11,343 shares during the last quarter. First Trust Advisors LP acquired a new stake in CVR Refining, in the 1st quarter valued at approximately $487,000. Stifel Financial Corp grew its holdings in CVR Refining, by 13.5% in the 1st quarter. Stifel Financial Corp now owns 31,157 shares of the oil and gas company’s stock valued at $301,000 after buying an additional 3,716 shares during the last quarter. Clinton Group Inc. grew its holdings in CVR Refining, by 58.7% in the 1st quarter. Clinton Group Inc. now owns 27,868 shares of the oil and gas company’s stock valued at $263,000 after buying an additional 10,303 shares during the last quarter. Finally, Alliancebernstein L.P. acquired a new stake in CVR Refining, in the 1st quarter valued at approximately $112,000. 10.98% of the stock is currently owned by institutional investors and hedge funds.

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.

Analyst Recommendations for CVR Refining, (NYSE:CVRR)

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