CVR Refining LP (CVRR) Given Average Rating of “Hold” by Analysts
Shares of CVR Refining LP (NYSE:CVRR) have earned a consensus rating of “Hold” from the eleven research firms that are presently covering the firm. Six analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a strong buy rating to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $9.49.
A number of equities analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of CVR Refining from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 26th. Barclays PLC lowered shares of CVR Refining from an “overweight” rating to an “underweight” rating and decreased their target price for the company from $8.00 to $6.00 in a report on Thursday, August 4th. JPMorgan Chase & Co. reiterated a “sell” rating on shares of CVR Refining in a report on Thursday, June 30th. Goldman Sachs Group Inc. reiterated a “sell” rating on shares of CVR Refining in a report on Wednesday, June 29th. Finally, TheStreet upgraded shares of CVR Refining from a “sell” rating to a “hold” rating in a report on Thursday, October 6th.
In related news, Director Carl C. Icahn sold 250,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 2nd. The shares were sold at an average price of $5.70, for a total transaction of $1,425,000.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
A number of large investors have recently made changes to their positions in the company. Geode Capital Management LLC increased its stake in shares of CVR Refining by 4.2% in the first quarter. Geode Capital Management LLC now owns 28,310 shares of the company’s stock valued at $341,000 after buying an additional 1,147 shares during the last quarter. Global X Management Co. LLC increased its stake in shares of CVR Refining by 1,825.3% in the second quarter. Global X Management Co. LLC now owns 14,055 shares of the company’s stock valued at $109,000 after buying an additional 13,325 shares during the last quarter. Invictus RG acquired a new stake in shares of CVR Refining during the first quarter valued at $184,000. State Street Corp increased its stake in shares of CVR Refining by 4.1% in the first quarter. State Street Corp now owns 47,199 shares of the company’s stock valued at $570,000 after buying an additional 1,847 shares during the last quarter. Finally, Groesbeck Investment Management Corp NJ increased its stake in shares of CVR Refining by 0.6% in the first quarter. Groesbeck Investment Management Corp NJ now owns 203,900 shares of the company’s stock valued at $2,463,000 after buying an additional 1,200 shares during the last quarter.
Shares of CVR Refining (NYSE:CVRR) traded down 0.9343% during trading on Wednesday, hitting $8.7475. 113,845 shares of the stock were exchanged. CVR Refining has a one year low of $5.50 and a one year high of $22.74. The company has a market cap of $1.29 billion, a price-to-earnings ratio of 48.8687 and a beta of 1.34. The stock’s 50 day moving average price is $8.17 and its 200-day moving average price is $8.91.
CVR Refining (NYSE:CVRR) last posted its quarterly earnings results on Thursday, July 28th. The company reported $0.53 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.23. The business had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.06 billion. The business’s revenue was down 24.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.54 earnings per share. On average, analysts predict that CVR Refining will post $0.27 EPS for the current year.
About CVR Refining
CVR Refining, LP is an independent downstream energy limited partnership. The Company has refining and related logistics assets that operate in the mid-continent region. The Company is a petroleum refiner and it owns approximately two refineries in the underserved Group 3 of the PADD II region of the United States.
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