CVR Refining LP (NYSE:CVRR) was upgraded by stock analysts at Piper Jaffray Cos. from an “underweight” rating to a “neutral” rating in a research report issued to clients and investors on Friday.

A number of other research analysts have also recently weighed in on CVRR. Zacks Investment Research upgraded CVR Refining from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 26th. Credit Suisse Group AG cut CVR Refining from a “neutral” rating to an “underperform” rating and reduced their price objective for the stock from $8.00 to $6.00 in a research note on Monday, August 1st. Barclays PLC boosted their price objective on CVR Refining from $8.00 to $10.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 2nd. Citigroup Inc. boosted their price objective on CVR Refining from $7.00 to $9.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 14th. Finally, TheStreet upgraded CVR Refining from a “sell” rating to a “hold” rating in a research note on Thursday, October 6th. Four analysts have rated the stock with a sell rating, five have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $10.32.

Analyst Recommendations for CVR Refining (NYSE:CVRR)

CVR Refining (NYSE:CVRR) opened at 8.40 on Friday. The stock has a 50 day moving average price of $8.29 and a 200-day moving average price of $8.20. The stock’s market cap is $1.24 billion. CVR Refining has a 12-month low of $5.50 and a 12-month high of $22.38.

CVR Refining (NYSE:CVRR) last issued its earnings results on Thursday, October 27th. The company reported $0.11 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.27 by $0.16. The company earned $1.16 billion during the quarter, compared to analysts’ expectations of $1.16 billion. During the same quarter in the prior year, the firm earned $0.94 EPS. The company’s revenue was down 14.5% compared to the same quarter last year. On average, equities analysts expect that CVR Refining will post $0.19 earnings per share for the current year.

Several hedge funds have recently made changes to their positions in CVRR. Global X Management Co. LLC raised 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 worth $109,000 after buying an additional 13,325 shares during the last quarter. Clinton Group Inc. purchased a new stake in shares of CVR Refining during the second quarter valued at $116,000. Eqis Capital Management Inc. raised its stake in shares of CVR Refining by 34.2% in the third quarter. Eqis Capital Management Inc. now owns 13,590 shares of the company’s stock valued at $119,000 after buying an additional 3,465 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in shares of CVR Refining by 16.5% in the third quarter. PNC Financial Services Group Inc. now owns 14,100 shares of the company’s stock valued at $124,000 after buying an additional 2,000 shares in the last quarter. Finally, Livingston Group Asset Management CO operating as Southport Capital Management raised its stake in shares of CVR Refining by 1.1% in the third quarter. Livingston Group Asset Management CO operating as Southport Capital Management now owns 14,395 shares of the company’s stock valued at $126,000 after buying an additional 150 shares in the last quarter.

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.

5 Day Chart for NYSE:CVRR

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