Analysts Set CVR Refining LP (CVRR) PT at $9.74
Shares of CVR Refining LP (NYSE:CVRR) have been given a consensus recommendation of “Hold” by the eleven analysts that are covering the company. Four investment analysts have rated the stock with a sell recommendation, five have given a hold recommendation, one has issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $9.87.
CVRR has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded shares of CVR Refining from a “hold” rating to a “buy” rating and set a $10.00 target price on the stock in a report on Wednesday, October 12th. TheStreet upgraded shares of CVR Refining from a “sell” rating to a “hold” rating in a report on Thursday, October 6th. JPMorgan Chase & Co. upgraded shares of CVR Refining from an “underweight” rating to a “neutral” rating and set a $8.00 target price on the stock in a report on Friday, October 28th. Citigroup Inc. boosted their target price on shares of CVR Refining from $7.00 to $9.00 and gave the stock a “neutral” rating in a report on Wednesday, September 14th. Finally, Credit Suisse Group AG upgraded shares of CVR Refining from an “underperform” rating to a “neutral” rating and upped their price objective for the company from $7.00 to $9.00 in a report on Thursday, November 10th.
Large investors have recently made changes to their positions in the stock. First Trust Advisors LP acquired a new stake in shares of CVR Refining during the third quarter worth about $41,518,000. Atlantic Trust Group LLC boosted its stake in CVR Refining by 27.6% in the second quarter. Atlantic Trust Group LLC now owns 368,016 shares of the company’s stock valued at $2,852,000 after buying an additional 79,683 shares in the last quarter. BNP Paribas Arbitrage SA boosted its stake in CVR Refining by 8.1% in the second quarter. BNP Paribas Arbitrage SA now owns 337,456 shares of the company’s stock valued at $2,615,000 after buying an additional 25,167 shares in the last quarter. Emerald Acquisition Ltd. purchased a new stake in CVR Refining during the second quarter valued at $1,183,000. Finally, Bank of Montreal Can purchased a new stake in CVR Refining during the second quarter valued at $868,000.
Shares of CVR Refining (NYSE:CVRR) opened at 8.60 on Thursday. The company’s market capitalization is $1.27 billion. CVR Refining has a one year low of $5.50 and a one year high of $22.38. The firm has a 50-day moving average of $8.29 and a 200-day moving average of $8.13.
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 had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.16 billion. The company’s revenue was down 14.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.94 EPS. Equities research analysts expect that CVR Refining will post $0.19 EPS for the current fiscal 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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