CVR Refining, LP (CVRR) Rating Reiterated by Barclays PLC
CVR Refining, LP (NYSE:CVRR)‘s stock had its “sell” rating reiterated by stock analysts at Barclays PLC in a research report issued on Wednesday. They presently have a $10.00 price target on the stock. Barclays PLC’s price objective suggests a potential downside of 9.09% from the stock’s current price.
Other equities research analysts have also issued research reports about the stock. Zacks Investment Research raised shares of CVR Refining, from a “hold” rating to a “buy” rating and set a $10.00 price objective for the company in a report on Wednesday, October 12th. TheStreet raised shares of CVR Refining, from a “sell” rating to a “hold” rating in a report on Thursday, October 6th. J P Morgan Chase & Co raised shares of CVR Refining, from an “underweight” rating to a “neutral” rating and set a $8.00 price objective for the company in a report on Friday, October 28th. Citigroup Inc. upped their price objective on shares of CVR Refining, from $7.00 to $9.00 and gave the company a “neutral” rating in a report on Wednesday, September 14th. Finally, Piper Jaffray Companies raised shares of CVR Refining, from an “underweight” rating to a “neutral” rating and upped their price objective for the company from $6.00 to $7.00 in a report on Friday, November 18th. Five research analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company’s stock. CVR Refining, currently has a consensus rating of “Hold” and a consensus target price of $9.13.
CVR Refining, (NYSE:CVRR) traded up 3.18% during trading on Wednesday, reaching $11.35. 609,516 shares of the company’s stock traded hands. The company has a 50-day moving average price of $9.63 and a 200 day moving average price of $8.04. CVR Refining, has a one year low of $5.50 and a one year high of $19.97. The firm’s market capitalization is $1.68 billion.
CVR Refining, (NYSE:CVRR) last announced its quarterly earnings data on Thursday, October 27th. The company reported $0.11 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.27 by $0.16. CVR Refining, had a negative net margin of 2.34% and a negative return on equity of 7.55%. The firm earned $1.16 billion during the quarter, compared to analysts’ expectations of $1.16 billion. During the same period in the prior year, the company posted $0.94 EPS. The company’s revenue for the quarter was down 14.5% compared to the same quarter last year. On average, analysts anticipate that CVR Refining, will post $0.17 earnings per share for the current fiscal year.
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Hedge funds have recently modified their holdings of the company. Global X Management Co. LLC boosted 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 in the last quarter. Arrow Investment Advisors LLC boosted its stake in shares of CVR Refining, by 73.3% in the second quarter. Arrow Investment Advisors LLC now owns 52,641 shares of the company’s stock valued at $408,000 after buying an additional 22,260 shares in the last quarter. Emerald Acquisition Ltd. acquired a new stake in shares of CVR Refining, during the second quarter valued at about $1,183,000. Eqis Capital Management Inc. boosted 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. Finally, First Trust Advisors LP acquired a new stake in shares of CVR Refining, during the third quarter valued at about $41,518,000. 9.35% of the stock is currently owned by institutional investors and hedge funds.
CVR Refining, Company Profile
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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