CVR Refining LP (CVRR) Downgraded to Hold at ValuEngine
ValuEngine downgraded shares of CVR Refining LP (NYSE:CVRR) from a buy rating to a hold rating in a research note published on Friday.
Other research analysts have also issued reports about the stock. TheStreet raised shares of CVR Refining from a d+ rating to a c- rating in a research note on Thursday, February 16th. Zacks Investment Research raised shares of CVR Refining from a sell rating to a hold rating in a research note on Monday, April 10th. Citigroup Inc boosted their target price on shares of CVR Refining from $10.00 to $11.00 and gave the company a neutral rating in a research note on Thursday, May 25th. Finally, JPMorgan Chase & Co. lowered shares of CVR Refining from an overweight rating to a neutral rating and reduced their price target for the stock from $12.50 to $11.00 in a research note on Thursday, March 9th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the stock. CVR Refining has a consensus rating of Hold and an average price target of $10.25.
Shares of CVR Refining (CVRR) traded up 1.04% during midday trading on Friday, reaching $9.70. 304,456 shares of the company were exchanged. The company’s 50-day moving average price is $9.82 and its 200 day moving average price is $10.04. CVR Refining has a 52-week low of $5.50 and a 52-week high of $12.55. The stock has a market capitalization of $1.43 billion, a price-to-earnings ratio of 9.53 and a beta of 1.34.
CVR Refining (NYSE:CVRR) last posted its earnings results on Thursday, April 27th. The oil and gas company reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.42. The firm had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.25 billion. CVR Refining had a negative net margin of 2.34% and a negative return on equity of 7.55%. CVR Refining’s revenue was up 70.7% on a year-over-year basis. During the same period in the previous year, the business posted ($0.46) EPS. On average, equities analysts predict that CVR Refining will post $1.04 earnings per share for the current year.
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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CVRR. Valueworks LLC raised its position in CVR Refining by 50.0% in the first quarter. Valueworks LLC now owns 150,000 shares of the oil and gas company’s stock valued at $1,417,000 after buying an additional 50,000 shares in the last quarter. HighTower Advisors LLC bought a new position in CVR Refining during the first quarter valued at $100,000. Bank of America Corp DE raised its position in CVR Refining by 39.1% in the first quarter. Bank of America Corp DE now owns 1,131,430 shares of the oil and gas company’s stock valued at $10,692,000 after buying an additional 318,126 shares in the last quarter. Morgan Stanley raised its position in CVR Refining by 36.1% in the first quarter. Morgan Stanley now owns 2,004,627 shares of the oil and gas company’s stock valued at $18,945,000 after buying an additional 531,355 shares in the last quarter. Finally, Regal Investment Advisors LLC bought a new position in CVR Refining during the first quarter valued at $386,000. Hedge funds and other institutional investors own 6.50% of the company’s stock.
CVR Refining Company Profile
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.
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