BidaskClub Lowers CVR Refining LP (NYSE:CVRR) to Strong Sell
BidaskClub lowered shares of CVR Refining LP (NYSE:CVRR) from a sell rating to a strong sell rating in a research note issued to investors on Sunday.
A number of other equities analysts also recently weighed in on the stock. Zacks Investment Research downgraded shares of CVR Refining from a hold rating to a sell rating in a research note on Monday, April 17th. ValuEngine raised shares of CVR Refining from a buy rating to a strong-buy rating in a research note on Friday, July 7th. Citigroup Inc. reaffirmed a neutral rating and issued a $10.00 price target (down from $11.80) on shares of CVR Refining in a research note on Saturday, April 22nd. Finally, Credit Suisse Group downgraded shares of CVR Refining from an outperform rating to a neutral rating and set a $10.00 price target on the stock. in a research note on Tuesday, June 20th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average price target of $9.56.
CVR Refining (NYSE:CVRR) opened at 7.00 on Friday. CVR Refining has a one year low of $5.75 and a one year high of $12.55. The company has a 50-day moving average price of $8.97 and a 200-day moving average price of $9.88. The firm has a market cap of $1.03 billion, a PE ratio of 19.50 and a beta of 1.28.
CVR Refining (NYSE:CVRR) last posted its quarterly earnings results on Thursday, July 27th. The oil and gas company reported ($0.13) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.17 by $0.30. CVR Refining had a negative return on equity of 5.69% and a negative net margin of 1.43%. The company had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.23 billion. During the same period last year, the company posted $0.53 earnings per share. The company’s revenue was up 14.9% compared to the same quarter last year. Equities analysts predict that CVR Refining will post $0.14 earnings per share for the current fiscal year.
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A number of large investors have recently modified their holdings of CVRR. JPMorgan Chase & Co. boosted its stake in shares of CVR Refining by 15,870.2% in the second quarter. JPMorgan Chase & Co. now owns 540,433 shares of the oil and gas company’s stock worth $5,135,000 after buying an additional 537,049 shares in the last quarter. Artemis Investment Management LLP acquired a new stake in shares of CVR Refining during the second quarter worth about $5,897,000. HITE Hedge Asset Management LLC acquired a new stake in shares of CVR Refining during the second quarter worth about $9,916,000. Parkwood LLC boosted its stake in shares of CVR Refining by 61.1% in the second quarter. Parkwood LLC now owns 141,000 shares of the oil and gas company’s stock worth $1,340,000 after buying an additional 53,487 shares in the last quarter. Finally, Acadian Asset Management LLC boosted its stake in shares of CVR Refining by 389.1% in the second quarter. Acadian Asset Management LLC now owns 572,644 shares of the oil and gas company’s stock worth $5,442,000 after buying an additional 455,572 shares in the last quarter. Hedge funds and other institutional investors own 11.55% 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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