CVR Refining, LP (CVRR) Upgraded at BidaskClub
BidaskClub upgraded shares of CVR Refining, LP (NYSE:CVRR) from a hold rating to a buy rating in a research note issued to investors on Saturday morning.
Several other research analysts have also weighed in on CVRR. ValuEngine lowered CVR Refining, from a strong-buy rating to a buy rating in a research report on Monday, August 14th. Barclays PLC lifted their price objective on CVR Refining, from $10.00 to $13.00 and gave the stock an underweight rating in a research report on Thursday, November 2nd. UBS AG reissued a neutral rating and issued a $8.50 price objective (down from $10.00) on shares of CVR Refining, in a research report on Wednesday, August 2nd. Citigroup Inc. reissued a neutral rating and issued a $8.00 price objective on shares of CVR Refining, in a research report on Wednesday, August 2nd. Finally, Zacks Investment Research raised CVR Refining, from a strong sell rating to a hold rating in a research report on Tuesday, September 12th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus target price of $10.38.
CVR Refining, (CVRR) opened at $12.95 on Friday. CVR Refining, has a 12-month low of $6.66 and a 12-month high of $13.00. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.68 and a quick ratio of 1.22. The firm has a market capitalization of $1,900.00, a PE ratio of 17.36 and a beta of 1.29.
CVR Refining, (NYSE:CVRR) last posted its quarterly earnings data on Wednesday, November 1st. The oil and gas company reported $0.47 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.23 by $0.24. CVR Refining, had a return on equity of 8.02% and a net margin of 1.98%. The firm had revenue of $1.39 billion during the quarter, compared to analyst estimates of $1.20 billion. During the same period last year, the company posted $0.11 EPS. The business’s quarterly revenue was up 19.1% on a year-over-year basis. research analysts predict that CVR Refining, will post 1.05 earnings per share for the current year.
The company also recently announced a special dividend, which will be paid on Friday, November 17th. Investors of record on Friday, November 10th will be given a $0.94 dividend. The ex-dividend date is Thursday, November 9th.
A number of institutional investors have recently modified their holdings of the stock. Russell Investments Group Ltd. increased its position in CVR Refining, by 32.7% in the 3rd quarter. Russell Investments Group Ltd. now owns 79,712 shares of the oil and gas company’s stock valued at $785,000 after buying an additional 19,655 shares in the last quarter. BNP Paribas Arbitrage SA increased its position in CVR Refining, by 135.9% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 186,813 shares of the oil and gas company’s stock valued at $1,840,000 after buying an additional 107,620 shares in the last quarter. U S Global Investors Inc. bought a new stake in CVR Refining, in the 2nd quarter valued at about $1,034,000. Arrowstreet Capital Limited Partnership bought a new stake in CVR Refining, in the 2nd quarter valued at about $8,935,000. Finally, Stifel Financial Corp increased its position in CVR Refining, by 26.8% in the 2nd quarter. Stifel Financial Corp now owns 39,499 shares of the oil and gas company’s stock valued at $385,000 after buying an additional 8,342 shares in the last quarter. 10.73% of the stock is owned by institutional investors and hedge funds.
About CVR Refining,
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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