CVR Refining, LP (NYSE:CVRR) had its price target boosted by equities research analysts at Citigroup Inc. from $8.00 to $10.50 in a research report issued to clients and investors on Wednesday, October 18th. The brokerage presently has a “neutral” rating on the oil and gas company’s stock. Citigroup Inc.’s price target points to a potential upside of 0.96% from the stock’s current price.
A number of other equities research analysts have also issued reports on CVRR. ValuEngine lowered CVR Refining, from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 14th. BidaskClub lowered CVR Refining, from a “sell” rating to a “strong sell” rating in a research report on Sunday, August 6th. UBS AG reiterated 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. Finally, Zacks Investment Research upgraded CVR Refining, from a “strong sell” rating to a “hold” rating in a research report on Tuesday, September 12th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $10.00.
CVR Refining, (NYSE CVRR) traded down 0.240% during midday trading on Wednesday, hitting $10.375. The stock had a trading volume of 21,244 shares. The firm has a 50-day moving average of $9.90 and a 200-day moving average of $9.24. The company has a market cap of $1.53 billion, a PE ratio of 28.900 and a beta of 1.28. CVR Refining, has a 12-month low of $6.45 and a 12-month high of $12.55.
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 (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.30). The company had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.23 billion. CVR Refining, had a net margin of 1.02% and a return on equity of 3.99%. CVR Refining,’s revenue for the quarter was up 14.9% on a year-over-year basis. During the same quarter last year, the company earned $0.53 earnings per share. Equities research analysts forecast that CVR Refining, will post $0.71 EPS for the current year.
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A number of institutional investors have recently bought and sold shares of CVRR. HITE Hedge Asset Management LLC acquired a new stake in CVR Refining, in the second quarter valued at $9,916,000. Arrowstreet Capital Limited Partnership acquired a new stake in CVR Refining, in the second quarter valued at $8,935,000. Artemis Investment Management LLP acquired a new stake in CVR Refining, in the second quarter valued at $5,897,000. JPMorgan Chase & Co. raised its stake in 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 valued at $5,135,000 after buying an additional 537,049 shares in the last quarter. Finally, Morgan Stanley raised its stake 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. Institutional investors own 11.13% 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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