CVR Refining, LP (CVRR) Given New $10.50 Price Target at Citigroup Inc.

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.

Analyst Recommendations for CVR Refining, (NYSE:CVRR)

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