ValuEngine Downgrades CVR Refining (CVRR) to Hold

CVR Refining (NYSE:CVRR) was downgraded by ValuEngine from a “buy” rating to a “hold” rating in a research report issued on Thursday.

Other equities research analysts have also recently issued research reports about the company. Mizuho initiated coverage on CVR Refining in a research note on Thursday, August 2nd. They issued a “buy” rating and a $27.00 price objective for the company. Tudor Pickering cut CVR Refining from a “buy” rating to a “hold” rating in a research note on Friday, July 27th. Citigroup reduced their price objective on CVR Refining from $21.00 to $20.00 and set a “hold” rating for the company in a research note on Friday, September 7th. Zacks Investment Research cut CVR Refining from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 31st. Finally, JPMorgan Chase & Co. boosted their price objective on CVR Refining from $22.00 to $24.00 and gave the company a “neutral” rating in a research note on Friday, July 27th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $18.79.

Shares of NYSE CVRR opened at $18.03 on Thursday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.94 and a quick ratio of 1.22. CVR Refining has a twelve month low of $11.11 and a twelve month high of $26.00. The company has a market capitalization of $2.84 billion, a price-to-earnings ratio of 30.05 and a beta of 1.48.

CVR Refining (NYSE:CVRR) last issued its quarterly earnings data on Wednesday, October 24th. The oil and gas company reported $1.18 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.97 by $0.21. CVR Refining had a return on equity of 26.00% and a net margin of 6.16%. The company had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.72 billion. During the same quarter in the previous year, the business earned $0.47 earnings per share. The firm’s revenue for the quarter was up 34.0% on a year-over-year basis.

Institutional investors have recently added to or reduced their stakes in the company. Premia Global Advisors LLC purchased a new stake in shares of CVR Refining during the second quarter worth approximately $103,000. First Allied Advisory Services Inc. purchased a new stake in shares of CVR Refining during the second quarter worth approximately $286,000. Cornerstone Wealth Management LLC purchased a new stake in shares of CVR Refining during the second quarter worth approximately $297,000. S. Muoio & CO. LLC purchased a new stake in shares of CVR Refining during the second quarter worth approximately $671,000. Finally, Arrow Investment Advisors LLC purchased a new stake in shares of CVR Refining during the second quarter worth approximately $821,000. Institutional investors and hedge funds own 16.33% of the company’s stock.

CVR Refining Company Profile

CVR Refining, LP operates as an independent petroleum refiner and marketer of transportation fuels in the United States. The company owns and operates a complex full coking medium-sour crude oil refinery in Coffeyville, Kansas; and a complex crude oil refinery in Wynnewood, Oklahoma. It also controls and operates logistics assets, including approximately 570 miles of owned and leased pipelines; approximately 130 crude oil transports; a network of crude oil gathering tank farms; and approximately 6.4 million barrels of owned and leased crude oil storage capacity, as well as approximately 4.6 million barrels of combined refined products and feedstocks storage capacity.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for CVR Refining (NYSE:CVRR)

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