CVR Refining LP (CVRR) Shares Sold by Creative Planning
Creative Planning reduced its stake in shares of CVR Refining LP (NYSE:CVRR) by 2.4% during the third quarter, Holdings Channel reports. The firm owned 142,400 shares of the company’s stock after selling 3,500 shares during the period. Creative Planning owned about 0.10% of CVR Refining worth $1,249,000 at the end of the most recent quarter.
Other large investors have also recently modified their holdings of the company. Eqis Capital Management Inc. raised its position in CVR Refining by 34.2% in the third quarter. Eqis Capital Management Inc. now owns 13,590 shares of the company’s stock valued at $119,000 after buying an additional 3,465 shares in the last quarter. Stifel Financial Corp raised its position in CVR Refining by 5.5% in the second quarter. Stifel Financial Corp now owns 26,841 shares of the company’s stock valued at $208,000 after buying an additional 1,400 shares in the last quarter. A.R.T. Advisors LLC bought a new position in CVR Refining during the second quarter valued at $149,000. Clinton Group Inc. bought a new position in CVR Refining during the second quarter valued at $116,000. Finally, Pacad Investment Ltd. bought a new position in CVR Refining during the second quarter valued at $216,000.
CVR Refining LP (NYSE:CVRR) traded down 6.06% during mid-day trading on Tuesday, hitting $7.75. 1,025,449 shares of the company traded hands. CVR Refining LP has a one year low of $5.50 and a one year high of $22.38. The company’s 50-day moving average is $8.25 and its 200-day moving average is $8.06. The stock’s market capitalization is $1.14 billion.
CVR Refining (NYSE:CVRR) last announced its quarterly earnings results on Thursday, October 27th. The company reported $0.11 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.27 by $0.16. The business had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.16 billion. During the same quarter in the prior year, the firm posted $0.94 earnings per share. The business’s quarterly revenue was down 14.5% on a year-over-year basis. Analysts predict that CVR Refining LP will post $0.19 EPS for the current year.
CVRR has been the topic of several research reports. Credit Suisse Group AG lowered shares of CVR Refining from a “neutral” rating to an “underperform” rating and dropped their price objective for the company from $8.00 to $6.00 in a research note on Monday, August 1st. Barclays PLC upped their price objective on shares of CVR Refining from $8.00 to $10.00 and gave the company an “overweight” rating in a research note on Tuesday, August 2nd. Piper Jaffray Cos. upped their price objective on shares of CVR Refining from $4.00 to $5.00 and gave the company an “underweight” rating in a research note on Monday, August 22nd. Citigroup Inc. increased their price target on shares of CVR Refining from $7.00 to $9.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 14th. Finally, Zacks Investment Research upgraded shares of CVR Refining from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 20th. Four investment analysts have rated the stock with a sell rating, five have given a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. CVR Refining has an average rating of “Hold” and a consensus target price of $10.44.
CVR Refining Company Profile
CVR Refining, LP is an independent downstream energy limited partnership. The Company has refining and related logistics assets that operate in the mid-continent region. The Company is a petroleum refiner and it owns approximately two refineries in the underserved Group 3 of the PADD II region of the United States.
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