CVR Refining, LP (NYSE:CVRR) Downgraded by BidaskClub
CVR Refining, LP (NYSE:CVRR) was downgraded by investment analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research note issued on Sunday.
CVRR has been the subject of a number of other reports. Citigroup Inc. decreased their price objective on CVR Refining, from $11.00 to $10.00 and set a “neutral” rating for the company in a research note on Monday, July 17th. Zacks Investment Research cut CVR Refining, from a “hold” rating to a “sell” rating in a research note on Monday, April 17th. UBS AG restated a “neutral” rating and set a $8.50 price objective (down from $10.00) on shares of CVR Refining, in a research note on Wednesday, August 2nd. Credit Suisse Group cut CVR Refining, from an “outperform” rating to a “neutral” rating and set a $10.00 price objective for the company. in a research note on Tuesday, June 20th. Finally, ValuEngine upgraded CVR Refining, from a “hold” rating to a “buy” rating in a research note on Tuesday, June 13th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $9.56.
CVR Refining, (NYSE CVRR) opened at 7.30 on Friday. CVR Refining, has a 12 month low of $5.65 and a 12 month high of $12.55. The firm’s 50-day moving average price is $9.13 and its 200 day moving average price is $9.93. The stock has a market cap of $1.08 billion, a price-to-earnings ratio of 20.33 and a beta of 1.28.
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. CVR Refining, had a return on equity of 3.99% and a net margin of 1.02%. The firm had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.23 billion. During the same period in the previous year, the company posted $0.53 EPS. CVR Refining,’s quarterly revenue was up 14.9% compared to the same quarter last year. On average, analysts anticipate that CVR Refining, will post $0.14 earnings per share for the current year.
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A number of large investors have recently added to or reduced their stakes in CVRR. HITE Hedge Asset Management LLC acquired a new stake in CVR Refining, during the second quarter worth approximately $9,916,000. Parkwood LLC boosted its stake in CVR Refining, by 61.1% in the second quarter. Parkwood LLC now owns 141,000 shares of the oil and gas company’s stock worth $1,340,000 after buying an additional 53,487 shares during the period. Acadian Asset Management LLC boosted its stake in CVR Refining, by 389.1% in the second quarter. Acadian Asset Management LLC now owns 572,644 shares of the oil and gas company’s stock worth $5,442,000 after buying an additional 455,572 shares during the period. Russell Investments Group Ltd. acquired a new stake in CVR Refining, during the second quarter worth approximately $570,000. Finally, Bank of Montreal Can acquired a new stake in CVR Refining, during the second quarter worth approximately $766,000. Institutional investors own 11.55% 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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