Zacks Investment Research upgraded shares of CVR Refining, LP (NYSE:CVRR) from a strong sell rating to a hold rating in a research note published on Tuesday morning.

According to Zacks, “CVR Refining, LP is engaged in the refining of petroleum primarily in the United States. It has refining and related logistics assets that operate in the mid-continent region. The company operates in Coffeyville, Kansas, Wynnewood and Oklahoma. CVR Refining, LP is headquartered in Sugar Land, Texas. “

Several other research firms also recently commented on CVRR. BidaskClub downgraded CVR Refining, from a sell rating to a strong sell rating in a research report on Sunday, August 6th. ValuEngine downgraded CVR Refining, from a buy rating to a hold rating in a research report on Monday. Citigroup Inc. dropped their target price on CVR Refining, from $11.00 to $10.00 and set a neutral rating for the company in a research report on Monday, July 17th. UBS AG reiterated a neutral rating and issued a $8.50 target price (down from $10.00) on shares of CVR Refining, in a research report on Tuesday, August 8th. Finally, Credit Suisse Group downgraded CVR Refining, from an outperform rating to a neutral rating and set a $10.00 target price for the company. in a research report on Tuesday, June 20th. One equities research analyst has rated the stock with a sell rating and nine have assigned a hold rating to the company’s stock. CVR Refining, has an average rating of Hold and a consensus price target of $9.56.

CVR Refining, (NYSE CVRR) opened at 9.00 on Tuesday. The firm’s 50 day moving average price is $7.82 and its 200-day moving average price is $9.24. CVR Refining, has a one year low of $6.45 and a one year high of $12.55. The company has a market capitalization of $1.33 billion, a PE ratio of 25.07 and a beta of 1.25.

CVR Refining, (NYSE:CVRR) last announced its quarterly earnings data on Thursday, July 27th. The oil and gas company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.30). The business had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.23 billion. CVR Refining, had a return on equity of 3.99% and a net margin of 1.02%. CVR Refining,’s quarterly revenue was up 14.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.53 earnings per share. Equities analysts forecast that CVR Refining, will post $0.25 earnings per share for the current fiscal year.

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Several institutional investors and hedge funds have recently modified their holdings of the company. Morgan Stanley raised its position in shares of CVR Refining, by 36.1% during the first quarter. Morgan Stanley now owns 2,004,627 shares of the oil and gas company’s stock worth $18,945,000 after acquiring an additional 531,355 shares during the last quarter. Bank of America Corp DE raised its position in shares of CVR Refining, by 39.1% during the first quarter. Bank of America Corp DE now owns 1,131,430 shares of the oil and gas company’s stock worth $10,692,000 after acquiring an additional 318,126 shares during the last quarter. HITE Hedge Asset Management LLC bought a new position in shares of CVR Refining, during the second quarter worth about $9,916,000. Arrowstreet Capital Limited Partnership bought a new position in shares of CVR Refining, during the second quarter worth about $8,935,000. Finally, Artemis Investment Management LLP bought a new position in shares of CVR Refining, during the second quarter worth about $5,897,000. Institutional investors own 10.98% 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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