CVR Refining, LP (CVRR) Receives $9.50 Average PT from Analysts
CVR Refining, LP (NYSE:CVRR) has been given an average recommendation of “Hold” by the eleven ratings firms that are currently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation and nine have issued a hold recommendation on the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $9.50.
Several research analysts have recently weighed in on CVRR shares. BidaskClub lowered shares of CVR Refining, from a “sell” rating to a “strong sell” rating in a report on Sunday, August 6th. Zacks Investment Research upgraded shares of CVR Refining, from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 12th. ValuEngine upgraded shares of CVR Refining, from a “buy” rating to a “strong-buy” rating in a report on Friday, July 7th. Credit Suisse Group lowered shares of CVR Refining, from an “outperform” rating to a “neutral” rating and set a $10.00 price objective on the stock. in a report on Tuesday, June 20th. Finally, Citigroup Inc. reiterated a “neutral” rating and set a $8.00 price objective on shares of CVR Refining, in a report on Wednesday, August 2nd.
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 Thomson Reuters’ consensus estimate of $0.17 by ($0.30). The company had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.23 billion. CVR Refining, had a return on equity of 3.99% and a net margin of 1.02%. The company’s revenue was up 14.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.53 earnings per share.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Artemis Investment Management LLP purchased a new position in CVR Refining, in the second quarter valued at approximately $5,897,000. PNC Financial Services Group Inc. raised its holdings in CVR Refining, by 10.8% in the first quarter. PNC Financial Services Group Inc. now owns 20,550 shares of the oil and gas company’s stock valued at $195,000 after buying an additional 2,000 shares during the period. Morgan Stanley raised its holdings 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 during the period. Airain ltd purchased a new position in CVR Refining, in the first quarter valued at approximately $196,000. Finally, Parkwood LLC raised its holdings 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 valued at $1,340,000 after buying an additional 53,487 shares during the period. Hedge funds and other institutional investors own 10.96% of the company’s stock.
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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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