ValuEngine Upgrades CVR Refining (CVRR) to “Buy”
ValuEngine upgraded shares of CVR Refining (NYSE:CVRR) from a hold rating to a buy rating in a report issued on Sunday.
CVRR has been the subject of a number of other reports. Zacks Investment Research raised CVR Refining from a hold rating to a buy rating and set a $11.00 price target for the company in a report on Wednesday, October 4th. UBS Group cut CVR Refining from a neutral rating to a sell rating and lifted their price target for the company from $8.50 to $10.50 in a report on Wednesday, November 15th. Citigroup lifted their price target on CVR Refining from $8.00 to $10.50 and gave the company a neutral rating in a report on Wednesday, October 18th. Tudor Pickering raised CVR Refining from a hold rating to a buy rating in a report on Monday, October 9th. Finally, BidaskClub raised CVR Refining from a buy rating to a strong-buy rating in a report on Friday, October 13th. One analyst has rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the stock. CVR Refining presently has a consensus rating of Hold and a consensus target price of $11.29.
CVR Refining (NYSE:CVRR) opened at $16.45 on Friday. The company has a quick ratio of 1.34, a current ratio of 1.86 and a debt-to-equity ratio of 0.38. CVR Refining has a twelve month low of $6.70 and a twelve month high of $17.35. The stock has a market capitalization of $2,487.06, a PE ratio of 22.85 and a beta of 1.40.
CVR Refining (NYSE:CVRR) last released its quarterly earnings results on Wednesday, November 1st. The oil and gas company reported $0.47 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.23 by $0.24. CVR Refining had a return on equity of 7.90% and a net margin of 1.98%. The business had revenue of $1.39 billion during the quarter, compared to analysts’ expectations of $1.20 billion. During the same period in the previous year, the business posted $0.11 earnings per share. The firm’s revenue for the quarter was up 19.1% compared to the same quarter last year. research analysts predict that CVR Refining will post 1.45 EPS for the current fiscal year.
A number of large investors have recently made changes to their positions in the business. Ameriprise Financial Inc. raised its holdings in CVR Refining by 1.9% during the 2nd quarter. Ameriprise Financial Inc. now owns 58,550 shares of the oil and gas company’s stock worth $556,000 after purchasing an additional 1,100 shares during the last quarter. Alliancebernstein L.P. raised its holdings in CVR Refining by 14.4% during the 2nd quarter. Alliancebernstein L.P. now owns 13,515 shares of the oil and gas company’s stock worth $128,000 after purchasing an additional 1,705 shares during the last quarter. California Public Employees Retirement System raised its holdings in CVR Refining by 3.3% during the 2nd quarter. California Public Employees Retirement System now owns 100,400 shares of the oil and gas company’s stock worth $954,000 after purchasing an additional 3,200 shares during the last quarter. Regal Investment Advisors LLC raised its holdings in CVR Refining by 10.9% during the 3rd quarter. Regal Investment Advisors LLC now owns 41,637 shares of the oil and gas company’s stock worth $410,000 after purchasing an additional 4,100 shares during the last quarter. Finally, Stifel Financial Corp raised its holdings in CVR Refining by 26.8% during the 2nd quarter. Stifel Financial Corp now owns 39,499 shares of the oil and gas company’s stock worth $385,000 after purchasing an additional 8,342 shares during the last quarter. 12.80% of the stock is owned by hedge funds and other institutional investors.
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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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