CVR Refining, LP (NYSE:CVRR) had its price target boosted by Citigroup Inc. from $8.00 to $10.50 in a research report sent to investors on Wednesday. The brokerage currently has a neutral rating on the oil and gas company’s stock.
A number of other research analysts have also weighed in on CVRR. Zacks Investment Research upgraded shares of CVR Refining, from a hold rating to a buy rating and set a $11.00 price objective for the company in a research note on Wednesday, October 4th. BidaskClub lowered shares of CVR Refining, from a sell rating to a strong sell rating in a research note on Sunday, August 6th. ValuEngine upgraded shares of CVR Refining, from a buy rating to a strong-buy rating in a research note 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 for the company. in a research note on Tuesday, June 20th. Finally, Tudor Pickering upgraded shares of CVR Refining, from a hold rating to a buy rating in a research note on Monday, October 9th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the stock. The stock has a consensus rating of Hold and a consensus price target of $10.00.
CVR Refining, (NYSE CVRR) traded down 2.71% during trading on Wednesday, hitting $10.75. The stock had a trading volume of 456,294 shares. The firm has a 50 day moving average price of $9.63 and a 200-day moving average price of $9.20. CVR Refining, has a 1-year low of $6.45 and a 1-year high of $12.55. The firm has a market capitalization of $1.59 billion, a PE ratio of 29.94 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) EPS for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.30). The company had revenue of $1.34 billion during 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%. The company’s revenue for the quarter was up 14.9% compared to the same quarter last year. During the same period last year, the firm posted $0.53 EPS. On average, equities research analysts expect that CVR Refining, will post $0.71 EPS for the current year.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. HighTower Advisors LLC purchased a new position in shares of CVR Refining, during the 1st quarter valued at $100,000. Alliancebernstein L.P. purchased a new position in shares of CVR Refining, during the 1st quarter valued at $112,000. PNC Financial Services Group Inc. grew its position in shares of CVR Refining, by 10.8% during the 1st quarter. PNC Financial Services Group Inc. now owns 20,550 shares of the oil and gas company’s stock valued at $195,000 after purchasing an additional 2,000 shares in the last quarter. Stifel Financial Corp grew its position in shares of CVR Refining, by 13.5% during the 1st quarter. Stifel Financial Corp now owns 31,157 shares of the oil and gas company’s stock valued at $301,000 after purchasing an additional 3,716 shares in the last quarter. Finally, GSA Capital Partners LLP purchased a new position in shares of CVR Refining, during the 2nd quarter valued at $439,000. Hedge funds and other institutional investors own 10.98% of the company’s stock.
About CVR Refining,
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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