Brightline Capital Management LLC purchased a new stake in CVR Refining LP (NYSE:CVRR) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 800,000 shares of the oil and gas company’s stock, valued at approximately $13,240,000. CVR Refining comprises about 11.7% of Brightline Capital Management LLC’s portfolio, making the stock its largest holding.
Other large investors have also made changes to their positions in the company. Alliancebernstein L.P. lifted its stake in CVR Refining by 14.4% in the second 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. Hotchkis & Wiley Capital Management LLC bought a new stake in CVR Refining in the third quarter worth about $185,000. Cetera Advisors LLC bought a new stake in CVR Refining in the fourth quarter worth about $261,000. Stifel Financial Corp lifted its stake in CVR Refining by 26.8% in the second 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. Finally, Regal Investment Advisors LLC lifted its stake in CVR Refining by 10.9% in the third 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. 13.52% of the stock is owned by hedge funds and other institutional investors.
CVRR has been the subject of several analyst reports. BidaskClub raised shares of CVR Refining from a “hold” rating to a “buy” rating in a research note on Saturday, November 4th. ValuEngine raised shares of CVR Refining from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. Barclays raised shares of CVR Refining from an “underweight” rating to an “equal weight” rating and raised their price objective for the stock from $13.00 to $14.00 in a research note on Tuesday, November 14th. Zacks Investment Research lowered shares of CVR Refining from a “strong-buy” rating to a “hold” rating in a research report on Tuesday. Finally, Citigroup raised their target price on shares of CVR Refining from $13.00 to $16.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 24th. One research analyst has rated the stock with a sell rating, five have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $12.58.
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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