CVR Refining, LP (CVRR) Upgraded by BidaskClub to Buy
BidaskClub upgraded shares of CVR Refining, LP (NYSE:CVRR) from a hold rating to a buy rating in a research note published on Thursday.
A number of other research firms have also recently commented on CVRR. Zacks Investment Research upgraded CVR Refining, from a strong sell rating to a hold rating in a research report on Tuesday, September 12th. ValuEngine raised CVR Refining, from a buy rating to a strong-buy rating in a research report on Friday, July 7th. Credit Suisse Group cut CVR Refining, from an outperform rating to a neutral rating and set a $10.00 target price on the stock. in a research report on Tuesday, June 20th. Citigroup Inc. restated a neutral rating and set a $8.00 price target on shares of CVR Refining, in a research note on Wednesday, August 2nd. Finally, UBS AG restated a neutral rating and set a $8.50 price target (down from $10.00) on shares of CVR Refining, in a research note on Wednesday, August 2nd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus price target of $9.56.
Shares of CVR Refining, (NYSE CVRR) opened at 9.85 on Thursday. CVR Refining, has a 52 week low of $6.45 and a 52 week high of $12.55. The company has a market capitalization of $1.45 billion, a PE ratio of 27.44 and a beta of 1.28. The company has a 50-day moving average price of $7.90 and a 200-day moving average price of $9.16.
CVR Refining, (NYSE:CVRR) last released its quarterly earnings results 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 firm had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.23 billion. CVR Refining, had a net margin of 1.02% and a return on equity of 3.99%. CVR Refining,’s quarterly revenue was up 14.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.53 earnings per share. Analysts predict that CVR Refining, will post $0.25 earnings per share for the current year.
A number of institutional investors and hedge funds have recently modified their holdings of CVRR. Morgan Stanley raised its stake in shares of 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 worth $18,945,000 after buying an additional 531,355 shares during the period. Bank of America Corp DE lifted its position in shares of CVR Refining, by 39.1% during the 1st quarter. Bank of America Corp DE now owns 1,131,430 shares of the oil and gas company’s stock valued at $10,692,000 after buying an additional 318,126 shares in the last quarter. HITE Hedge Asset Management LLC purchased a new position in shares of CVR Refining, during the 2nd quarter valued at about $9,916,000. Arrowstreet Capital Limited Partnership purchased a new position in shares of CVR Refining, during the 2nd quarter valued at about $8,935,000. Finally, Artemis Investment Management LLP purchased a new position in shares of CVR Refining, during the 2nd quarter valued at about $5,897,000. Institutional investors and hedge funds 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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