CVR Refining, LP (NYSE:CVRR) was upgraded by investment analysts at BidaskClub from a “hold” rating to a “buy” rating in a note issued to investors on Saturday, November 4th.
A number of other research firms have also issued reports on CVRR. Barclays PLC increased their price target on CVR Refining, from $10.00 to $13.00 and gave the company an “underweight” rating in a research report on Thursday, November 2nd. ValuEngine upgraded CVR Refining, from a “hold” rating to a “buy” rating in a report on Wednesday, October 11th. Citigroup Inc. increased their price objective 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 upgraded CVR Refining, from a “hold” rating to a “buy” rating in a report on Monday, October 9th. Finally, Zacks Investment Research downgraded CVR Refining, from a “buy” rating to a “hold” rating in a report on Friday, October 6th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $10.81.
Shares of CVR Refining, (CVRR) opened at $11.90 on Friday. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.86 and a quick ratio of 1.34. The stock has a market capitalization of $1,749.06, a PE ratio of 16.46 and a beta of 1.32. CVR Refining, has a 12-month low of $6.70 and a 12-month high of $13.21.
CVR Refining, (NYSE:CVRR) last posted its quarterly earnings results on Wednesday, November 1st. The oil and gas company reported $0.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.24. The company had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.20 billion. CVR Refining, had a return on equity of 7.90% and a net margin of 1.98%. CVR Refining,’s revenue for the quarter was up 19.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.11 EPS. equities research analysts expect that CVR Refining, will post 1.53 earnings per share for the current fiscal year.
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A number of large investors have recently added to or reduced their stakes in CVRR. Wells Fargo & Company MN grew its stake in CVR Refining, by 17.7% during the 1st quarter. Wells Fargo & Company MN now owns 75,257 shares of the oil and gas company’s stock worth $711,000 after buying an additional 11,343 shares during the last quarter. Alliancebernstein L.P. purchased a new position in CVR Refining, during the 1st quarter worth approximately $112,000. Wellington Management Group LLP purchased a new position in CVR Refining, during the 1st quarter worth approximately $2,745,000. PNC Financial Services Group Inc. grew its stake in 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 worth $195,000 after buying an additional 2,000 shares during the last quarter. Finally, Morgan Stanley grew its stake in CVR Refining, by 36.1% during the 1st 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 last quarter. Hedge funds and other institutional investors own 10.78% 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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