CVR Refining, LP (CVRR) Lifted to Buy at BidaskClub

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.

Analyst Recommendations for CVR Refining, (NYSE:CVRR)

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