BidaskClub Downgrades CVR Refining, LP (CVRR) to Buy

CVR Refining, LP (NYSE:CVRR) was downgraded by analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a research note issued on Thursday.

CVRR has been the subject of a number of other research reports. Zacks Investment Research raised shares of CVR Refining, from a “hold” rating to a “buy” rating and set a $11.00 price objective for the company in a report on Wednesday, October 4th. ValuEngine raised shares of CVR Refining, from a “buy” rating to a “strong-buy” rating in a research report on Friday, July 7th. Tudor Pickering raised shares of CVR Refining, from a “hold” rating to a “buy” rating in a research report on Monday, October 9th. Citigroup Inc. upped their target price on shares of CVR Refining, from $8.00 to $10.50 and gave the company a “neutral” rating in a research report on Wednesday. Finally, UBS AG reaffirmed a “neutral” rating and issued a $8.50 target price (down previously from $10.00) on shares of CVR Refining, in a research report on Wednesday, August 2nd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company. CVR Refining, currently has a consensus rating of “Hold” and a consensus target price of $10.00.

Shares of CVR Refining, (CVRR) opened at 10.80 on Thursday. The stock has a 50 day moving average of $9.77 and a 200 day moving average of $9.22. CVR Refining, has a 12-month low of $6.45 and a 12-month high of $12.55. The company has a market cap of $1.59 billion, a price-to-earnings ratio of 30.08 and a beta of 1.28.

CVR Refining, (NYSE:CVRR) last announced its quarterly earnings data on Thursday, July 27th. The oil and gas company reported ($0.13) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.17 by ($0.30). CVR Refining, had a net margin of 1.02% and a return on equity of 3.99%. The firm had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.23 billion. During the same period in the prior year, the company posted $0.53 EPS. The company’s revenue for the quarter was up 14.9% compared to the same quarter last year. Equities research analysts predict that CVR Refining, will post $0.71 earnings per share for the current fiscal year.

COPYRIGHT VIOLATION NOTICE: This report was originally reported by The Ledger Gazette and is owned by of The Ledger Gazette. If you are accessing this report on another publication, it was illegally copied and republished in violation of U.S. & international copyright law. The original version of this report can be read at https://ledgergazette.com/2017/10/21/bidaskclub-downgrades-cvr-refining-lp-cvrr-to-buy.html.

Several institutional investors and hedge funds have recently modified their holdings of the company. Morgan Stanley lifted its position in shares of CVR Refining, by 36.1% during the first quarter. Morgan Stanley now owns 2,004,627 shares of the oil and gas company’s stock worth $18,945,000 after purchasing an additional 531,355 shares in the last quarter. Bank of America Corp DE lifted its position in shares of CVR Refining, by 39.1% during the first quarter. Bank of America Corp DE now owns 1,131,430 shares of the oil and gas company’s stock worth $10,692,000 after purchasing an additional 318,126 shares in the last quarter. HITE Hedge Asset Management LLC acquired a new stake in shares of CVR Refining, during the second quarter worth about $9,916,000. Arrowstree

CVRR has been the subject of a number of other research reports. Zacks Investment Research raised shares of CVR Refining, from a “hold” rating to a “buy” rating and set a $11.00 price objective for the company in a report on Wednesday, October 4th. ValuEngine raised shares of CVR Refining, from a “buy” rating to a “strong-buy” rating in a research report on Friday, July 7th. Tudor Pickering raised shares of CVR Refining, from a “hold” rating to a “buy” rating in a research report on Monday, October 9th. Citigroup Inc. upped their target price on shares of CVR Refining, from $8.00 to $10.50 and gave the company a “neutral” rating in a research report on Wednesday. Finally, UBS AG reaffirmed a “neutral” rating and issued a $8.50 target price (down previously from $10.00) on shares of CVR Refining, in a research report on Wednesday, August 2nd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company. CVR Refining, currently has a consensus rating of “Hold” and a consensus target price of $10.00.

Shares of CVR Refining, (CVRR) opened at 10.80 on Thursday. The stock has a 50 day moving average of $9.77 and a 200 day moving average of $9.22. CVR Refining, has a 12-month low of $6.45 and a 12-month high of $12.55. The company has a market cap of $1.59 billion, a price-to-earnings ratio of 30.08 and a beta of 1.28.

CVR Refining, (NYSE:CVRR) last announced its quarterly earnings data on Thursday, July 27th. The oil and gas company reported ($0.13) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.17 by ($0.30). CVR Refining, had a net margin of 1.02% and a return on equity of 3.99%. The firm had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.23 billion. During the same period in the prior year, the company posted $0.53 EPS. The company’s revenue for the quarter was up 14.9% compared to the same quarter last year. Equities research analysts predict that CVR Refining, will post $0.71 earnings per share for the current fiscal year.

COPYRIGHT VIOLATION NOTICE: This report was originally reported by The Ledger Gazette and is owned by of The Ledger Gazette. If you are accessing this report on another publication, it was illegally copied and republished in violation of U.S. & international copyright law. The original version of this report can be read at https://ledgergazette.com/2017/10/21/bidaskclub-downgrades-cvr-refining-lp-cvrr-to-buy.html.

Several institutional investors and hedge funds have recently modified their holdings of the company. Morgan Stanley lifted its position in shares of CVR Refining, by 36.1% during the first quarter. Morgan Stanley now owns 2,004,627 shares of the oil and gas company’s stock worth $18,945,000 after purchasing an additional 531,355 shares in the last quarter. Bank of America Corp DE lifted its position in shares of CVR Refining, by 39.1% during the first quarter. Bank of America Corp DE now owns 1,131,430 shares of the oil and gas company’s stock worth $10,692,000 after purchasing an additional 318,126 shares in the last quarter. HITE Hedge Asset Management LLC acquired a new stake in shares of CVR Refining, during the second quarter worth about $9,916,000. Arrowstreet Capital Limited Partnership acquired a new stake in shares of CVR Refining, during the second quarter worth about $8,935,000. Finally, Artemis Investment Management LLP acquired a new stake in shares of CVR Refining, during the second quarter worth about $5,897,000. 10.98% of the stock is currently owned by institutional investors and hedge funds.

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)

Receive News & Ratings for CVR Refining LP Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CVR Refining LP and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply