HITE Hedge Asset Management LLC Purchases 232,347 Shares of CVR Refining, LP (NYSE:CVRR)

HITE Hedge Asset Management LLC lifted its stake in CVR Refining, LP (NYSE:CVRR) by 22.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,276,154 shares of the oil and gas company’s stock after purchasing an additional 232,347 shares during the quarter. CVR Refining comprises about 3.2% of HITE Hedge Asset Management LLC’s holdings, making the stock its 8th largest holding. HITE Hedge Asset Management LLC owned 0.86% of CVR Refining worth $12,570,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Arrowstreet Capital Limited Partnership acquired a new stake in shares of CVR Refining in the second quarter valued at $8,935,000. Artemis Investment Management LLP purchased a new position in CVR Refining in the second quarter valued at $5,897,000. JPMorgan Chase & Co. boosted its holdings in CVR Refining by 15,870.2% in the second quarter. JPMorgan Chase & Co. now owns 540,433 shares of the oil and gas company’s stock valued at $5,135,000 after purchasing an additional 537,049 shares during the period. Acadian Asset Management LLC boosted its holdings in CVR Refining by 389.1% in the second quarter. Acadian Asset Management LLC now owns 572,644 shares of the oil and gas company’s stock valued at $5,442,000 after purchasing an additional 455,572 shares during the period. Finally, HAP Trading LLC purchased a new position in CVR Refining in the third quarter valued at $4,140,000. 12.82% of the stock is owned by hedge funds and other institutional investors.

A number of research analysts recently issued reports on the company. BidaskClub upgraded CVR Refining from a “sell” rating to a “hold” rating in a report on Saturday, September 9th. Zacks Investment Research raised CVR Refining from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 12th. Barclays lifted their price target on CVR Refining from $10.00 to $13.00 and gave the stock an “underweight” rating in a report on Thursday, November 2nd. Citigroup lifted their price target on CVR Refining from $8.00 to $10.50 and gave the stock a “neutral” rating in a report on Wednesday, October 18th. Finally, Tudor Pickering upgraded CVR Refining from a “hold” rating to a “buy” rating in a research report on Monday, October 9th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $11.29.

CVR Refining, LP (NYSE CVRR) traded down $0.30 during midday trading on Tuesday, reaching $13.10. The company’s stock had a trading volume of 329,036 shares, compared to its average volume of 457,183. The firm has a market cap of $1,911.42, a PE ratio of 17.99 and a beta of 1.40. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.86 and a quick ratio of 1.34. CVR Refining, LP has a 52 week low of $6.70 and a 52 week high of $13.65.

CVR Refining (NYSE:CVRR) last announced its quarterly earnings results on Wednesday, November 1st. The oil and gas company reported $0.47 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.23 by $0.24. CVR Refining had a return on equity of 7.90% and a net margin of 1.98%. The business had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.20 billion. During the same quarter in the previous year, the company earned $0.11 EPS. The company’s quarterly revenue was up 19.1% on a year-over-year basis. research analysts predict that CVR Refining, LP will post 1.53 earnings per share for the current year.

The firm also recently declared a special dividend, which was paid on Friday, November 17th. Shareholders of record on Friday, November 10th were paid a dividend of $0.94 per share. The ex-dividend date of this dividend was Thursday, November 9th. CVR Refining’s dividend payout ratio is presently 522.23%.

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CVR Refining Company Profile

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.

Institutional Ownership by Quarter for CVR Refining (NYSE:CVRR)

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