CVR Refining Sees Unusually Large Options Volume (CVRR)

CVR Refining, LP (NYSE:CVRR) was the target of some unusual options trading on Tuesday. Investors bought 730 put options on the stock. This represents an increase of 1,023% compared to the average volume of 65 put options.

Shares of CVR Refining (NYSE:CVRR) opened at $17.35 on Friday. The company has a current ratio of 1.86, a quick ratio of 1.34 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $2,560.00, a price-to-earnings ratio of 23.77 and a beta of 1.37. CVR Refining has a twelve month low of $6.70 and a twelve month high of $17.42.

CVR Refining (NYSE:CVRR) last issued its quarterly earnings results on Wednesday, November 1st. The oil and gas company reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.24. The business had revenue of $1.39 billion for the quarter, compared to the consensus estimate of $1.20 billion. CVR Refining had a return on equity of 7.90% and a net margin of 1.98%. The business’s quarterly revenue was up 19.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.11 earnings per share. equities analysts forecast that CVR Refining will post 1.45 EPS for the current year.

Several equities analysts have recently commented on CVRR shares. Barclays restated a “hold” rating and issued a $17.00 price objective on shares of CVR Refining in a research report on Wednesday. Zacks Investment Research raised CVR Refining from a “hold” rating to a “buy” rating and set a $11.00 target price on the stock in a report on Wednesday, October 4th. BidaskClub raised CVR Refining from a “hold” rating to a “buy” rating in a report on Thursday, September 28th. ValuEngine raised CVR Refining from a “hold” rating to a “buy” rating in a research note on Wednesday, October 11th. Finally, UBS Group cut CVR Refining from a “neutral” rating to a “sell” rating and boosted their price objective for the stock from $8.50 to $10.50 in a research note on Wednesday, November 15th. One analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the stock. CVR Refining has an average rating of “Hold” and an average price target of $11.71.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CVRR. Alliancebernstein L.P. grew its position in CVR Refining by 14.4% during the 2nd quarter. Alliancebernstein L.P. now owns 13,515 shares of the oil and gas company’s stock worth $128,000 after purchasing an additional 1,705 shares during the period. Hotchkis & Wiley Capital Management LLC acquired a new stake in CVR Refining during the 3rd quarter worth about $185,000. Stifel Financial Corp boosted its stake in shares of CVR Refining by 26.8% during the 2nd quarter. Stifel Financial Corp now owns 39,499 shares of the oil and gas company’s stock worth $385,000 after acquiring an additional 8,342 shares in the last quarter. Regal Investment Advisors LLC boosted its stake in shares of CVR Refining by 10.9% during the 3rd quarter. Regal Investment Advisors LLC now owns 41,637 shares of the oil and gas company’s stock worth $410,000 after acquiring an additional 4,100 shares in the last quarter. Finally, GSA Capital Partners LLP purchased a new stake in shares of CVR Refining during the 2nd quarter worth about $439,000. 12.80% of the stock is currently owned by hedge funds and other institutional investors.

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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.

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