UBS AG Reiterates “Neutral” Rating for CVR Refining, LP (CVRR)
UBS AG restated their neutral rating on shares of CVR Refining, LP (NYSE:CVRR) in a research note issued to investors on Tuesday morning, www.flashratings.com reports. They currently have a $8.50 target price on the oil and gas company’s stock, down from their previous target price of $10.00.
Several other equities research analysts also recently weighed in on CVRR. BidaskClub downgraded shares of CVR Refining, from a hold rating to a sell rating in a research report on Monday, July 31st. Citigroup Inc. reissued a neutral rating and set a $8.00 price target on shares of CVR Refining, in a research report on Wednesday, August 2nd. Zacks Investment Research downgraded shares of CVR Refining, from a hold rating to a sell rating in a research report on Tuesday, July 11th. ValuEngine raised shares of CVR Refining, from a hold rating to a buy rating in a research report on Tuesday, June 13th. Finally, Credit Suisse Group downgraded shares of CVR Refining, from an outperform rating to a neutral rating and set a $10.00 price target for the company. in a research report on Tuesday, June 20th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a strong buy rating to the company. The company currently has an average rating of Hold and an average target price of $9.56.
Shares of CVR Refining, (CVRR) traded down 1.46% during trading on Tuesday, hitting $6.75. The stock had a trading volume of 445,588 shares. The firm has a market cap of $996.30 million, a PE ratio of 18.80 and a beta of 1.28. The stock has a 50 day moving average of $8.67 and a 200 day moving average of $9.74. CVR Refining, has a 52-week low of $6.21 and a 52-week high of $12.55.
CVR Refining, (NYSE:CVRR) last announced its quarterly earnings results on Thursday, July 27th. The oil and gas company reported ($0.13) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.17 by $0.30. The firm had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.23 billion. CVR Refining, had a net margin of 1.02% and a return on equity of 3.99%. CVR Refining,’s revenue was up 14.9% on a year-over-year basis. During the same period last year, the business earned $0.53 EPS. On average, equities analysts anticipate that CVR Refining, will post $0.14 EPS for the current year.
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Large investors have recently modified their holdings of the company. HighTower Advisors LLC bought a new stake in shares of CVR Refining, during the first quarter valued at about $100,000. Alliancebernstein L.P. bought a new stake in shares of CVR Refining, during the first quarter valued at about $112,000. PNC Financial Services Group Inc. boosted its stake in shares of CVR Refining, by 10.8% in the first quarter. PNC Financial Services Group Inc. now owns 20,550 shares of the oil and gas company’s stock valued at $195,000 after buying an additional 2,000 shares in the last quarter. Airain ltd bought a new stake in shares of CVR Refining, during the first quarter valued at about $196,000. Finally, Clinton Group Inc. boosted its stake in shares of CVR Refining, by 58.7% in the first quarter. Clinton Group Inc. now owns 27,868 shares of the oil and gas company’s stock valued at $263,000 after buying an additional 10,303 shares in the last quarter. Institutional investors own 11.55% 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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