Citigroup Lowers CVR Refining (CVRR) Price Target to $21.00
CVR Refining (NYSE:CVRR) had its price target cut by equities research analysts at Citigroup from $25.00 to $21.00 in a research note issued to investors on Wednesday, MarketBeat reports. The firm currently has a “hold” rating on the oil and gas company’s stock. Citigroup’s target price would indicate a potential upside of 15.07% from the company’s previous close.
CVRR has been the topic of a number of other reports. TheStreet upgraded shares of CVR Refining from a “c+” rating to a “b” rating in a report on Thursday, April 26th. Zacks Investment Research upgraded shares of CVR Refining from a “hold” rating to a “buy” rating and set a $18.00 target price on the stock in a report on Tuesday, April 24th. Tudor Pickering upgraded shares of CVR Refining from a “hold” rating to a “buy” rating in a report on Friday, May 18th. JPMorgan Chase & Co. boosted their target price on shares of CVR Refining from $22.00 to $24.00 and gave the stock a “neutral” rating in a report on Friday, July 27th. Finally, ValuEngine upgraded shares of CVR Refining from a “buy” rating to a “strong-buy” rating in a report on Friday, April 27th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company’s stock. CVR Refining presently has a consensus rating of “Hold” and a consensus price target of $19.36.
Shares of NYSE CVRR opened at $18.25 on Wednesday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.02 and a current ratio of 1.87. The firm has a market capitalization of $2.82 billion, a price-to-earnings ratio of 30.42 and a beta of 1.49. CVR Refining has a 52-week low of $6.75 and a 52-week high of $26.00.
Institutional investors have recently bought and sold shares of the company. Premia Global Advisors LLC purchased a new position in shares of CVR Refining during the 2nd quarter worth about $103,000. Arete Wealth Advisors LLC purchased a new position in shares of CVR Refining during the 1st quarter worth about $141,000. Koch Industries Inc. boosted its stake in shares of CVR Refining by 39.1% during the 1st quarter. Koch Industries Inc. now owns 17,993 shares of the oil and gas company’s stock worth $235,000 after purchasing an additional 5,062 shares during the period. Sheaff Brock Investment Advisors LLC purchased a new position in shares of CVR Refining during the 1st quarter worth about $248,000. Finally, First Allied Advisory Services Inc. purchased a new position in shares of CVR Refining during the 2nd quarter worth about $286,000. Hedge funds and other institutional investors own 15.54% of the company’s stock.
CVR Refining Company Profile
CVR Refining, LP operates as an independent petroleum refiner and marketer of transportation fuels in the United States. The company owns and operates a complex full coking medium-sour crude oil refinery in Coffeyville, Kansas; and a complex crude oil refinery in Wynnewood, Oklahoma. It also controls and operates logistics assets, including approximately 570 miles of owned and leased pipelines; approximately 130 crude oil transports; a network of crude oil gathering tank farms; and approximately 6.4 million barrels of owned and leased crude oil storage capacity, as well as approximately 4.6 million barrels of combined refined products and feedstocks storage capacity.
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