CVR Refining LP (CVRR) Received Average Rating of “Hold” from Brokerages

CVR Refining LP (CVRR) Received Average Rating of “Hold” from Brokerages

Shares of CVR Refining LP (NYSE:CVRR) have earned a consensus recommendation of “Hold” from the ten ratings firms that are presently covering the firm. Three research analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation and one has given a buy recommendation to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $10.00.

A number of brokerages have weighed in on CVRR. JPMorgan Chase & Co. lowered shares of CVR Refining from an “overweight” rating to a “neutral” rating and cut their price target for the company from $12.50 to $11.00 in a research note on Thursday, March 9th. Barclays PLC reaffirmed a “sell” rating and issued a $10.00 price target on shares of CVR Refining in a research note on Wednesday, January 11th. TheStreet raised shares of CVR Refining from a “d+” rating to a “c-” rating in a research note on Thursday, February 16th. Goldman Sachs Group Inc raised shares of CVR Refining from a “sell” rating to a “neutral” rating and set a $12.00 price target on the stock in a research note on Monday, January 23rd. Finally, Zacks Investment Research lowered shares of CVR Refining from a “hold” rating to a “sell” rating in a research note on Friday, March 24th.

Several hedge funds have recently made changes to their positions in the company. Livingston Group Asset Management CO operating as Southport Capital Management raised its stake in shares of CVR Refining by 1.1% in the third quarter. Livingston Group Asset Management CO operating as Southport Capital Management now owns 14,395 shares of the company’s stock worth $126,000 after buying an additional 150 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in shares of CVR Refining by 16.5% in the third quarter. PNC Financial Services Group Inc. now owns 14,100 shares of the company’s stock worth $124,000 after buying an additional 2,000 shares in the last quarter. Eqis Capital Management Inc. raised its stake in shares of CVR Refining by 34.2% in the third quarter. Eqis Capital Management Inc. now owns 13,590 shares of the company’s stock worth $119,000 after buying an additional 3,465 shares in the last quarter. Global X Management Co. LLC raised its stake in shares of CVR Refining by 28.6% in the third quarter. Global X Management Co. LLC now owns 18,076 shares of the company’s stock worth $159,000 after buying an additional 4,021 shares in the last quarter. Finally, Koch Industries Inc. acquired a new stake in shares of CVR Refining during the fourth quarter worth approximately $117,000. 6.50% of the stock is currently owned by institutional investors and hedge funds.

CVR Refining (NYSE:CVRR) opened at 9.45 on Monday. The company has a 50-day moving average of $10.41 and a 200-day moving average of $9.66. The firm has a market capitalization of $1.39 billion, a price-to-earnings ratio of 90.87 and a beta of 1.34. CVR Refining has a 1-year low of $5.50 and a 1-year high of $13.25.

CVR Refining (NYSE:CVRR) last announced its quarterly earnings results on Thursday, February 16th. The company reported ($0.07) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.08) by $0.01. CVR Refining had a negative net margin of 2.34% and a negative return on equity of 7.55%. The firm had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.18 million. During the same quarter in the previous year, the firm posted ($0.83) earnings per share. The business’s revenue was up 33.9% on a year-over-year basis. On average, equities analysts predict that CVR Refining will post $0.70 earnings per share for the current year.

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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