CVR Refining, LP (CVRR) Upgraded to Buy at BidaskClub

CVR Refining, LP (NYSE:CVRR) was upgraded by equities research analysts at BidaskClub from a “hold” rating to a “buy” rating in a report issued on Saturday.

CVRR has been the subject of a number of other reports. Zacks Investment Research upgraded shares of CVR Refining, from a “hold” rating to a “buy” rating and set a $11.00 price objective for the company in a research note on Wednesday, October 4th. ValuEngine upgraded shares of CVR Refining, from a “buy” rating to a “strong-buy” rating in a research note on Friday, July 7th. Tudor Pickering upgraded shares of CVR Refining, from a “hold” rating to a “buy” rating in a research note on Monday, October 9th. Citigroup Inc boosted their price objective on shares of CVR Refining, from $8.00 to $10.50 and gave the stock a “neutral” rating in a research note on Wednesday, October 18th. Finally, UBS Group AG (USA) restated a “neutral” rating and issued a $8.50 price objective (down from $10.00) on shares of CVR Refining, in a research note on Wednesday, August 2nd. One analyst has rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company. CVR Refining, has an average rating of “Hold” and an average target price of $10.38.

Shares of CVR Refining, (CVRR) opened at $12.50 on Friday. The stock has a market capitalization of $1.84 billion, a P/E ratio of 17.29 and a beta of 1.32. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.22 and a current ratio of 1.68.

CVR Refining, (NYSE:CVRR) last posted its 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. The company had revenue of $1.39 billion during the quarter, compared to the consensus estimate of $1.20 billion. CVR Refining, had a net margin of 1.98% and a return on equity of 8.02%. The company’s revenue for the quarter was up 19.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.11 earnings per share. equities analysts anticipate that CVR Refining, will post 1.05 EPS for the current fiscal year.

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A number of large investors have recently added to or reduced their stakes in the stock. Ameriprise Financial Inc. raised its stake in CVR Refining, by 1.9% during the 2nd quarter. Ameriprise Financial Inc. now owns 58,550 shares of the oil and gas company’s stock valued at $556,000 after purchasing an additional 1,100 shares during the last quarter. Alliancebernstein L.P. raised its stake 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 valued at $128,000 after purchasing an additional 1,705 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in CVR Refining, by 10.8% during the 1st quarter. PNC Financial Services Group Inc. now owns 20,550 shares of the oil and gas company’s stock valued at $195,000 after purchasing an additional 2,000 shares during the last quarter. California Public Employees Retirement System raised its stake in CVR Refining, by 3.3% during the 2nd quarter. California Public Employees Retirement System now owns 100,400 shares of the oil and gas company’s stock valued at $954,000 after purchasing an additional 3,200 shares during the last quarter. Finally, Stifel Financial Corp raised its stake in 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 valued at $385,000 after purchasing an additional 8,342 shares during the last quarter. Hedge funds and other institutional investors own 11.14% of the company’s stock.

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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