CVR Refining, LP (NYSE:CVRR) had its target price upped by Barclays PLC from $10.00 to $13.00 in a report released on Thursday morning. Barclays PLC currently has an underweight rating on the oil and gas company’s stock.
Several other equities research analysts have also commented on the stock. 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. BidaskClub upgraded shares of CVR Refining, from a sell rating to a hold rating in a research note on Saturday, September 9th. Zacks Investment Research lowered shares of CVR Refining, from a buy rating to a hold rating in a research note on Friday, October 6th. Finally, Citigroup Inc. decreased their price objective on shares of CVR Refining, from $11.00 to $10.00 and set a neutral rating for the company in a research note on Monday, July 17th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus price target of $10.38.
CVR Refining, (CVRR) traded up $0.05 during trading hours on Thursday, reaching $12.50. 282,062 shares of the company’s stock traded hands, compared to its average volume of 581,434. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.22 and a current ratio of 1.68. The stock has a market cap of $1,845.00, a price-to-earnings ratio of 17.36 and a beta of 1.32. CVR Refining, has a 52-week low of $6.66 and a 52-week high of $12.85.
CVR Refining, (NYSE:CVRR) last posted its quarterly earnings data on Wednesday, November 1st. The oil and gas company reported $0.47 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.23 by $0.24. The firm had revenue of $1.39 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter last year, the business posted $0.11 EPS. analysts expect that CVR Refining, will post 1.05 earnings per share for the current year.
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The business also recently declared a special dividend, which will be paid on Friday, November 17th. Stockholders of record on Friday, November 10th will be paid a dividend of $0.94 per share. The ex-dividend date of this dividend is Thursday, November 9th.
Several hedge funds have recently modified their holdings of CVRR. HITE Hedge Asset Management LLC purchased a new stake in shares of CVR Refining, during the 2nd quarter worth approximately $9,916,000. Arrowstreet Capital Limited Partnership bought a new position in CVR Refining, in the 2nd quarter worth approximately $8,935,000. Artemis Investment Management LLP bought a new position in CVR Refining, in the 2nd quarter worth approximately $5,897,000. JPMorgan Chase & Co. boosted its holdings in CVR Refining, by 15,870.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 540,433 shares of the oil and gas company’s stock worth $5,135,000 after buying an additional 537,049 shares during the period. Finally, Morgan Stanley boosted its holdings in CVR Refining, by 36.1% in the 1st quarter. Morgan Stanley now owns 2,004,627 shares of the oil and gas company’s stock worth $18,945,000 after buying an additional 531,355 shares during the period. Institutional investors own 11.14% 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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