Barclays PLC reissued their underweight rating on shares of CVR Refining LP (NYSE:CVRR) in a research note released on Monday morning. The brokerage currently has a $9.00 price objective on the stock, up from their previous price objective of $6.00.
A number of other analysts also recently issued reports on CVRR. Zacks Investment Research raised shares of CVR Refining from a strong sell rating to a hold rating in a report on Tuesday, July 26th. JPMorgan Chase & Co. reaffirmed a sell rating on shares of CVR Refining in a report on Thursday, June 30th. Goldman Sachs Group Inc. reaffirmed a sell rating on shares of CVR Refining in a report on Wednesday, June 29th. TheStreet raised shares of CVR Refining from a sell rating to a hold rating in a report on Thursday, October 6th. Finally, Simmons downgraded shares of CVR Refining from a neutral rating to an underweight rating and dropped their price objective for the stock from $8.00 to $3.00 in a report on Friday, July 1st. Six equities research analysts have rated the stock with a sell rating, three have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of Hold and an average price target of $9.99.
Shares of CVR Refining (NYSE:CVRR) opened at 8.93 on Monday. The company has a market cap of $1.32 billion, a PE ratio of 49.89 and a beta of 1.34. The firm’s 50-day moving average is $8.25 and its 200-day moving average is $8.91. CVR Refining has a 12 month low of $5.50 and a 12 month high of $22.74.
CVR Refining (NYSE:CVRR) last announced its quarterly earnings results on Thursday, July 28th. The company reported $0.53 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.30 by $0.23. The firm earned $1.16 billion during the quarter, compared to the consensus estimate of $1.06 billion. During the same period in the previous year, the business earned $1.54 earnings per share. The firm’s revenue for the quarter was down 24.8% on a year-over-year basis. On average, equities research analysts predict that CVR Refining will post $0.27 earnings per share for the current year.
In other CVR Refining news, Director Carl C. Icahn sold 250,000 shares of the business’s stock in a transaction dated Tuesday, August 2nd. The shares were sold at an average price of $5.70, for a total value of $1,425,000.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.
Institutional investors have recently made changes to their positions in the stock. Private Capital Management Inc. boosted its position in shares of CVR Refining by 21.2% in the second quarter. Private Capital Management Inc. now owns 35,150 shares of the company’s stock valued at $272,000 after buying an additional 6,150 shares in the last quarter. Accident Compensation Corp boosted its position in shares of CVR Refining by 30.1% in the second quarter. Accident Compensation Corp now owns 86,272 shares of the company’s stock valued at $669,000 after buying an additional 19,965 shares in the last quarter. Emerald Acquisition Ltd. bought a new position in shares of CVR Refining during the second quarter valued at about $1,183,000. Arrow Investment Advisors LLC boosted its position in shares of CVR Refining by 73.3% in the second quarter. Arrow Investment Advisors LLC now owns 52,641 shares of the company’s stock valued at $408,000 after buying an additional 22,260 shares in the last quarter. Finally, Bank of Montreal Can bought a new position in shares of CVR Refining during the second quarter valued at about $868,000.
CVR Refining Company Profile