Other equities analysts have also issued reports about the company. Zacks Investment Research lowered CVR Refining from a strong-buy rating to a hold rating in a report on Tuesday, July 5th. Wolfe Research started coverage on CVR Refining in a report on Monday, June 20th. They issued a market perform rating for the company. Citigroup Inc. increased their price objective on CVR Refining from $7.00 to $9.00 and gave the stock a neutral rating in a report on Wednesday, September 14th. Barclays PLC increased their price objective on CVR Refining from $8.00 to $10.00 and gave the stock an overweight rating in a report on Tuesday, August 2nd. Finally, JPMorgan Chase & Co. reissued a sell rating on shares of CVR Refining in a report on Thursday, June 30th. Six analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a strong buy rating to the company. CVR Refining has a consensus rating of Hold and a consensus price target of $10.10.
CVR Refining (NYSE:CVRR) traded down 1.57% during mid-day trading on Thursday, hitting $8.80. The stock had a trading volume of 273,042 shares. The company has a 50-day moving average of $8.03 and a 200-day moving average of $8.99. The stock has a market cap of $1.30 billion, a price-to-earnings ratio of 49.16 and a beta of 1.34. CVR Refining has a 12-month low of $5.50 and a 12-month high of $22.74.
CVR Refining (NYSE:CVRR) last posted its 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 company had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.06 billion. The firm’s revenue for the quarter was down 24.8% compared to the same quarter last year. During the same period last year, the company posted $1.54 earnings per share. On average, analysts anticipate that CVR Refining will post $0.27 earnings per share for the current fiscal year.
In other news, Director Carl C. Icahn sold 250,000 shares of the stock in a transaction on Tuesday, August 2nd. The stock was sold at an average price of $5.70, for a total transaction of $1,425,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Large investors have recently made changes to their positions in the stock. Eqis Capital Management Inc. increased 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 during the period. Stifel Financial Corp increased its stake in shares of CVR Refining by 5.5% in the second quarter. Stifel Financial Corp now owns 26,841 shares of the company’s stock worth $208,000 after buying an additional 1,400 shares during the period. A.R.T. Advisors LLC bought a new stake in shares of CVR Refining during the second quarter worth approximately $149,000. Clinton Group Inc. bought a new stake in shares of CVR Refining during the second quarter worth approximately $116,000. Finally, Pacad Investment Ltd. bought a new stake in shares of CVR Refining during the second quarter worth approximately $216,000.
CVR Refining Company Profile
CVR Refining, LP is an independent downstream energy limited partnership. The Company has refining and related logistics assets that operate in the mid-continent region. The Company is a petroleum refiner and it owns approximately two refineries in the underserved Group 3 of the PADD II region of the United States.
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