CVR Refining (CVRR) Stock Rating Lowered by Citigroup

CVR Refining (NYSE:CVRR) was downgraded by equities researchers at Citigroup from a “buy” rating to a “neutral” rating in a note issued to investors on Wednesday, MarketBeat.com reports. They currently have a $25.00 target price on the oil and gas company’s stock. Citigroup’s target price would suggest a potential upside of 10.38% from the company’s current price.

A number of other research analysts have also recently commented on the stock. Goldman Sachs Group upgraded shares of CVR Refining from a “neutral” rating to a “buy” rating in a research note on Monday, May 7th. ValuEngine upgraded shares of CVR Refining from a “hold” rating to a “buy” rating in a research note on Monday, April 2nd. Zacks Investment Research upgraded shares of CVR Refining from a “strong sell” rating to a “hold” rating and set a $18.00 price target for the company in a research note on Tuesday, April 17th. Credit Suisse Group initiated coverage on shares of CVR Refining in a research note on Monday, April 9th. They set a “neutral” rating and a $14.00 price target for the company. Finally, Tudor Pickering cut shares of CVR Refining from a “buy” rating to a “hold” rating in a research note on Monday, February 26th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $17.70.

Shares of CVR Refining opened at $22.65 on Wednesday, according to MarketBeat Ratings. The stock has a market cap of $3.54 billion, a price-to-earnings ratio of 37.75 and a beta of 1.32. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.74 and a quick ratio of 0.88. CVR Refining has a 12 month low of $6.70 and a 12 month high of $26.00.

CVR Refining (NYSE:CVRR) last announced its quarterly earnings results on Thursday, April 26th. The oil and gas company reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.19. The firm had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.18 billion. CVR Refining had a net margin of 2.96% and a return on equity of 8.19%. The company’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.45 earnings per share. sell-side analysts anticipate that CVR Refining will post 2.13 earnings per share for the current fiscal year.

Large investors have recently bought and sold shares of the company. Brightline Capital Management LLC bought a new position in shares of CVR Refining in the fourth quarter valued at approximately $13,240,000. Bramshill Investments LLC bought a new position in shares of CVR Refining in the fourth quarter valued at approximately $1,227,000. Deutsche Bank AG raised its stake in shares of CVR Refining by 23.6% in the fourth quarter. Deutsche Bank AG now owns 675,012 shares of the oil and gas company’s stock valued at $11,171,000 after acquiring an additional 129,012 shares during the last quarter. Cetera Advisors LLC bought a new position in shares of CVR Refining in the fourth quarter valued at approximately $261,000. Finally, Bank of Montreal Can raised its stake in shares of CVR Refining by 14.2% in the fourth quarter. Bank of Montreal Can now owns 46,489 shares of the oil and gas company’s stock valued at $769,000 after acquiring an additional 5,789 shares during the last quarter. Institutional investors own 15.28% of the company’s stock.

About CVR Refining

CVR Refining, LP operates as an independent petroleum refiner and marketer of transportation fuels in the United States. The company owns and operates a complex full coking medium-sour crude oil refinery in Coffeyville, Kansas; and a complex crude oil refinery in Wynnewood, Oklahoma. It also controls and operates logistics assets, including approximately 570 miles of owned and leased pipelines; approximately 130 crude oil transports; a network of crude oil gathering tank farms; and approximately 6.4 million barrels of owned and leased crude oil storage capacity, as well as approximately 4.6 million barrels of combined refined products and feedstocks storage capacity.

Analyst Recommendations for CVR Refining (NYSE:CVRR)

Receive News & Ratings for CVR Refining Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CVR Refining and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply