Brokerage firm Credit Suisse Downgrades its rating on CVR Refining LP(NYSE:CVRR). In a research note issued to the investors, the brokerage major Lowers the price-target to $6.00 per share. The shares have been rated Underperform. Previously, the analysts had a Neutral rating on the shares. The rating by Credit Suisse was issued on Aug 1, 2016.
In a different note, On Jun 10, 2016, JP Morgan said it Downgrades its rating on CVR Refining LP. The shares have been rated ‘Underweight’ by the firm. On Jun 10, 2016, JP Morgan said it Maintains its rating on CVR Refining LP. In the research note, the firm Lowers the price-target to $11.00 per share. The shares have been rated ‘Underweight’ by the firm. UBS said it Initiates Coverage on CVR Refining LP, according to a research note issued on May 19, 2016. The shares have been rated ‘Neutral’ by the firm.
CVR Refining LP (CVRR) made into the market gainers list on Mondays trading session with the shares advancing 1.44% or 0.09 points. Due to strong positive momentum, the stock ended at $6.33, which is also near the day’s high of $6.48. The stock began the session at $6.25 and the volume stood at 5,19,367 shares. The 52-week high of the shares is $22.74 and the 52 week low is $5.5. The company has a current market capitalization of $934 M and it has 14,76,00,000 shares in outstanding.
CVR Refining LP(CVRR) last announced its earnings results on Jul 28, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $1.16B. Analysts had an estimated revenue of $1.06B. Earnings per share were $0.53. Analysts had estimated an EPS of $0.30.
Several Insider Transactions has been reported to the SEC. On Oct 5, 2015, Carl C Icahn (director 10% owner) sold 9,036 shares at $16.13 per share price.Also, On Feb 26, 2015, Robert W Haugen (EVP, Refining Operations) sold 4,000 shares at $18.59 per share price.
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. It owns two refineries in the underserved Group 3 of the PADD II region of the United States. It owns and operates a full coking medium-sour crude oil refinery in Coffeyville Kansas and a crude oil refinery in Wynnewood Oklahoma. In addition the Company also controls and operates supporting logistics assets including owned and leased pipelines owned crude oil transports a network of crude oil gathering tank farms owned and leased crude oil storage capacity and combined refinery related storage capacity. It processes a variety of crudes including West Texas sour (WTS) West Texas intermediate (WTI) sweet and sour Canadian and locally gathered crudes. The Company offers refined products primarily to retailers railroads and farm cooperatives and other refiners/marketers in Group 3 of the PADD II region.