CVR Refining LP (CVRR) has been under a strong bear grip, hence the stock is down -26.42% when compared to the S&P 500 in the past 4 weeks. However, in the near-term, buying emerged at lower levels and the stock has outperformed the S&P 500 by 2.26% in the past 1 week. The stock has risen by 2.89% in the past week indicating that the buyers are active at lower levels, but the stock is down -21.45% in the past 4 weeks.
CVR Refining LP (NYSE:CVRR): The stock opened at $6.55 on Friday but the bulls could not build on the opening and the stock topped out at $6.62 for the day. The stock traded down to $6.21 during the day, due to lack of any buying support eventually closed down at $6.41 with a loss of -1.08% for the day. The stock had closed at $6.48 on the previous day. The total traded volume was 1,036,429 shares.
The stock has recorded a 20-day Moving Average of 8.43% and the 50-Day Moving Average is 26.8%. CVR Refining, LP has dropped 47.89% during the last 3-month period . Year-to-Date the stock performance stands at -66.14%.
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.