Piper Jaffray Maintains CVR Refining LP to Underweight with Price Target $6.00

Brokerage firm Piper Jaffray Maintains its rating on CVR Refining LP(NYSE:CVRR). In a research note issued to the investors, the brokerage major Raises the price-target to $6.00 per share. The shares have been rated Underweight. The rating by Piper Jaffray was issued on Sep 16, 2016.

In a different note, On Sep 14, 2016, Citigroup said it Maintains its rating on CVR Refining LP. In the research note, the firm Raises the price-target to $7.00 per share. The shares have been rated ‘Neutral’ by the firm. On Aug 22, 2016, Piper Jaffray said it Maintains its rating on CVR Refining LP. In the research note, the firm Raises the price-target to $4.00 per share. The shares have been rated ‘Underweight’ by the firm. On Aug 4, 2016, Barclays said it Downgrades its rating on CVR Refining LP. In the research note, the firm Lowers the price-target to $8.00 per share. The shares have been rated ‘Underweight’ by the firm. On Aug 2, 2016, Barclays said it Maintains its rating on CVR Refining LP. In the research note, the firm Lowers the price-target to $10.00 per share. The shares have been rated ‘Overweight’ by the firm. On Aug 1, 2016, Credit Suisse said it Downgrades its rating on CVR Refining LP. In the research note, the firm Lowers the price-target to $8.00 per share. The shares have been rated ‘Underperform’ by the firm.

CVR Refining LP (CVRR) made into the market gainers list on Thursdays trading session with the shares advancing 3.20% or 0.28 points. Due to strong positive momentum, the stock ended at $9.04, which is also near the day’s high of $9.18. The stock began the session at $8.87 and the volume stood at 5,42,165 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 $1,334 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 Aug 2, 2016, Carl C Icahn (director 10% owner) sold 250,000 shares at $5.70 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.

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