What Will The Effects of a Goldman Downgrade Be For CVR Refining (NYSE:CVRR) Shares?

September 8, 2018 - By Kristin Houston

Investors sentiment decreased to 0.69 in Q1 2018. Its down 0.41, from 1.1 in 2017Q4. It turned negative, as 14 investors sold CVR Refining, LP shares while 18 reduced holdings. 4 funds opened positions while 18 raised stakes. 20.33 million shares or 7.88% more from 18.84 million shares in 2017Q4 were reported.

Susquehanna Gp Limited Liability Partnership stated it has 39,055 shares or 0% of all its holdings. Bank Of America De holds 0% of its portfolio in CVR Refining, LP (NYSE:CVRR) for 535,940 shares. Lpl Fin Limited Liability Corporation owns 63,632 shares. Citadel Advsrs Limited holds 0% of its portfolio in CVR Refining, LP (NYSE:CVRR) for 88,647 shares. Horizon Kinetics Limited Co has 24,521 shares. San Francisco Sentry Inv Group (Ca) holds 0% or 946 shares in its portfolio. Koch Indus holds 0.02% of its portfolio in CVR Refining, LP (NYSE:CVRR) for 17,993 shares. 220,000 were reported by National Bank Of Ny Mellon. Jefferies Grp has 56,000 shares for 0.05% of their portfolio. Bank Of Montreal Can reported 268,322 shares. 4,000 are held by Bessemer Group. Us Bank De holds 1,500 shares or 0% of its portfolio. Guggenheim Capital Ltd Liability has 0% invested in CVR Refining, LP (NYSE:CVRR). Regions Finance Corp invested in 0% or 450 shares. Credit Suisse Ag invested in 545,246 shares or 0.01% of the stock.

CVR Refining (NYSE:CVRR) Receives a Downgrade

Goldman cut the rating for shares of CVR Refining (NYSE:CVRR) to aNeutral from a Buy. The rating change was sent to investors in an analyst report earlier today.

CVR Refining, LP (NYSE:CVRR) Ratings Coverage

Among 7 analysts covering CVR Refining (NYSE:CVRR), 3 have Buy rating, 0 Sell and 4 Hold. Therefore 43% are positive. CVR Refining has $27 highest and $14 lowest target. $22’s average target is 9.18% above currents $20.15 stock price. CVR Refining had 9 analyst reports since April 10, 2018 according to SRatingsIntel. The firm earned “Equal-Weight” rating on Friday, April 27 by Barclays Capital. The company was maintained on Monday, April 30 by Credit Suisse. The rating was upgraded by Tudor Pickering on Friday, May 18 to “Buy”. The stock of CVR Refining, LP (NYSE:CVRR) has “Buy” rating given on Monday, May 7 by Goldman Sachs. The rating was maintained by Citigroup on Wednesday, August 15 with “Neutral”. Citigroup downgraded it to “Hold” rating and $2500 target in Wednesday, May 30 report. As per Friday, July 27, the company rating was maintained by JP Morgan.

The stock decreased 3.12% or $0.65 during the last trading session, reaching $20.15. About 349,583 shares traded. CVR Refining, LP (NYSE:CVRR) has risen 125.51% since September 8, 2017 and is uptrending. It has outperformed by 112.94% the S&P500.

Analysts await CVR Refining, LP (NYSE:CVRR) to report earnings on November, 7. They expect $0.62 earnings per share, up 31.91 % or $0.15 from last year’s $0.47 per share. CVRR’s profit will be $91.51M for 8.13 P/E if the $0.62 EPS becomes a reality. After $0.80 actual earnings per share reported by CVR Refining, LP for the previous quarter, Wall Street now forecasts -22.50 % negative EPS growth.

CVR Refining, LP operates as an independent petroleum refiner and marketer of transportation fuels in the United States. The company has market cap of $2.97 billion. It owns and operates a complex full coking medium-sour crude oil refinery in Coffeyville, Kansas. It has a 9.72 P/E ratio. The firm also controls and operates logistics assets, including approximately 340 miles of owned and leased pipelines; approximately 150 owned 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 4.5 million barrels of combined refined products and feedstocks storage capacity.

Another recent and important CVR Refining, LP (NYSE:CVRR) news was published by Seekingalpha.com which published an article titled: “Q2 ’18 Recap And The Barbell Profile Of MLP Distribution Growth” on August 22, 2018.

CVR Refining, LP (NYSE:CVRR) Institutional Positions Chart

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