Could CVR Refining, LP (CVRR) Increase Even More? The Stock Formed Bullish Double Top Pattern

September 14, 2018 - By Vernon Prom

Investors sentiment increased to 1.06 in Q2 2018. Its up 0.37, from 0.69 in 2018Q1. It improved, as 16 investors sold CVR Refining, LP shares while 16 reduced holdings. 23 funds opened positions while 11 raised stakes. 20.76 million shares or 2.13% more from 20.33 million shares in 2018Q1 were reported.
Hite Hedge Asset Ltd has 1.15 million shares for 4.05% of their portfolio. California Public Employees Retirement owns 101,430 shares. Deutsche Commercial Bank Ag has 387,570 shares for 0.01% of their portfolio. Fmr Limited invested in 0% or 584,717 shares. Barclays Public reported 70,713 shares. Hotchkis And Wiley Capital Management Ltd Llc invested in 38,287 shares. Harvest Fund Advsrs Ltd has invested 0.01% in CVR Refining, LP (NYSE:CVRR). Northwestern Mutual Wealth Management holds 0% or 1,400 shares in its portfolio. Icahn Carl C owns 5.75M shares. Blackrock Inc reported 78,601 shares. Jefferies Llc reported 0.01% in CVR Refining, LP (NYSE:CVRR). Arrow Investment Advsr Llc stated it has 0.27% of its portfolio in CVR Refining, LP (NYSE:CVRR). Retail Bank Of Ny Mellon Corporation stated it has 220,000 shares. Invesco holds 0% of its portfolio in CVR Refining, LP (NYSE:CVRR) for 134,895 shares. Lenox Wealth Management reported 0% in CVR Refining, LP (NYSE:CVRR).

The chart of CVR Refining, LP (CVRR) shows a double top with $20.65 target or 5.00 % above today’s $19.67 share price. The 7 months chart pattern indicates low risk for the $2.90B company. It was reported on Sep, 14 by Finviz.com. If the $20.65 price target is reached, the company will be worth $145.15 million more. Double tops are rare but powerful chart patterns.

The stock decreased 2.15% or $0.432 during the last trading session, reaching $19.668. About 92,878 shares traded. CVR Refining, LP (NYSE:CVRR) has risen 126.11% since September 14, 2017 and is uptrending. It has outperformed by 110.49% the S&P500.

Analysts await CVR Refining, LP (NYSE:CVRR) to report earnings on November, 7. They expect $0.62 EPS, up 31.91 % or $0.15 from last year’s $0.47 per share. CVRR’s profit will be $91.51 million for 7.93 P/E if the $0.62 EPS becomes a reality. After $0.80 actual EPS reported by CVR Refining, LP for the previous quarter, Wall Street now forecasts -22.50 % negative EPS growth.

CVR Refining, LP (NYSE:CVRR) Ratings Coverage

Among 7 analysts covering CVR Refining (NYSE:CVRR), 2 have Buy rating, 0 Sell and 5 Hold. Therefore 29% are positive. CVR Refining had 11 analyst reports since April 10, 2018 according to SRatingsIntel. The stock of CVR Refining, LP (NYSE:CVRR) has “Hold” rating given on Wednesday, May 30 by Citigroup. Citigroup maintained CVR Refining, LP (NYSE:CVRR) on Friday, September 7 with “Neutral” rating. The stock has “Neutral” rating by Goldman Sachs on Friday, September 7. The stock of CVR Refining, LP (NYSE:CVRR) earned “Neutral” rating by Citigroup on Wednesday, August 15. The firm has “Neutral” rating by JP Morgan given on Friday, July 27. On Friday, May 18 the stock rating was upgraded by Tudor Pickering to “Buy”. The company was upgraded on Monday, May 7 by Goldman Sachs. The stock of CVR Refining, LP (NYSE:CVRR) earned “Equal-Weight” rating by Barclays Capital on Friday, April 27. The stock of CVR Refining, LP (NYSE:CVRR) earned “Neutral” rating by Credit Suisse on Monday, April 30.

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 operates as an independent petroleum refiner and marketer of transportation fuels in the United States. The company has market cap of $2.90 billion. It owns and operates a complex full coking medium-sour crude oil refinery in Coffeyville, Kansas. It has a 9.49 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.

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

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