Noteworthy Price Action: What’s Next for CVR Refining LP After Today’s Huge Increase?

Noteworthy Price Action: What's Next for CVR Refining LP After Today's Huge Increase?

The stock of CVR Refining LP (NYSE:CVRR) is a huge mover today! About 184,669 shares traded hands. CVR Refining LP (NYSE:CVRR) has declined 33.58% since April 28, 2016 and is downtrending. It has underperformed by 39.50% the S&P500.
The move comes after 7 months positive chart setup for the $1.31 billion company. It was reported on Dec, 1 by Barchart.com. We have $8.70 PT which if reached, will make NYSE:CVRR worth $39.30M more.

Analysts await CVR Refining LP (NYSE:CVRR) to report earnings on February, 16. They expect $0.07 EPS, up 108.43% or $0.90 from last year’s $-0.83 per share. CVRR’s profit will be $10.85M for 30.18 P/E if the $0.07 EPS becomes a reality. After $0.11 actual EPS reported by CVR Refining LP for the previous quarter, Wall Street now forecasts -36.36% negative EPS growth.

CVR Refining LP (NYSE:CVRR) Ratings Coverage

Out of 10 analysts covering CVR Refining LP (NYSE:CVRR), 1 rate it a “Buy”, 2 “Sell”, while 7 “Hold”. This means 10% are positive. CVR Refining LP has been the topic of 23 analyst reports since July 24, 2015 according to StockzIntelligence Inc. The stock of CVR Refining LP (NYSE:CVRR) earned “Underweight” rating by Piper Jaffray on Friday, July 1. The stock of CVR Refining LP (NYSE:CVRR) earned “Overweight” rating by Barclays Capital on Tuesday, August 2. The firm has “Underweight” rating given on Monday, August 22 by Piper Jaffray. JP Morgan downgraded the stock to “Underweight” rating in Friday, June 10 report. On Friday, October 28 the stock rating was upgraded by JP Morgan to “Neutral”. As per Thursday, May 19, the company rating was initiated by UBS. The firm has “Neutral” rating by Credit Suisse given on Thursday, November 10. PiperJaffray upgraded CVR Refining LP (NYSE:CVRR) on Friday, November 18 to “Neutral” rating. The firm has “Neutral” rating by Macquarie Research given on Friday, July 24. Goldman Sachs downgraded CVR Refining LP (NYSE:CVRR) rating on Tuesday, January 26. Goldman Sachs has “Sell” rating and $15 price target.

According to Zacks Investment Research, “CVR Refining, LP is engaged in the refining of petroleum primarily in the United States. It has refining and related logistics assets that operate in the mid-continent region. The company operates in Coffeyville, Kansas, Wynnewood and Oklahoma. CVR Refining, LP is headquartered in Sugar Land, Texas.”

Insitutional Activity: The institutional sentiment increased to 0.68 in Q2 2016. Its up 0.32, from 0.36 in 2016Q1. The ratio improved, as 21 funds sold all CVR Refining LP shares owned while 26 reduced positions. 4 funds bought stakes while 13 increased positions. They now own 14.58 million shares or 15.80% less from 17.31 million shares in 2016Q1.
Susquehanna Interest Llp accumulated 0% or 267,915 shares. Goldman Sachs Grp Inc Inc reported 1.07 million shares or 0% of all its holdings. The Ontario – Canada-based Royal Bank & Trust Of Canada has invested 0% in CVR Refining LP (NYSE:CVRR). Federated Inc Pa holds 0.01% or 486,875 shares in its portfolio. Art Ltd Liability reported 19,321 shares or 0.01% of all its holdings. The Alabama-based Kistler has invested 0% in CVR Refining LP (NYSE:CVRR). Millennium Management Ltd Llc has invested 0.01% of its portfolio in CVR Refining LP (NYSE:CVRR). Barclays Public Ltd Co holds 0% of its portfolio in CVR Refining LP (NYSE:CVRR) for 69,641 shares. Wellington Management Group Llp, a Massachusetts-based fund reported 217,040 shares. Next Gp Inc reported 700 shares or 0% of all its holdings. Citigroup last reported 11,090 shares in the company. Trust Company Of Vermont has 0% invested in the company for 300 shares. Commonwealth Of Pennsylvania Public School Empls Retrmt accumulated 0.02% or 114,873 shares. Lpl Ltd Liability Com holds 45,717 shares or 0% of its portfolio. Sumitomo Mitsui Tru has invested 0% of its portfolio in CVR Refining LP (NYSE:CVRR).

Insider Transactions: Since August 2, 2016, the stock had 0 insider purchases, and 1 sale for $1.42 million net activity. $1.42M worth of shares were sold by ICAHN CARL C on Tuesday, August 2.

More news for CVR Refining LP (NYSE:CVRR) were recently published by: Fool.com, which released: “Shares of CVR Refining LP Slid 15% in January, Here’s Why” on February 03, 2016. Prnewswire.com‘s article titled: “CVR Refining Reports 2016 Second Quarter Results” and published on July 28, 2016 is yet another important article.

CVRR Company Profile

CVR Refining, LP, incorporated on September 17, 2012, is an independent downstream energy limited partnership. The Firm has refining and related logistics assets that operate in the mid-continent region. The Firm is a petroleum refiner and it owns approximately two refineries in the underserved Group 3 of the PADD II region of the United States. The Firm owns and operates a full coking medium-sour crude oil refinery in Coffeyville, Kansas with a capacity of approximately 115,000 barrels per calendar day (bpcd) and a crude oil refinery in Wynnewood, Oklahoma with a capacity of over 70,000 bpcd capable of processing over 20,000 bpcd of light sour crude oils. The Firm also controls and operates supporting logistics assets, including approximately 340 miles of owned and leased pipelines; approximately 150 crude oil transports; a network of crude oil gathering tank farms; over 7.0 million barrels of owned and leased crude oil storage capacity, and approximately 4.5 million barrels of combined refinery related storage capacity. The Firm processes a variety of crudes, including West Texas sour (WTS), West Texas intermediate (WTI), sweet and sour Canadian, and locally gathered crudes. The Firm 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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