Creative Planning Has $1.32 Million Position in CVR Refining, LP (NYSE:CVRR)

Creative Planning reduced its stake in shares of CVR Refining, LP (NYSE:CVRR) by 0.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 138,900 shares of the oil and gas company’s stock after selling 153 shares during the period. Creative Planning owned approximately 0.09% of CVR Refining, worth $1,320,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in CVRR. PNC Financial Services Group Inc. increased its position in CVR Refining, by 10.8% in the first quarter. PNC Financial Services Group Inc. now owns 20,550 shares of the oil and gas company’s stock worth $195,000 after buying an additional 2,000 shares in the last quarter. Stifel Financial Corp raised its stake in CVR Refining, by 13.5% in the first quarter. Stifel Financial Corp now owns 31,157 shares of the oil and gas company’s stock valued at $301,000 after buying an additional 3,716 shares during the last quarter. Global X Management Co. LLC raised its stake in CVR Refining, by 8.7% in the first quarter. Global X Management Co. LLC now owns 63,525 shares of the oil and gas company’s stock valued at $600,000 after buying an additional 5,107 shares during the last quarter. Clinton Group Inc. raised its stake in CVR Refining, by 58.7% in the first quarter. Clinton Group Inc. now owns 27,868 shares of the oil and gas company’s stock valued at $263,000 after buying an additional 10,303 shares during the last quarter. Finally, HighTower Advisors LLC acquired a new stake in CVR Refining, during the first quarter valued at about $100,000. 11.39% of the stock is currently owned by institutional investors and hedge funds.

Shares of CVR Refining, LP (NYSE:CVRR) opened at 7.60 on Friday. The company has a 50-day moving average of $9.25 and a 200 day moving average of $10.00. The company has a market capitalization of $1.12 billion, a P/E ratio of 7.47 and a beta of 1.33. CVR Refining, LP has a 12 month low of $5.50 and a 12 month high of $12.55.

CVR Refining, (NYSE:CVRR) last released its quarterly earnings data on Thursday, July 27th. The oil and gas company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of $0.17 by $0.30. CVR Refining, had a return on equity of 4.01% and a net margin of 1.02%. The business had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.23 billion. During the same quarter last year, the business posted $0.53 EPS. The company’s quarterly revenue was up 14.9% compared to the same quarter last year. Analysts forecast that CVR Refining, LP will post $0.64 EPS for the current year.

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CVRR has been the subject of several recent research reports. Zacks Investment Research downgraded shares of CVR Refining, from a “hold” rating to a “sell” rating in a research note on Monday, April 17th. Citigroup Inc. reiterated a “neutral” rating and set a $10.00 price objective (down from $11.80) on shares of CVR Refining, in a research note on Saturday, April 22nd. ValuEngine downgraded shares of CVR Refining, from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Credit Suisse Group downgraded shares of CVR Refining, from an “outperform” rating to a “neutral” rating and set a $10.00 price target on the stock. in a research report on Tuesday, June 20th. Finally, BidaskClub upgraded shares of CVR Refining, from a “sell” rating to a “hold” rating in a research report on Saturday, July 1st. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $9.63.

About CVR Refining,

CVR Refining, LP is an independent downstream energy limited partnership with refining and related logistics assets that operates in the mid-continent region. The Company is a petroleum refiner. It owned and operated a complex full coking medium-sour crude oil refinery in Coffeyville, Kansas with a rated capacity of 115,000 barrels per calendar day (bpcd) and a complex crude oil refinery in Wynnewood, Oklahoma with a rated capacity of 70,000 bpcd capable of processing 20,000 bpcd of light sour crude oils (within its rated capacity of 70,000 bpcd), as of December 31, 2016.