CVR Refining, LP Common Units R (NYSE:CVRR):
CVR Refining Reports 2017 Third Quarter Results And Announces Cash Distribution of 94 Cents.
The company is so far trading unchanged from yesterday’s close of $11.35.
CVR Refining, LP, launched on September 17, 2012, 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. In addition, the Company also controlled and operated supporting logistics assets, including approximately 340 miles of active owned and leased pipelines, approximately 150 crude oil transports, a network of crude oil gathering tank farms, approximately 6.4 million barrels of owned and leased crude oil storage and over 4.5 million barrels of combined refined products and feedstocks storage capacity, as of December 31, 2016. Its Coffeyville refinery located in southeast Kansas and the Wynnewood refinery located 65 miles south of Oklahoma City, Oklahoma, are approximately 100 miles and 130 miles, respectively, from the crude oil hub at Cushing, Oklahoma (Cushing), and have access to inland domestic and Canadian crude oils..
Shares are trading at $11.35 which is impressively higher than $10.16, the stock’s 50 day moving average and which is quite a bit higher than the 200 day moving average of $9.30. The 50 day moving average moved up $1.19 and the 200 day average went up by +22.10%.
The company currently has a P/E ratio of 31.62 and market capitalization is 1.68B. As of the latest earnings report the EPS was $0.36 and is projected to be $0.71 for the current year with 147,600,000 shares outstanding. Next quarter’s EPS is forecasted at $-0.09 with next year’s EPS anticipated to be $0.99.
Investors are more bearish on shares of CVR Refining, LP Common Units R recently looking at the uptick in short interest. The company experienced a rise in short interest of 0.22% as of the latest report on October 13, 2017. Short shares increased from 1,263,421 to 1,266,168 over that timeframe. With short interest at 1,266,168 and short average daily volume at 484,485, the short-interest ratio is 3.0 and the short interest percentage is 0.01% as of October 13.
A few Wall Street investment firms have released opinions on the stock of late. On July 17 Citigroup maintained a stock rating of “Neutral” but raised the price expectation from $9.00 to $10.00. October 18 investment analysts at Citigroup left the stock rating at “Neutral” and raised the price expectation to $10.50 from $10.00.