CVR Energy (CVI) was Upgraded by Piper Jaffray to ” Neutral”. Earlier the firm had a rating of “Underweight ” on the company shares. Piper Jaffray advised their investors in a research report released on Oct 10, 2016.
On the company’s financial health, CVR Energy reported $0.33 EPS for the quarter, beating the analyst consensus estimate by $ 0.36 according to the earnings call on Jul 28, 2016. Analyst had a consensus of $-0.03. The company had revenue of $1283.20 million for the quarter, compared to analysts expectations of $1155.65 million. The company’s revenue was down -21.0 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.17 EPS.
CVR Energy closed down -0.21 points or -1.48% at $13.95 with 8,57,377 shares getting traded on Friday. Post opening the session at $14.22, the shares hit an intraday low of $13.91 and an intraday high of $14.2204 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.
CVR Energy Inc. is a holding company. The Company engages in the petroleum refining and nitrogen fertilizer manufacturing through its holdings in CVR Refining LP (CVR Refining or the Refining Partnership) and CVR Partners LP (CVR Partners or the Nitrogen Fertilizer Partnership). The Companys Refining Partnership is an independent petroleum refiner and marketer of transportation fuels. Its Nitrogen Fertilizer Partnership produces and markets nitrogen fertilizers in the form of urea and ammonium nitrate (UAN) and ammonia. In addition the Company through its majority owned subsidiaries produces and markets nitrogen fertilizer products in North America. It operates in two segments: the petroleum segment and the nitrogen fertilizer segment. The petroleum business consists of a coking medium-sour crude oil refinery in Coffeyville Kansas and a crude oil refinery in Wynnewood Oklahoma. The nitrogen fertilizer business consists of a nitrogen fertilizer facility in Coffeyville Kansas.