$0.09 EPS Expected for CVR Refining, LP (CVRR) This Quarter
Wall Street analysts expect that CVR Refining, LP (NYSE:CVRR) will report $0.09 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Zero analysts have provided estimates for CVR Refining,’s earnings. CVR Refining, reported earnings of $0.11 per share in the same quarter last year, which would indicate a negative year over year growth rate of 18.2%. The firm is scheduled to issue its next earnings results on Thursday, October 26th.
On average, analysts expect that CVR Refining, will report full-year earnings of $0.59 per share for the current fiscal year. For the next fiscal year, analysts expect that the business will report earnings of $0.64 per share. Zacks’ EPS averages are an average based on a survey of analysts that follow CVR Refining,.
CVR Refining, (NYSE:CVRR) last issued its quarterly earnings results on Thursday, July 27th. The oil and gas company reported ($0.13) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.17 by $0.30. The business had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.23 billion. CVR Refining, had a net margin of 1.02% and a return on equity of 3.99%. The business’s revenue was up 14.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.53 EPS.
A number of equities analysts have recently weighed in on CVRR shares. BidaskClub lowered CVR Refining, from a “sell” rating to a “strong sell” rating in a research note on Sunday. Citigroup Inc. dropped their price target on CVR Refining, from $11.00 to $10.00 and set a “neutral” rating for the company in a research note on Monday, July 17th. Zacks Investment Research lowered CVR Refining, from a “hold” rating to a “sell” rating in a research note on Monday, April 17th. UBS AG reissued a “neutral” rating and set a $8.50 price target (down from $10.00) on shares of CVR Refining, in a research note on Wednesday. Finally, Credit Suisse Group lowered CVR Refining, from an “outperform” rating to a “neutral” rating and set a $10.00 price target for the company. in a research note on Tuesday, June 20th. Three analysts have rated the stock with a sell rating, six have given a hold rating and one has given a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $9.56.
CVR Refining, (CVRR) opened at 7.70 on Thursday. The company’s 50 day moving average price is $9.13 and its 200-day moving average price is $9.93. CVR Refining, has a one year low of $5.65 and a one year high of $12.55. The stock has a market capitalization of $1.14 billion, a PE ratio of 21.45 and a beta of 1.28.
Institutional investors have recently made changes to their positions in the stock. Morgan Stanley increased its stake in shares of CVR Refining, by 36.1% in the first quarter. Morgan Stanley now owns 2,004,627 shares of the oil and gas company’s stock worth $18,945,000 after buying an additional 531,355 shares during the period. Bank of America Corp DE increased its stake in shares of CVR Refining, by 39.1% in the first quarter. Bank of America Corp DE now owns 1,131,430 shares of the oil and gas company’s stock worth $10,692,000 after buying an additional 318,126 shares during the period. Acadian Asset Management LLC increased its stake in shares of CVR Refining, by 389.1% in the second quarter. Acadian Asset Management LLC now owns 572,644 shares of the oil and gas company’s stock worth $5,442,000 after buying an additional 455,572 shares during the period. ING Groep NV bought a new stake in shares of CVR Refining, during the first quarter worth about $3,391,000. Finally, Wellington Management Group LLP bought a new stake in shares of CVR Refining, during the first quarter worth about $2,745,000. 11.55% of the stock is owned by institutional investors.
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.
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