Zacks: Brokerages Expect CVR Refining, LP (CVRR) Will Announce Earnings of $0.35 Per Share

Wall Street brokerages expect that CVR Refining, LP (NYSE:CVRR) will announce earnings of $0.35 per share for the current quarter, according to Zacks. Zero analysts have issued estimates for CVR Refining’s earnings. CVR Refining reported earnings per share of ($0.07) during the same quarter last year, which indicates a positive year-over-year growth rate of 600%. The company is scheduled to issue its next quarterly earnings report on Thursday, February 15th.

According to Zacks, analysts expect that CVR Refining will report full-year earnings of $1.45 per share for the current fiscal year. For the next financial year, analysts expect that the business will report earnings of $1.38 per share. Zacks’ EPS calculations are a mean average based on a survey of sell-side research firms that that provide coverage for CVR Refining.

CVR Refining (NYSE:CVRR) last posted its quarterly earnings data on Wednesday, November 1st. The oil and gas company reported $0.47 EPS for the quarter, beating the Zacks’ consensus estimate of $0.23 by $0.24. CVR Refining had a net margin of 1.98% and a return on equity of 7.90%. The company had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.20 billion. During the same period in the prior year, the firm posted $0.11 EPS. The company’s quarterly revenue was up 19.1% on a year-over-year basis.

A number of equities research analysts have recently commented on the stock. BidaskClub raised shares of CVR Refining from a “sell” rating to a “hold” rating in a research note on Saturday, September 9th. Zacks Investment Research upgraded shares of CVR Refining from a “strong sell” rating to a “hold” rating in a research report on Tuesday, September 12th. Barclays boosted their target price on shares of CVR Refining from $10.00 to $13.00 and gave the company an “underweight” rating in a research report on Thursday, November 2nd. Citigroup boosted their target price on shares of CVR Refining from $8.00 to $10.50 and gave the company a “neutral” rating in a research report on Wednesday, October 18th. Finally, Tudor Pickering upgraded shares of CVR Refining from a “hold” rating to a “buy” rating in a research report on Monday, October 9th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $11.29.

CVR Refining (NYSE:CVRR) traded up $0.45 during trading hours on Friday, hitting $16.55. 563,073 shares of the stock were exchanged, compared to its average volume of 484,030. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.34 and a current ratio of 1.86. CVR Refining has a 12 month low of $6.70 and a 12 month high of $16.75. The company has a market cap of $2,440.00, a price-to-earnings ratio of 22.67 and a beta of 1.37.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Alliancebernstein L.P. grew its position in CVR Refining by 14.4% during the second quarter. Alliancebernstein L.P. now owns 13,515 shares of the oil and gas company’s stock valued at $128,000 after buying an additional 1,705 shares during the period. Hotchkis & Wiley Capital Management LLC bought a new position in CVR Refining during the third quarter valued at about $185,000. Stifel Financial Corp grew its position in CVR Refining by 26.8% during the second quarter. Stifel Financial Corp now owns 39,499 shares of the oil and gas company’s stock valued at $385,000 after buying an additional 8,342 shares during the period. Regal Investment Advisors LLC grew its position in CVR Refining by 10.9% during the third quarter. Regal Investment Advisors LLC now owns 41,637 shares of the oil and gas company’s stock valued at $410,000 after buying an additional 4,100 shares during the period. Finally, GSA Capital Partners LLP bought a new position in CVR Refining during the second quarter valued at about $439,000. Hedge funds and other institutional investors own 12.80% of the company’s stock.

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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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