Zacks: Brokerages Expect CVR Refining LP (CVRR) Will Announce Earnings of -$0.03 Per Share

Equities analysts predict that CVR Refining LP (NYSE:CVRR) will announce earnings per share (EPS) of ($0.03) for the current quarter, Zacks Investment Research reports. Zero analysts have issued estimates for CVR Refining’s earnings. CVR Refining reported earnings per share of $0.45 in the same quarter last year, which would indicate a negative year over year growth rate of 106.7%. The business is expected to report its next earnings report on Thursday, April 26th.

According to Zacks, analysts expect that CVR Refining will report full-year earnings of $1.03 per share for the current year. For the next fiscal year, analysts anticipate that the company will report earnings of $1.12 per share. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research firms that that provide coverage for CVR Refining.

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CVR Refining (NYSE:CVRR) last announced its quarterly earnings data on Thursday, February 22nd. The oil and gas company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.50). CVR Refining had a net margin of 1.57% and a return on equity of 6.62%. The firm had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.19 billion. During the same period last year, the company posted ($0.07) earnings per share. CVR Refining’s revenue for the quarter was up 19.5% on a year-over-year basis.

Several equities analysts have weighed in on CVRR shares. ValuEngine raised CVR Refining from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Citigroup raised their price target on CVR Refining from $13.00 to $16.00 and gave the stock a “neutral” rating in a report on Wednesday, January 24th. Tudor Pickering lowered CVR Refining from a “buy” rating to a “hold” rating in a report on Monday, February 26th. Zacks Investment Research lowered CVR Refining from a “hold” rating to a “strong sell” rating in a report on Monday, March 12th. Finally, Barclays reaffirmed a “hold” rating and issued a $17.00 price target on shares of CVR Refining in a report on Wednesday, January 10th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $12.90.

Shares of CVRR stock remained flat at $$13.00 during midday trading on Friday. 478,102 shares of the company’s stock were exchanged, compared to its average volume of 629,228. CVR Refining has a 1 year low of $6.70 and a 1 year high of $18.25. The firm has a market capitalization of $1,918.80, a P/E ratio of 22.03 and a beta of 1.50. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.45 and a quick ratio of 0.76.

The business also recently declared a quarterly dividend, which was paid on Monday, March 12th. Stockholders of record on Monday, March 5th were issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 13.85%. The ex-dividend date was Friday, March 2nd. CVR Refining’s payout ratio is currently 305.09%.

Several institutional investors have recently bought and sold shares of the company. BNP Paribas Arbitrage SA boosted its stake in CVR Refining by 135.9% during the third quarter. BNP Paribas Arbitrage SA now owns 186,813 shares of the oil and gas company’s stock valued at $1,840,000 after buying an additional 107,620 shares during the period. Russell Investments Group Ltd. boosted its stake in CVR Refining by 32.7% during the third quarter. Russell Investments Group Ltd. now owns 79,712 shares of the oil and gas company’s stock valued at $785,000 after buying an additional 19,655 shares during the period. JPMorgan Chase & Co. boosted its stake in CVR Refining by 40.4% during the third quarter. JPMorgan Chase & Co. now owns 758,593 shares of the oil and gas company’s stock valued at $7,510,000 after buying an additional 218,160 shares during the period. HITE Hedge Asset Management LLC boosted its stake in CVR Refining by 22.3% during the third quarter. HITE Hedge Asset Management LLC now owns 1,276,154 shares of the oil and gas company’s stock valued at $12,570,000 after buying an additional 232,347 shares during the period. Finally, Wells Fargo & Company MN boosted its stake in CVR Refining by 150.4% during the third quarter. Wells Fargo & Company MN now owns 178,367 shares of the oil and gas company’s stock valued at $1,758,000 after buying an additional 107,130 shares during the period. 14.36% of the stock is owned by hedge funds and other institutional investors.

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CVR Refining Company Profile

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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