CVR Refining, LP (NYSE:CVRR) announced its quarterly earnings results on Wednesday. The oil and gas company reported $0.47 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.23 by $0.24, Briefing.com reports. The business had revenue of $1.39 billion during the quarter, compared to analyst estimates of $1.20 billion. CVR Refining, had a return on equity of 3.99% and a net margin of 1.02%. The firm’s revenue was up 19.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.11 EPS.
CVRR has been the subject of several research reports. ValuEngine lowered CVR Refining, from a “strong-buy” rating to a “buy” rating in a report on Monday, August 14th. BidaskClub upgraded CVR Refining, from a “hold” rating to a “buy” rating in a report on Thursday, September 28th. Zacks Investment Research upgraded CVR Refining, from a “hold” rating to a “buy” rating and set a $11.00 price target for the company in a report on Wednesday, October 4th. Tudor Pickering upgraded CVR Refining, from a “hold” rating to a “buy” rating in a report on Monday, October 9th. Finally, UBS AG reiterated a “neutral” rating and set a $8.50 price target (down from $10.00) on shares of CVR Refining, in a report on Tuesday, August 8th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $10.38.
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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