Goldman Sachs Lowers Q2 Estimates on Oil Refiners
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According to reports from Bloomberg, Goldman Sachs lowered Q2 estimates on oil refiners, citing no recovery in the crack spread.
Goldman cut Q2 estimates on:
Valero Energy Corp. (NYSE: VLO) cut to $1.20 (consensus is $1.83)
Sunoco (NYSE: SUN) cut to a loss of ($0.15) (consensus is $0.84 profit)
Tesoro Corporation (NYSE: TSO) cut to a loss of ($0.25) (consensus is a $0.36 profit)
Frontier Oil Corp. (NYSE: FTO) cut to $0.50 (consensus is $0.70)
Holly Corp. (NYSE: HOC) cut to $0.83 (consensus is $0.79)
Marathon Oil Corp. (NYSE: MRO) cut to $1.50 (consensus is $1.84).
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