Overvalued Oil Stocks, No. 3: Anadarko Petroleum Corp. (NYSE: APC) traded at nearly $95 this week. Again, the last time it was that high oil was at $87. Last year, APC had Q1 earnings of $1.26. This quarter the company is expected to lose $0.59 per share.
Sentiment: Strong Sell
i only see $60 mil cash on bal sheet, some here pumping receivables as cash? dayrates @$30K, cash flow will be neg in 2016-17/S&P says
U.S. crude oil refinery inputs averaged over 16.2 million barrels per day during the week
ending April 10, 2015, 283,000 barrels per day more than the previous week’s average.
Refineries operated at 92.3% of their operable capacity last week. Gasoline production
increased last week, averaging over 9.2 million barrels per day. Distillate fuel production
decreased slightly last week, averaging 5.0 million barrels per day.
U.S. crude oil imports averaged over 7.1 million barrels per day last week, down by 1.1
million barrels per day from the previous week. Over the last four weeks, crude oil
imports averaged over 7.5 million barrels per day, 0.2% above the same four-week period
last year. Total motor gasoline imports (including both finished gasoline and gasoline
blending components) last week averaged 545,000 barrels per day. Distillate fuel imports
averaged 219,000 barrels per day last week.
U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum
Reserve) increased by 1.3 million barrels from the previous week. At 483.7 million
barrels, U.S. crude oil inventories are at the highest level for this time of year in at least
the last 80 years. Total motor gasoline inventories decreased by 2.1 million barrels last
week, but are well above the upper limit of the average range. Both finished gasoline
inventories and blending components inventories decreased last week. Distillate fuel
inventories increased by 2.0 million barrels last week and are in the middle of the average
range for this time of year. Propane/propylene inventories rose 2.1 million barrels last
week and are well above the upper limit of the average range. Total commercial
petroleum inventories increased by 7.2 million barrels last week.
Total products supplied over the last four-week period averaged 19.1 million barrels per
day, up by 4.3% from the same period last year. Over the last four weeks, motor gasoline
product supplied averaged 8.9 million barrels per day, up by 0.7% from