|Bid||0.00 x 3100|
|Ask||48.85 x 800|
|Day's Range||43.46 - 45.05|
|52 Week Range||18.48 - 46.40|
|PE Ratio (TTM)||11.93|
|Forward Dividend & Yield||1.20 (2.62%)|
|1y Target Est||N/A|
On May 23, the EIA released its weekly gasoline inventory data. The EIA reported that US gasoline inventories increased by 1.9 MMbbls (million barrels) to 233.9 MMbbls on May 11–18. However, the inventories have fallen by 5.9 MMbbls or 2.5% YoY (year-over-year).
According to the EIA, US crude oil exports decreased by 818,000 bpd (barrels per day) to 1,748,000 bpd on May 11–18. However, exports increased by 1,123,000 bpd or ~180% year-over-year.
The chart below shows that 11 (or 52.0%) of the 21 analysts covering Valero Energy (VLO) rated it a “buy.” The remaining ten analysts rated Valero as a “hold.” There are no “sell” ratings for VLO.
The EIA estimates that US crude oil exports increased by 689,000 bpd (barrels per day) to a record high of 2,566,000 bpd on May 4–11. The exports also increased by 1,480,000 bpd or ~136% year-over-year.
According to the EIA, the four-week average US gasoline demand decreased 0.9% to 9,370,000 bpd (barrels per day) on May 4–11. However, the demand increased by 64,000 bpd or ~0.7% YoY (year-over-year).
In this part of our series, we’ll look at the top-percentage gainers from the US refining and marketing sector this week. To compile the list of top refining and marketing gainers, we’ve selected refining and marketing companies with market capitalizations greater than $100 million and average trading volume greater than 100,000 shares last week.
On May 16, the EIA released its gasoline inventory data. The EIA reported that US gasoline inventories decreased by 3.8 MMbbls to 232 MMbbls on May 4–11. The inventories also declined by 8.7 MMbbls or 3.6% YoY.
In this part, we’ll consider changes in analyst ratings for Marathon Petroleum (MPC) and Andeavor (ANDV) after the announcement of their strategic merger. Both MPC and ANDV are covered by 17 analysts each. 88% and 59% of analysts rated MPC and ANDV as a “buy,” respectively.
Marathon Petroleum (MPC) announced the acquisition of Andeavor (ANDV) on April 30. On that day, Marathon Petroleum stock closed at $74.9, around 8% lower than the previous day’s close. In contrast, ANDV rose 13% up on the merger announcement day. On the same day, MPC also announced its 1Q18 earnings. Overall, since the merger news, MPC has fallen 5.0%, but Andeavor stock has risen 15%.
According to the EIA, US crude oil exports decreased by 271,000 bpd (barrels per day) to 1,877,000 bpd on April 27–May 4. However, the exports increased by 1,184,000 bpd or ~171% from a year ago.
Marathon Petroleum’s (MPC) valuations have slid due to a decline in its stock after the merger announcement. We discussed the stock’s fall in the previous part of the series. This fall led to a decline in MPC’s forward EV-to-EBITDA. Currently, MPC stands at 7.6x its forward EV-to-EBITDA, which is below the average of 7.8x. However, MPC is still trading at 14.8x its forward price-to-earnings, above the average PE of 13.8x.
The EIA estimates that the four-week average US gasoline demand increased 1.3% to 9,451,000 bpd (barrels per day) on April 27–May 4. The demand also increased by 203,000 bpd or ~2.2% year-over-year.
In this series, we’ve examined Andeavor’s (ANDV) refining margin performance in 1Q18. We also discussed ANDV’s stock performance on the day of its earnings release on May 7. Now, we’ll examine analyst ratings for ANDV after its 1Q18 earnings and merger announcement.
The U.S. Environmental Protection Agency's expanded use of waivers to free small refineries from the nation's biofuels law has saved the industry as a whole hundreds of millions of dollars, according to a Reuters review of public filings. Dozens of refineries have received the financial hardship waivers from EPA in recent months, meaning they no longer have to earn or purchase blending credits known as RINs. Savings for the refining industry represent a win for President Donald Trump, whose administration has been under pressure from Valero Energy Corp, PBF Energy, and others to overhaul the U.S. Renewable Fuel Standard (RFS) to cut compliance costs.
Today, I will be analyzing PBS Finanse SA.’s (WSE:PBF) recent ownership structure, an important but not-so-popular subject among individual investors. When it comes to ownership structure of a company, theRead More...
In the previous part, we saw the changes in Phillips 66’s (PSX) stock price forecast range. Now, we’ll discuss Phillips 66’s forward valuation compared to its peers.
In the final part of this series, we’ll review Valero’s (VLO) valuations in comparison to peers. Valero is now trading at a forward PE (price-to-earnings) ratio of 14.2x, which is below its peer average of 14.4x. Also, Valero’s (VLO) peers Andeavor (ANDV) and PBF Energy (PBF) trade below the peer average with forward PEs of 13.0x and 12.0x, respectively.
In this series, we have examined Valero’s (VLO) refining margin performance in 1Q18. We also discussed VLO’s stock performance after its earnings release on April 26, 2018. Now, we’ll look at the analyst ratings for VLO.
CVR, HollyFrontier and Delek are all smaller refiners that could help the big industry players expand their geographic reach.
Marathon Petroleum (MPC) and Andeavor (ANDV) entered an agreement to merge today. As per the agreement, MPC will buy all the outstanding shares of ANDV to create a huge world-class downstream company.
Phillips 66 (PSX) posted its 1Q18 results on April 27. Let’s compare its 1Q18 performance and estimates. In 1Q18, PSX’s revenue rose ~1% YoY (year-over-year) to ~$24 billion, and its adjusted EPS (earnings per share) rose by a whopping ~86% YoY to $1, surpassing analysts’ estimate of $0.90. Its refining margins expanded YoY.
Valero’s 1Q18 Earnings Beat Estimates, Refining Margins ExpandValero’s 1Q18 Earnings: Estimated and actual performance
In this series, we’ve looked at Marathon Petroleum’s (MPC) first-quarter estimates, refining earnings outlook, stock performance, moving averages, and stock price estimates before its earnings on May 1. Now, we’ll review the ratings from analysts covering the stock.