111.45 0.00 (0.00%)
After hours: 4:45PM EDT
|Bid||102.10 x 500|
|Ask||111.48 x 900|
|Day's Range||109.79 - 111.47|
|52 Week Range||75.85 - 111.47|
|PE Ratio (TTM)||11.32|
|Earnings Date||Apr 27, 2018|
|Forward Dividend & Yield||2.80 (2.70%)|
|1y Target Est||108.50|
Before proceeding with Marathon Petroleum’s (MPC) refining earnings outlook for 1Q18, let’s recap refining earnings trends in 4Q17.
Marathon Petroleum (MPC) is expected to post its 1Q18 results on May 1. Before we proceed with the 1Q18 estimates, let’s recap MPC’s 4Q17 performance versus estimates.
In this series, we ranked refiners based on their expected earnings growth in 1Q18. We moved to individual refiners’ performance starting with Marathon Petroleum (MPC), which is expected to post the highest growth in earnings in 1Q18.
According to the North Dakota Department of Mineral Resources, the state produced 1,174,769 barrels of oil per day and 2,102,266 thousand cubic feet per day of associated gas in February.
The oil cartel has done well to stabilize oil prices over the past 15 months, but the latest commodity surge could have more to do with geopolitical concerns brought about by the president himself.
Previously, we noted that analysts expect Marathon Petroleum (MPC) to post the highest growth in 1Q18 earnings. Andeavor (ANDV) is expected to post the lowest growth. Phillips 66 (PSX) and Valero Energy (VLO) stand second and third, respectively. Let’s see how Wall Street analysts rate these stocks.
In the preceding two parts, we looked at two highest probable growth achievers for 1Q18—Marathon Petroleum (MPC) and Phillips 66 (PSX). Respectively, MPC and PSX are expected to post 378.0% and 61.0% higher EPS (earnings per share) on a year-over-year (or YoY) in 1Q18. In this article, we’ll look at Valero Energy (VLO), which ranks third in our survey. Let’s look at VLO’s 4Q17 performance versus estimates.
In this series of the top four refiners based on their likely year-over-year (or YoY) earnings growth, the second spot is occupied by Phillips 66 (PSX). In the previous part, we saw that Marathon Petroleum (MPC), which is likely to witness a 378.0% year-over-year rise in its earnings, stood at the top spot. Before looking at PSX’s 1Q18 estimates, let’s glance at the company’s performance in 4Q17.
Short interest in Phillips 66 (PSX) as a percentage of outstanding shares has fallen 0.3% since February 14, 2018, to 1.2%. Normally, everything else being equal, a drop in short interest could indicate a decrease in bearishness toward a stock. In the same period, Phillips 66 stock has risen 9.9%.
In this part, we’ll forecast Phillips 66’s stock price based on its implied volatility for the 16 days leading up to its earnings release. Phillips 66 is expected to post its 1Q18 earnings on April 27, 2018. Phillips 66’s implied volatility has risen 7.0% since January 2, 2018, to 23.5%, and its stock has risen 0.8%.
Before we proceed with Phillips 66’s (PSX) refining margin outlook for 1Q18, let’s look at PSX’s segment-wise earnings and refining margin in 4Q17. In 4Q17, Phillips 66’s total adjusted net income rose 431% YoY (year-over-year) to $605 million, and its refining earnings rose from -$95 million to $358 million due to wider refining margins and a higher utilization rate. The greatest contributor to Phillips 66’s overall adjusted net income was its refining segment, whose earnings contributed 59% of the company’s total adjusted income in 4Q17. ...
As a result, shares of energy stocks such as that of Phillips 66 (NYSE:PSX) have been on the rise. Although PSX stock looks constructive through the longer-term lens, in the near term it is increasingly overbought and at risk of stalling or mean-reverting lower. Not every sector of stocks in the S&P 500 has a single clear “thing” that makes it move the way the energy sector does.
Phillips 66 (PSX) stock stands sixth among the seven refining stocks in our survey. PSX, which marks the beginning of the bottom order, has the highest market cap among the peers considered in this series. The stocks in the top order are Delek US Holdings (DK), HollyFrontier (HFC), and Andeavor (ANDV). Let’s have a look at the performance of Phillips 66 stock.
Valero Energy (VLO) has seen a 1.0% fall in its short interest as a percentage of its outstanding shares since February 14, 2018, to its current level of 2.7%. This fall implies that bearish sentiments in the stock have decreased. Over the same period, Valero stock has risen 2.8%.
Marathon Petroleum (MPC) stock occupies the fifth slot in our list of seven downstream stocks. Marathon Petroleum stock has risen 11.3% since March 2, 2018. This is higher than the returns of the broad market indicator, the SPDR S&P 500 ETF (SPY). This ETF has fallen 2.1% in the same period.
Until now in this pre-earnings series, we’ve looked at Valero Energy’s (VLO) estimate for its 1Q18 earnings, refining margin outlook, stock price performance, moving average indicator, and price forecast for the pre-earnings period ending on April 26, 2018.
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Since January 2, 2018, Valero Energy (VLO) stock has risen 2.6%. Its peers have shown a mixed trend in the same period. Let’s look at what led the rise in Valero stock.
Delek US Holdings (DK) stock occupies the top slot in our list of the top seven downstream stocks. DK stock has risen 17.7% in the last month. This trend is the highest among the refining stocks and is above the returns of the SPDR S&P 500 ETF (SPY), which has fallen 2.1% in the same period.
In this article, we’ll analyze Valero Energy’s (VLO) refining margin indicators in 1Q18. Let’s start by examining Valero’s refining margin in 4Q17.
In this series, we’ll rank seven American refining firms based on their returns in the past month. Then we’ll delve into the individual performances of these refining companies.
Valero Energy (VLO) is expected to publish its 1Q18 results on April 26, 2018. Before we proceed with considering analysts’ 1Q18 estimates for VLO, let’s recap Valero’s 4Q17 performance compared to estimates.