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Where Is Andeavor Headed in 4Q17?

PART:
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15
Part 6
Where Is Andeavor Headed in 4Q17? PART 6 OF 15

Andeavor Stock’s Performance in 4Q17 So Far

Andeavor’s stock performance

In 4Q17 to date, Andeavor (ANDV) stock has risen 0.7%, underperforming the market indicator, the SPDR S&P 500 ETF (SPY). SPY has risen 4.8% in the same period.

Peer Marathon Petroleum (MPC) rose 12.4% in 4Q17. Also, Valero Energy (VLO) and Phillips 66 (PSX) rose 9.2% and 5.6%, respectively, in the fourth quarter.

Andeavor Stock&#8217;s Performance in 4Q17 So Far

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Andeavor stock is rising in 4Q17

In 4Q17, Andeavor stock rose slightly after its 3Q17 earnings missed the earnings estimate. As the quarter began, Andeavor stock rose 7.3% in anticipation of the 3Q17 earnings, which were posted on November 8.

However, after its earnings release, Andeavor stock has fallen 6.2%. So, Andeavor stock shed its gains, rising just 0.7% in the current quarter since October 2. For more on ANDV’s 3Q17 performance, please read How Andeavor Fared in 3Q17.

Also, Andeavor’s refining index values have declined quarter-over-quarter. This could result in a lower refining margin for Andeavor in 4Q17 over 3Q17. The decline in the refining index is due to the index normalizing after experiencing extraordinarily high growth in 3Q17, led by Hurricane Harvey. We discussed ANDV’s refining index trend earlier in the series.

On the positive side, the EIA (U.S. Energy Information Administration) reported a fall in gasoline inventory levels for the week ended November 24, 2017, compared to the week ended September 29, 2017. Distillate inventory levels have also decreased in the same period.

Also, Andeavor is successfully integrating Western Refining. We discussed these integration benefits in the previous article.

In short…

Overall, Andeavor stock has risen marginally in 4Q17 quarter-to-date due to lower-than-expected earnings and a falling refining index. This increase was partially offset by a decline in gasoline and distillate inventories in the market and the ongoing integration of Western Refining.

In the next part, let’s review how Andeavor’s moving averages are trending in 4Q17.

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