Short Interest in Phillips 66 ahead of 3Q17 Earnings
Short interest in Phillips 66 (PSX) expressed as a percentage of outstanding shares has fallen from 1.6% at the end of August to the current level of 1.4%.
Phillips 66 has been rated by 19 analysts. Of those, eight analysts (or 42.0%) have assigned the stock a “buy” or “strong buy” rating.
Implied volatility in Phillips 66 has fallen from 17.9% on July 3, 2017, to the current level of 15.9%. PSX stock rose 13.3% in the same period.
On July 3, 2017, Phillips 66’s (PSX) 50-day moving average was below its 200-day moving average. Its 50-day moving average broke below its 200-day moving average in 1Q17.
Since July 3, 2017, Phillips 66 stock has risen 13.3%. By comparison, the SPDR S&P 500 ETF (SPY) has risen 5.3%.
In 2Q17, Phillips 66’s (PSX) total adjusted net income of $569.0 million rose 14% YoY (year-over-year).
Phillips 66 (PSX) is expected to post its 3Q17 results on October 27, 2017. In 2Q17, its adjusted EPS (earnings per share) of $1.09 surpassed estimates of $1.01.
The bearish sentiment in MPC stock appears to have risen. Over the same period, the stock’s price has risen 7.5%.
Of the 19 analysts covering MPC stock, 15 (79%) analysts have assigned a “buy” or “strong buy” ratings, while four have assigned a “hold” rating.
The implied volatility in MPC has fallen 3.4% since July 3 to its current level of 22.8%.
On July 3, 2017, Marathon Petroleum’s (MPC) 50-day moving average rose above its 200-day moving average.
Since July 3, Marathon Petroleum stock has risen likely due to Hurricane Harvey, which hit Texas on August 26, 2017.
Marathon Petroleum’s (MPC) Refining segment reported a fall of 45% YoY (year-over-year) in its operating income to $562 million in 2Q17.
In 2Q17, Marathon Petroleum (MPC) posted revenues of $18.4 billion, which missed the Wall Street analysts’ estimates.
Valero Energy (VLO) has seen a rise in its short interest (as a percentage of outstanding shares) from 3.9% at the end of August to the current level of 4.3%.
In this pre-earnings series, we’ve looked at Valero Energy’s (VLO) estimate for its 3Q17 earnings, refining margin outlook, stock price performance, moving average indicator, and price forecast up to October 26.
In this part of our series, we’ll look at Valero Energy’s (VLO) stock price forecast range, which is based on its implied current volatility, for a 20-day period before its earnings.
On July 3, Valero Energy’s (VLO) stock rose, as we discussed in the previous part of this series. Also, Valero’s 50-day moving average stood above its 200-day moving average.
Since July 3, Valero Energy (VLO) stock has risen 14.5%. Its peers have risen similarly in this period. Let’s look at what led to the rise in Valero stock.
In this part of our series, we’ll analyze Valero Energy’s (VLO) refining margin indicators for 3Q17. Let’s start by examining Valero’s refining margin in the second quarter of 2017.