Applied Materials (AMAT) stock has risen 86% over the past 12 months to the 17-year high of $44. In this series, we’ll look at the factors driving Applied Materials’ fiscal 2017 earnings.
On a YTD (year-to-date) basis, Sibanye Gold (SBGL), Gold Fields (GFI), and Pan American Silver (PAAS) have risen 15.2%, 23.6%, and 14.2%, respectively.
Randgold Resources has the lowest correlation with gold, while Kinross has the highest correlation.
The ETFS Physical Swiss Gold (SGOL) and the ETFS Physical Silver (SIVR) have risen 8.5% and 4.1%, respectively, on a year-to-date basis as of May 18, 2017.
Just as early snowmelt or increased rainfall in the Rocky Mountains will swell the Colorado River come springtime, so too do Upstream announcements eventually lead to increased opportunities for midstream…
Over the past six months, Tesoro Logistics (TLLP) returned 14.9%, beating the AMZ by 11.8%. Their recent equity offering took advantage of the current price (TLLP was yielding 6.5% as…
Valero’s crack indicators have fallen in all of these areas in May 2017 (as of May 23) as compared to April 2017.
In 2Q17 to date, Tesoro’s refining index values, which refer to regional crack indicators in the areas where TSO operates, have shown improvements
MPC’s refining earnings are influenced by the blended LLS 6-3-2-1 crack, the sweet-sour differential, and the LLS-WTI spread.
All four of our select US refining giants saw a rise in their gross refining margins in 1Q17 over 1Q16.
The higher the production of high-value, lighter products (like gasoline), the better the refining margins are for US refiners like MPC, TSO, VLO, and PSX.
Tesoro (TSO) achieved a 92% refinery utilization rate in 1Q17—the highest among our select group of four major US refiners.
Tesoro (TSO) has the highest TTM ROE at 13%. MPC and PSX have lower TTM ROEs of 9% and 8%, respectively, while VLO’s TTM ROE stands at 10%.
Phillips 66 (PSX) leads our select group of four major US refiners with around 44% of its operating income derived from its refining segment in 1Q17.
Downstream players MPC, VLO, TSO, and PSX all continued their growth and maintenance activities in 1Q17.
Refining peers MPC, VLO, TSO, and PSX are all steady dividend-paying firms and have consistently repurchased shares to increase shareholder wealth.
Refiners’ cash flows have turned volatile over the past few quarters due to volatile refining earnings.
The currently unstable refining environment has resulted in volatile refining earnings for big US refiners like MPC, VLO, TSO, and PSX.
MLPs have secondary equity offerings like I buy new plants—in other words, every time I see an opportunity. However, neither of us act recklessly—I need a bit of spare windowsill…
US crude oil (DBO) (USL) (OIIL) July futures rose 5% between May 16 and May 23, 2017.