Andeavor

Latest Andeavor News and Updates

  • uploads///Rankings
    Earnings Report

    Refiners’ 4Q17 Estimates: Ranking MPC, VLO, PSX, ANDV on Earnings

    In this series, we’ll be sorting refining stocks in terms of earnings expectations for 4Q17. If we rank them on their likely YoY growth in EPS, then Andeavor (ANDV) occupies the top slot.

    By Maitali Ramkumar
  • uploads///Cashflow
    Company & Industry Overviews

    Valero’s Liquidity: Does It Justify High Shareholder Returns?

    Valero’s liquidity In 1H17, Valero Energy (VLO) generated $2785 million in cash from operations. The company had cash outflows of $880 million in the form of capital expenditure and deferred turnaround and catalyst costs and $627 million in the form of dividends. Valero’s liquidity surplus Valero’s cash outflows amounted to around $1507 million in 1H17, […]

    By Maitali Ramkumar
  • uploads///Leverage
    Company & Industry Overviews

    How Is Marathon Petroleum’s Leverage Trending?

    Marathon Petroleum’s solvency ratios are higher than the industry average, which is not a comfortable situation.

    By Maitali Ramkumar
  • uploads///ANDV
    Energy & Utilities

    Why Andeavor Has so Many ‘Buy’ Ratings among US Refiners

    Of the 17 analysts covering Andeavor (ANDV), 15 (88%) have rated the stock a “buy” so far in August 2017. Two analysts have rated ANDV a “hold.”

    By Maitali Ramkumar
  • uploads///Valutaion
    Company & Industry Overviews

    Do Marathon Petroleum’s Valuations Stand above Peer Averages?

    Currently, MPC trades at a forward PE (price-to-earnings) ratio of 14.8x, above its peer average of 13.8x.

    By Maitali Ramkumar
  • uploads///Stocks
    Company & Industry Overviews

    MPC, ANDV, VLO, PSX: Why Refining Stocks Are Underperforming SPY

    In this series, we’ll perform a cross-sectional analysis of refining stocks. We’ll examine their moving averages and eight-day price forecasts based on implied volatility, and compare their leverage, liquidity, capex, and refining margins.

    By Maitali Ramkumar
  • uploads///DK
    Energy & Utilities

    Behind Delek US Holdings’ Scant ‘Buy’ Ratings

    Four (27%) of the 15 analysts covering DK have rated it a “buy” so far in August 2017.

    By Maitali Ramkumar
  • uploads///stocks with yields
    Company & Industry Overviews

    Top Midstream Stocks Offer Yields above 7%

    Let’s take a look at midstream stocks trading at attractive yields. The stocks have a market capitalization of over $5 billion and yields over 7.0%.

    By Rekha Khandelwal, CFA
  • uploads///Valuations
    Company & Industry Overviews

    Why MPC and PSX Trade at a Premium, ANDV and VLO at a Discount

    In the previous part of this series, we discussed refining stocks’ dividend yield trends. Now, we’ll look at the forward valuations for Marathon Petroleum (MPC), Andeavor (ANDV), Valero Energy (VLO), and Phillips 66 (PSX).

    By Maitali Ramkumar
  • uploads///Stock
    Company & Industry Overviews

    How Is Marathon Petroleum Stock Performing in 4Q17?

    Since October 2, 2017, Marathon Petroleum (MPC) stock has risen 15.7%, outperforming the SPDR S&P 500 ETF (SPY). SPY has risen 5.3% in the same period.

    By Maitali Ramkumar
  • uploads///oil _
    Energy & Utilities

    These Midstream Players Have Created Maximum Wealth for Investors

    In this series, we’ll look at the historical outliers in midstream energy, which have generated massive wealth amid turbulent times.

    By Kurt Gallon
  • uploads///Segments
    Earnings Report

    What Happened to Valero’s Refining Margin in 3Q17?

    In 3Q17, Valero Energy (VLO) saw a rise in its gross refining margin by $2.2 per barrel over 3Q16 to $10.9 per barrel.

    By Maitali Ramkumar
  • uploads///valuations
    Company & Industry Overviews

    Marathon Petroleum’s Valuation and the Peer Average

    MPC trades at valuations above its peer averages, likely because it is now in the process of restructuring the organization to unlock value.

    By Maitali Ramkumar
  • uploads///Ref index
    Company & Industry Overviews

    Andeavor’s 4Q17 Refining Index: Could Margins Sustain 3Q17 Levels?

    ANDV’s Midcontinent index value has declined to $19.00 per barrel in 4Q17 quarter-to-date from $20.10 per barrel in 3Q17.

    By Maitali Ramkumar
  • uploads///Analyst ratings
    Energy & Utilities

    Analyst Ratings for Andeavor: Who Raised ANDV’s Target Price?

    Fifteen of the 19 analysts covering Andeavor (ANDV) rated it as a “buy” in December 2017.

    By Maitali Ramkumar
  • uploads///Valutaions
    Company & Industry Overviews

    Comparing Valero’s Valuation

    Comparing Valero’s valuation In this last part, we’ll compare Valero Energy’s (VLO) valuation with peers’. VLO is presently trading at a forward PE (price-to-earnings) ratio of 13.4x, below its peers’ average of 13.9x. Peers PBF Energy (PBF) and CVR Refining (CVRR) also have below-average ratios, of 12.3x and 11.2x, respectively. Also, VLO has a forward EV-to-EBITDA (enterprise […]

    By Maitali Ramkumar
  • uploads///Cashflow
    Company & Industry Overviews

    A Look at Marathon Petroleum’s Cash Flow Position

    MPC’s cash flow excess as a percentage of its earnings ability, or cash flow from operations, stood at 28.0%.

    By Maitali Ramkumar
  • uploads///VLO
    Company & Industry Overviews

    Will Valero’s Refining Margins Surge in 4Q17?

    VLO’s Midcon crack indicator fell from $18.50 per barrel in 3Q17 to $16.50 per barrel in 4Q17.

    By Maitali Ramkumar
  • uploads///DMA
    Company & Industry Overviews

    Phillips 66’s Moving Averages in 4Q17

    Currently, Phillips 66’s 50 DMA trades 11.3% above its 200 DMA.

    By Maitali Ramkumar
  • uploads///Stocks
    Company & Industry Overviews

    MPC, ANDV, VLO, PSX: Why Refining Stocks Have Outperformed SPY in 4Q17

    In 4Q17, Valero Energy (VLO) rose 19.3%, the highest among its peers. Marathon Petroleum (MPC), Andeavor (ANDV), and Phillips 66 (PSX) rose 18.1%, 10.2%, and 9.5%, respectively, in 4Q17.

    By Maitali Ramkumar
  • uploads///Adj EBITDA
    Earnings Report

    MPLX to Acquire ANDX to Create a Large Midstream Company

    On May 8, Marathon Petroleum (MPC), MPLX LP (MPLX), and Andeavor Logistics LP (ANDX) announced that MPLX would acquire ANDX.

    By Maitali Ramkumar
  • uploads///underperformers
    Company & Industry Overviews

    ET, CVRR, and DM: Top MLP and Midstream Losses Last Week

    Energy Transfer (ET) was one of the few midstream stocks that fell last week. Energy Transfer fell 3.1% last week.

    By Rekha Khandelwal, CFA
  • uploads///analyst recom
    Energy & Utilities

    High-Yield MLPs: What Wall Street Recommends

    Energy Transfer (ET) stock was rated a “strong buy” or “buy” by 88% of analysts surveyed by Reuters.

    By Rekha Khandelwal, CFA
  • uploads///Valuations
    Company & Industry Overviews

    Comparing HollyFrontier’s Valuation with Peers’

    HollyFrontier’s (HFC) forward PE ratio is 10.4x, below peers’ average of 11.2x. Marathon Petroleum’s (MPC), Andeavor’s (ANDV), and Phillips 66’s (PSX) forward PE ratios are higher than the average, at 12.8x, 13.8x, and 12.1x, respectively.

    By Maitali Ramkumar
  • uploads///Featured image
    Earnings Report

    Did Andeavor’s Refining Margin Expand in Q2 2018?

    Andeavor (ANDV) posted its second-quarter earnings results on August 6. In the period, it surpassed estimates.

    By Maitali Ramkumar
  • uploads///Featured image
    Earnings Report

    Andeavor’s Second-Quarter Earnings Beat Estimates

    Andeavor (ANDV) reported second-quarter revenues of $12.5 billion, which surpassed Wall Street analysts’ estimate.

    By Maitali Ramkumar
  • uploads///Featured image
    Energy & Utilities

    Do Wall Street Analysts Like Phillips 66?

    Of the 17 analysts tracking Phillips 66 (PSX), seven analysts gave “buy” or “strong buy” ratings on the stock.

    By Maitali Ramkumar
  • uploads///Stock
    Earnings Report

    How Andeavor Stock Has Performed ahead of Q2 2018 Earnings

    In the earlier two parts of this series, we looked at Andeavor’s (ANDV) earnings estimates and expected refining margin for Q2 2018.

    By Maitali Ramkumar
  • uploads///Valuation
    Company & Industry Overviews

    Why Delek Stock Is Trading at Discount to Peers

    Delek US Holdings (DK) is presently trading at a forward PE multiple of 8.2x, below peers’ average of 11.5x.

    By Maitali Ramkumar
  • uploads///IH
    Company & Industry Overviews

    What Do the Latest 13F Filings Reveal about MPC, ANDV, VLO, and PSX?

    The average institutional ownership in Marathon Petroleum (MPC), Andeavor (ANDV), Valero Energy (VLO), and Phillips 66 (PSX) is over 70%.

    By Maitali Ramkumar
  • uploads///Analyst ratings
    Energy & Utilities

    Are Analysts Turning Positive on Valero?

    Eleven of the 21 analysts covering Valero Energy (VLO) have rated it a “buy.”

    By Maitali Ramkumar
  • uploads///Earnings
    Earnings Report

    Did MPC, VLO, ANDV, PSX See Their Earnings Rise in Q1 2018?

    Marathon Petroleum’s (MPC) reported net income increased to $37.0 million in the first quarter from $30.0 million year-over-year.

    By Maitali Ramkumar
  • uploads///Featured image
    Earnings Report

    MPC, VLO, ANDV, PSX: Refining Stocks’ Beats and Misses in Q1 2018

    Marathon Petroleum (MPC) posted its first-quarter results on April 30. MPC’s revenues of $19.0 billion missed Wall Street estimates.

    By Maitali Ramkumar
  • uploads///Featured image
    Company & Industry Overviews

    MPC-ANDV Merger Could Create $1 Billion in Synergies

    Marathon Petroleum (MPC) and Andeavor (ANDV) have agreed to a strategic merger.

    By Maitali Ramkumar
  • uploads///Featured image
    Earnings Report

    Marathon Petroleum’s 1Q18 Earnings Miss Estimates

    Marathon Petroleum (MPC) posted 1Q18 revenues of $19 billion, which missed Wall Street analyst estimates.

    By Maitali Ramkumar
  • uploads///Featured image
    Earnings Report

    Why MPC’s Refining and Speedway Segment Operating Earnings Fell

    Marathon Petroleum (MPC) posted its 1Q18 earnings on April 30. The company missed its earnings estimates for the quarter.

    By Maitali Ramkumar
  • uploads///Featured image
    Company & Industry Overviews

    Marathon Petroleum to Acquire Andeavor: ANDV Opens 10% Higher

    Marathon Petroleum (MPC) and Andeavor (ANDV) have entered an agreement to merge. Today, ANDV opened with a bang!

    By Maitali Ramkumar
  • uploads///Featured Image
    Earnings Report

    Phillips 66’s 1Q18 Earnings Beat Estimates

    Phillips 66 (PSX) posted its 1Q18 results today. Let’s compare its 1Q18 performance and estimates.

    By Maitali Ramkumar
  • uploads///Featured Image
    Earnings Report

    Valero’s 1Q18 Earnings Beat Estimates, Refining Margins Expand

    Valero Energy posted its 1Q18 results yesterday. Let’s compare VLO’s 1Q18 performance to estimates.

    By Maitali Ramkumar
  • uploads///GEL
    Earnings Report

    Genesis Energy Is Trading at a Discount despite Strong Earnings

    Genesis Energy is expected to post 27.4% YoY EBITDA growth in the first quarter of 2018 compared to 1Q17.

    By Kurt Gallon
  • uploads///accountant _
    Earnings Report

    Top Earnings Growth Expected from Midstream Companies in 1Q18

    In this series, we’ll look at the top ten midstream companies based on earnings growth expectations for 1Q18.

    By Kurt Gallon
  • uploads///Featured image
    Earnings Report

    What’s Expected for Phillips 66’s 1Q18 Results

    Phillips 66 (PSX) is anticipated to post its 1Q18 results on April 27, 2018.

    By Maitali Ramkumar
  • uploads///Featured Image
    Company & Industry Overviews

    A Ranking of 7 Refining Stocks’ Dividend Yields

    In this series, we’ll rank refining stocks by their dividend yields and see if the dividends have risen, fallen, or remained steady.

    By Maitali Ramkumar
  • uploads///Energy MWU_ REFINING Losers
    Energy & Utilities

    Refining and Marketing Losses this Week: CVRR, ANDV, MPC, VLO, HFC

    Next in our series of the biggest movers in the energy sector, we’ll now look at the highest-losing stocks this week from the US refining and marketing sector.

    By Nicholas Chapman
  • uploads///Valuation
    Company & Industry Overviews

    Is MPC Trading at a Premium Compared to Its Peers?

    Currently, MPC is trading at a forward PE (price-to-earnings) multiple of 12.5x, higher than its peer average of 11.9x.

    By Maitali Ramkumar
  • uploads///Analyst ratings
    Energy & Utilities

    Analyst Ratings for Refiners after 4Q17: MPC, VLO, ANDV, and PSX

    ANDV expects around $350.0 million–$425.0 million of annual savings in the form of operational synergies by June 2019.

    By Maitali Ramkumar
  • uploads///EQM
    Earnings Report

    EQT Midstream Partners Posted 20.0% Earnings Growth in 2017

    EQT Midstream Partners posted a strong 18.0% YoY (year-over-year) rise in its EBITDA during the most recent quarter.

    By Kurt Gallon
  • uploads///Valuation
    Company & Industry Overviews

    Refiners’ Valuations: MPC, ANDV, VLO, and PSX

    In the previous part of this series, we discussed refining stocks’ dividend expectations for 2Q18.

    By Maitali Ramkumar
  • uploads///Stock
    Earnings Report

    How Valero Stock Performed on the Day of Its Earnings Release

    Valero Energy (VLO) announced its results on February 1, 2018, before the market opened. Valero stock opened at $96.42 per share, above its previous day’s close of $95.97.

    By Maitali Ramkumar
  • uploads///Margin
    Earnings Report

    How Did Valero’s Refining Margin Look in 4Q17?

    Valero Energy’s (VLO) gross refining margin rose by $0.93 per barrel over 4Q16 to $8.8 per barrel in 4Q17.

    By Maitali Ramkumar
  • uploads///psxp ebitda and distributions
    Earnings Report

    What’s behind Phillips 66 Partners’ 58% Earnings Growth in 4Q17?

    Phillips 66 Partners (PSXP) reported its 4Q17 results on February 2, 2018.

    By Rekha Khandelwal, CFA
  • uploads///anr
    Energy & Utilities

    MLP Rating Updates during the Week Ending January 26

    Crestwood Equity Partners was upgraded by Capital One Securities to “overweight” in the week ending January 26, 2018.

    By Kurt Gallon
  • uploads///ANDV  Price
    Energy & Utilities

    Andeavor: 3rd-Best-Performing Energy Stock of XLE in 2017

    In 2017, Andeavor (ANDV), the third-best-performing energy stock from the Energy Select Sector SPDR ETF (XLE), rose ~31% to $114.35 from its 2016 close of $87.45.

    By Nicholas Chapman
  • uploads///XLE Best Worst  Analyst Best
    Energy & Utilities

    Wall Street’s Targets for Best-Performing XLE Stocks in 2017

    As of January 23, 2018, 22 analysts were covering Valero Energy (VLO). Three of them have “strong buy” recommendations for the stock, and six have “buy” recommendations.

    By Nicholas Chapman
  • uploads///IH
    Company & Industry Overviews

    Institutional Ownership in Refining Stocks: MPC, ANDV, VLO, and PSX

    Institutional ownership in Marathon Petroleum (MPC), Andeavor (ANDV), Valero Energy (VLO), and Phillips 66 (PSX) rose in December 2017 over June 2017.

    By Maitali Ramkumar
  • uploads///Valuation
    Company & Industry Overviews

    Refiners’ Valuations for MPC, ANDV, VLO, and PSX

    PSX trades at a 9.1x forward EV-to-EBITDA multiple and a 15.5x forward price-to-earnings ratio, above the peer averages.

    By Maitali Ramkumar
  • uploads///Correlation
    Company & Industry Overviews

    Correlation of Phillips 66 Stock with WTI

    The correlation coefficient of Phillips 66 versus WTI stood at 25.0% in the past one-year period.

    By Maitali Ramkumar
  • uploads///Yields
    Company & Industry Overviews

    Have MPC’s Refining Yields Improved in 3Q17?

    Marathon Petroleum’s (MPC) Refining segment’s operations yielded 46.0% gasoline and 33.0% distillates in 3Q17.

    By Maitali Ramkumar
  • uploads///Capex
    Company & Industry Overviews

    Where Marathon Petroleum’s Capex Is Focused

    Marathon Petroleum’s (MPC) capex rose 30.0% year-over-year to $2.9 billion in 9M17, primarily due to its acquisition and investment in its Midstream segment.

    By Maitali Ramkumar
  • uploads///IV
    Company & Industry Overviews

    What’s the Forecast for MPC’s Stock Price until December 29?

    Implied volatility in Marathon Petroleum (MPC) has fallen from 23.2% on October 2, 2017, to its current level of 19.2%.

    By Maitali Ramkumar
  • uploads///PEG
    Company & Industry Overviews

    What Andeavor’s PEG Ratio Indicates

    Andeavor’s PEG ratio stands at 0.41, above the peer average of 0.36.

    By Maitali Ramkumar
  • uploads///Carcks
    Company & Industry Overviews

    Andeavor’s Regional Crack Spread Trends in 4Q17

    The Midcontinent region had the highest rise in the crack spread of 93.0% YoY to $21.20 per barrel in 3Q17.

    By Maitali Ramkumar
  • uploads///Energy MWU_ Analyst
    Energy & Utilities

    Analyzing Wall Street Targets for DK, ANDV, and CVE

    As of November 23, 2017, four of the 14 analysts covering Delek US Holdings (DK) stock gave it a “strong buy” recommendation, and five gave it a “buy.”

    By Nicholas Chapman
  • uploads///VLO ref cracks
    Company & Industry Overviews

    What Valero’s Refining Margin Indicators Suggest

    Also, Andeavor’s (ANDV) consolidated refining index could fall in 4Q17.

    By Maitali Ramkumar
  • uploads///IH
    Company & Industry Overviews

    Valero’s Institutional Ownership Trends

    What is institutional ownership? In this part, we’ll look at changes in institutional ownership in Valero Energy (VLO). Institutional ownership is a measure of how many shares of a company are owned by institutions such as banks and mutual funds. Institutional ownership suggests these institutions’ confidence level in a stock. Usually, everything else being equal, higher […]

    By Maitali Ramkumar
  • uploads///Cashflow
    Company & Industry Overviews

    How Valero Used Its Cash Flow Surplus

    Valero’s cash flow In the first nine months of this year, Valero Energy (VLO) generated $3.8 billion in cash from operations. The company had a cash outflow of $1.3 billion in the form of deferred turnaround and catalyst costs and capital expenditure, and $936 million in the form of dividends. Valero’s cash flow surplus Valero’s cash […]

    By Maitali Ramkumar
  • uploads///Ethanol
    Company & Industry Overviews

    Could Valero’s Ethanol Earnings Fall in 4Q17?

    Valero’s ethanol earnings outlook In this part, we’ll look at Valero Energy’s (VLO) ethanol earnings and outlook. Valero’s adjusted operating income from the ethanol segment fell from $106 million in 3Q16 to $82 million in 3Q17, due to the segment’s margin narrowing. This fall was partly offset by a rise in VLO’s ethanol output. The ethanol […]

    By Maitali Ramkumar
  • uploads///Ref Margins
    Company & Industry Overviews

    MPC, VLO, ANDV, PSX: How Their Refining Margins Compared in 3Q17

    Andeavor (ANDV) had the highest gross refining margin in 3Q17, followed by Marathon Petroleum (MPC), Valero Energy (VLO), and Phillips 66 (PSX).

    By Maitali Ramkumar
  • uploads///Segments
    Earnings Report

    Marathon Petroleum’s Segmental Earnings: The 3Q17 Trend

    The Refining and Marketing segment’s operating income rose from $252.0 million in 3Q16 to $1.1 billion in 3Q17.

    By Maitali Ramkumar
  • uploads///Analyst rec
    Energy & Utilities

    How Analysts Are Rating Marathon Petroleum after 3Q17 Earnings

    After the earnings release, 19 analysts have rated Marathon Petroleum. Fifteen of them have assigned it a “buy” or “strong buy,” and four have assigned it a “hold.”

    By Maitali Ramkumar
  • uploads///Stock
    Earnings Report

    Phillips 66 Stock, 3-2-1 Crack, and SPY: What Do They Indicate?

    Since July 3, 2017, Phillips 66 stock has risen 13.3%. By comparison, the SPDR S&P 500 ETF (SPY) has risen 5.3%.

    By Maitali Ramkumar
  • uploads///Segments
    Earnings Report

    Phillips 66’s 3Q17 Refining Margin Outlook: A Pre-Earnings Review

    In 2Q17, Phillips 66’s (PSX) total adjusted net income of $569.0 million rose 14% YoY (year-over-year).

    By Maitali Ramkumar
  • uploads///SI
    Earnings Report

    Understanding the Short Interest in MPC ahead of Its 3Q17 Results

    The bearish sentiment in MPC stock appears to have risen. Over the same period, the stock’s price has risen 7.5%.

    By Maitali Ramkumar
  • uploads///Valuation
    Company & Industry Overviews

    Comparing Refiners’ Valuation: MPC, ANDV, VLO, and PSX

    Refiners’ valuation In the previous part, we discussed refining stocks’ dividend expectations for 4Q17. In this part, we’ll look at Marathon Petroleum’s (MPC), Andeavor’s (ANDV), Valero Energy’s (VLO), and Phillips 66’s (PSX) forward valuation. Their average forward EV-to-EBITDA (enterprise value to earnings before interest, tax, depreciation, and amortization) and forward PE (price-to-earnings) multiples are 8.0x and 16.0x, […]

    By Maitali Ramkumar
  • uploads///Ref Margin
    Earnings Report

    Understanding Valero’s Q3 Crack Indicators

    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.

    By Maitali Ramkumar
  • uploads///PEG
    Company & Industry Overviews

    What Andeavor’s Price–to–Earnings Growth Ratio Tells You

    The PEG ratio is a price-to-earnings to growth ratio. The ratio intends to examine a stock’s valuation after factoring in its expected future growth rate.

    By Maitali Ramkumar
  • uploads///IH
    Company & Industry Overviews

    ANDV: Gauging Institutional Ownership in Andeavor Stock

    So far in this series, we’ve seen how Andeavor’s stock has outperformed the broader market and what ANDV’s moving average suggests.

    By Maitali Ramkumar
  • uploads///Analyst ratings
    Energy & Utilities

    Wall Street Analyst Ratings for Andeavor in 3Q17

    The analyst rating graph below shows that 14 (or 82%) of the 17 analysts covering Andeavor (ANDV) have rated it a “buy” in October 2017.

    By Maitali Ramkumar
  • uploads///DMA
    Company & Industry Overviews

    How Valero’s Moving Averages Have Trended in 1H17

    Valero’s moving averages in 1H17 In 1Q17, Valero stock declined, which was likely due to its dismal 4Q16 earnings. Plus, gasoline and distillate inventories rose in the industry, which further pressured the stock.  Despite the fall in its stock price, VLO’s 50-day moving average stood above its 200-day moving average. Valero’s 50-day moving average had […]

    By Maitali Ramkumar
  • uploads///Stock
    Company & Industry Overviews

    Valero Stock Outperforms SPY: Is It the Impact of Hurricane Harvey?

    Valero’s stock performance Since July 3, 2017, the start of 3Q17, Valero Energy’s (VLO) stock has risen 5.4%, outperforming the SPDR S&P 500 ETF (SPY), the overall market indicator. The ETF has risen 3.1% in the same period.  VLO’s peer Andeavor (ANDV) has risen 9.4% since July 3. Also, Phillips 66 (PSX) and Marathon Petroleum […]

    By Maitali Ramkumar
  • uploads///Capex
    Company & Industry Overviews

    How the Growth Trajectory of Valero Energy’s Capex Looks

    Valero expects to achieve ~$1.2 billion–$1.4 billion of incremental annual EBITDA by 2021.

    By Maitali Ramkumar
  • uploads///Capex
    Company & Industry Overviews

    How Phillips 66’s Capex Is Shaping Its Future Growth Path

    In 2Q17, PSX allocated 47% of its capex to the Refining segment, 44% to the Midstream segment, and 5% to the Marketing and Specialty segment.

    By Maitali Ramkumar
  • uploads///Cashflow
    Company & Industry Overviews

    Understanding Phillips 66’s Cash Flow

    In 1H17, Phillips 66 saw its cash from operations fall 7% YoY to ~$1.3 billion. This was due to negative cash flow in 1Q17, led by seasonal inventory build-up.

    By Maitali Ramkumar
  • uploads///Leverage
    Company & Industry Overviews

    How Phillips 66’s Leverage Curve Is Trending

    Phillips 66’s (PSX) leverage ratio, or its net-debt-to-EBITDA multiple, stood at 3.7x in 2Q17—higher than the average industry ratio of 2.4x.

    By Maitali Ramkumar
  • uploads///Stock
    Company & Industry Overviews

    Marathon Petroleum Stock: The Impact of Hurricane Harvey

    Since July 3, 2017, Marathon Petroleum (MPC) stock has risen 3.7%, outperforming the SPDR S&P 500 ETF (SPY), the overall market indicator.

    By Maitali Ramkumar
  • uploads///VLO
    Energy & Utilities

    Valero Firming Up: 3rd Place and Rising among Analysts

    Valero Energy (VLO) has more than 50% “buy” ratings, with 11 (52%) of the 21 analysts covering the stock giving it a “buy.”

    By Maitali Ramkumar
  • uploads///Ref margins
    Company & Industry Overviews

    Refining Margins in 2Q17: A Comparison

    Refining margins in 2Q17 In this part, we’ll compare leading US downstream companies’ GRMs (gross refining margins). Marathon Petroleum (MPC) had the widest GRM in 2Q17, followed by Andeavor (ANDV), Phillips 66 (PSX), and Valero Energy (VLO). The companies saw mixed GRM trends in 2Q17—let’s look at them more closely. Marathon Petroleum’s refining margin MPC’s gross […]

    By Maitali Ramkumar
  • uploads///Ref index
    Company & Industry Overviews

    Could Andeavor’s Refining Margins Expand in 3Q17?

    Andeavor’s refining margin index Andeavor’s (ANDV) refining index values, which are regional crack indicators, have improved since 2Q17. Index values in California and the Pacific Northwest have risen to $15.80 and $13.10 per barrel, respectively, from $15.30 and $11.40 per barrel in 2Q17. Its mid-continent index value has risen to $16.90 per barrel from $16.30 per […]

    By Maitali Ramkumar
  • uploads///Leverage
    Company & Industry Overviews

    Comparing Andeavor’s Leverage Ratio

    Andeavor’s leverage Andeavor’s net debt-to-EBITDA (earnings before interest, tax, depreciation, and amortization) ratio stood at 3.3x in 2Q17, higher than the industry average of 2.4x. The ratio shows a company’s leverage level as a multiple of its earnings. The industry average was based on seven American refining companies’ ratios.  In 2Q17, Andeavor’s total debt-to-capital ratio stood […]

    By Maitali Ramkumar
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