Market Overview

The Sell-Off in Refiners is a Buying Opportunity for Long-Term Investors

Share:
Related PSX
Goldman: 3 Oil Refiners To Buy And 4 To Sell
Benzinga's Top Downgrades
The Vetr community has downgraded $PSX to 4-Stars (Vetr)
Related VLO
Goldman: 3 Oil Refiners To Buy And 4 To Sell
Jim Cramer Gives His Opinion On Valero, Blackstone, Expedia, Tripadvisor And Lendingtree
Tesoro upgraded, PBF Energy downgraded as Goldman rates refiners (Seeking Alpha)

Paul Cheng, an analyst at Barclays, believes that refiners are fundamentally cheap for long-term investors based on positive macro trends.

Cheng cited that the EPA's new gasoline proposal is "not as bad as it seems," and also notes that the Brent/WTI spread will likely widen.

Over the last several trading sessions refineries have taken a hit with some of the worst performers being:

Western Refining (NYSE: WNR) -11% Phillips 66 (NYSE: PSX) -10% PBF Energy Inc. (NYSE: PBF) -9.8% Valero Energy Corp. (NYSE: VLO) -9.7% Marathon Petroleum Corp. (NYSE: MPC) -9.4%

Latest Ratings for PSX

DateFirmActionFromTo
Jun 2016Morgan StanleyDowngradesOverweightEqual-weight
Jun 2016JP MorganMaintainsNeutral
May 2016UBSInitiates Coverage onNeutral

View More Analyst Ratings for PSX
View the Latest Analyst Ratings

Posted-In: Analyst Color News Analyst Ratings

 

Related Articles (MPC + PBF)

View Comments and Join the Discussion!