Market Overview

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

Share:
Related PSX
The Century-Old Index: How A Basket Of Companies Turning 100 In 2017 Is Performing Against The Market
The Market In 5 Minutes: Amazon Lower, Payrolls Higher
Why The Record Warm Winter Fooled Most Forecasters, Commodities And The End Of The California Drought (Seeking Alpha)
Related VLO
The Market In 5 Minutes: Under Armour's Miss, Apple's Q1 Primer
Earnings Scheduled For January 31, 2017
Can 20 Financial Ratios Measure A Company's Moat Just Like Morningstar? Update (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
Oct 2016BarclaysMaintainsEqual-weight
Sep 2016Goldman SachsUpgradesSellNeutral
Sep 2016PiperJaffrayMaintainsNeutral

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!