Market Overview

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

Share:
Related PSX
An Energy ETF That's Actually Surging
Pete Najarian Sees Unusual Options Activity In Phillips 66
Related VLO
Watch These 7 Huge Put Purchases In Monday Trade
One Reason Trump May Not Ban Oil From Brutalized Venezuela? US Gas Prices Would Shoot Up

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
Aug 2017BarclaysMaintainsEqual-Weight
May 2017PiperJaffrayReinstatesOverweight
Oct 2016BarclaysMaintainsEqual-weight

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!
Loading...
Loading...