- A potential collapse this year in domestic crude prices could push refiners higher, including Phillips 66 (PSX -0.3%) and PBF Energy (PBF +0.7%), Howard Weil says.
- "From a global perspective, macro [refining & marketing] dynamics are improving into ’14 with significant crude supply growth placing a theoretical ceiling on oil prices/feedstock costs while underlying demand growth remains intact, thereby supporting product prices," the firm writes.
- However, the firm endorses a slight tactical shift toward more defensive posturing with a focus on lower beta names and companies that screen at a discount from a valuation perspective, thus it cuts Delek US (DK -3.4%) and Tesoro (TSO -2%) to Sector Perform and raises PSX and PBF to Sector Outperform.
- Noble Energy (NBL -0.2%), Whiting Petroleum (WLL -0.2%) and Concho Resources (CXO -1.3%) are upgraded to Focus Stock.
Oil collapse fears could drive refiners higher, Howard Weil says
From other sites
at Nasdaq.com (Apr 9, 2015)
at MarketRealist.com (Apr 7, 2015)
at Zacks.com (Apr 7, 2015)
at Zacks.com (Mar 23, 2015)
at Benzinga.com (Jan 14, 2015)
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs