John Leonard, CFA • Tue, Dec. 2
Blue Dolphin Energy: Negative Macro Backdrop Overshadowing Positive Company-Specific FundamentalsJohn Leonard, CFA • Tue, Dec. 2
- The stock is down by more than half in 2H14 due to the relentless selling in energy stocks and prices.
- However, the depressed valuation of <4x EBITDA more than prices in lower refining margins going forward and a discount for the dependence on a single refinery still undergoing operational improvements.
- An improving product mix led by increasing jet fuel production should continue to boost margins.
- The location in the Eagle Ford shale play enables the refinery to process abundant and cheap low-sulfur crude oil, which produces higher valued products.
- An expected increase in utilization and operating days as well as eventual capacity expansion should drive significantly higher throughput volumes.
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Feb. 4, 2013, 3:58 PM
Feb. 13, 2012, 12:14 PMA number of small-sized oil companies go on a tear after more hostilities with Iran around the globe keeps traders betting on the best energy plays. After pricing in risk on Big Oil, it's the micro caps in the spotlight today with Royale Energy (ROYL +14.1%), Mexco Energy (MXC +14.8%), and Pyramid Oil (PDO +6.4%) posting big gains - and Blue Dolphin Energy (BDCO) taking the cake with a 66.2% runup. | 1 Comment
Feb. 23, 2011, 2:10 PM
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Blue Dolphin Energy Company is primarily an independent refiner and marketer of petroleum products. The company also gathers and transports oil and natural gas, as well as has leaseholds interests in oil and gas properties.
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