Oil Refinery Stocks To Buy
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Oil Refinery Stocks To Buy
Find statistics on crude oil, gasoline, diesel, propane, jet fuel, ethanol, and other liquid fuels. Click on the blue bars below for information on petroleum prices, crude reserves and production, refining and processing, imports/exports, movements, stocks, and consumption/sales.
Several energy stocks look to be setting up for another rally, and using the Zacks Rank, I have identified three that look particularly promising. Based on their rankings, it is likely that these stocks will outperform over the next few months.
Headquartered in Sugar Land, Texas, CVR Energy CVI is an independent refiner and marketer of high value transportation fuels such as gasoline and diesel. CVI owns and operates a coking medium-sour crude oil refinery in Kansas and a crude oil refinery in Oklahoma. The business serves retailers, railroads, farms and other refineries and marketers.
Even with the stellar performance that the energy sector put up in 2022, many of the stocks still have reasonable valuations. If you pair that with the fact that many of these stocks have improving earnings, you have a very compelling setup for a bull run. Investors who are comfortable going against the current bearish sentiment in the energy market may be rewarded by buying now.
A third wave of worldwide refinery rationalisation is currently underway. Global shutdowns of 3.6 mb/d have already been announced, but a total of at least 6 mb/d will be required to allow utilisation rates to return to above 80%.
Sinopec's FY 2020 profit fell 42% Y/Y to 5.1B, the lowest since 2015 due to the global pandemic and extensive lockdowns. The company, however, expects the current year to be much better and says it plans to increase capital spending by 24% to $25.55B while raising refinery throughput by 5.5% this year to 250M metric tons, or 5M bbl/day.
But financial institutions including Bank of America, RBC, and now Morgan Stanley have all backed one sector - energy - as a solid defensive investment where stocks can still perform strongly. In its latest research report, Morgan Stanley has focussed on how the major companies in the UK and continental Europe performed in the fourth quarter of 2021.
Energy stocks are up around 26% year-to-date in 2022 - but the combination of high inflation and geopolitical tensions could mean that the sector will continue to perform strongly. Commodities like oil, gold, and copper tend to perform well during high inflation because of their strong correlation to the price of finished goods.
Morgan Stanley also noted that soaring commodity prices will provide an additional boost for energy stocks. Oil is up 21% to just over $93 per barrel so far this year at its highest since late 2014, and Rats' team predicted it will pass $100 by the third quarter of 2022.
Morgan Stanley raised its price targets for four European energy stocks, and recommended adding two others to a portfolio based on their long-term investment strategies. Insider breaks down those stocks below, sorted by total market cap:
There is a lot of noise around how volatile gas prices are as the Russia-Ukraine war continues into the winter. However, one of the areas of the oil sector that needs attention right now is diesel. Amid burgeoning demand, tight supply, and inflating prices, Suncor Energy (NYSE: SU) (TSE: SU) and Valero Energy (NYSE: VLO) are two diesel stocks that stand to ride the wave.
The Delaware City refinery has a throughput capacity of 180,000 bpd and a Nelson complexity rating of 13.6. As a result of its configuration and petroleum refinery processing units, Delaware City has the capability to process a diverse heavy slate of crudes with a high concentration of high sulfur crudes making it one of the largest and most complex refineries on the East Coast.
The refinery is located on a 5,000-acre site on the Delaware River, with the ability to accept crude by rail or waterborne cargoes. It possesses an extensive distribution network of pipel
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