Valero Energy Corporation reported earnings this morning, and it’s not pretty. The company had a net loss of $3.3 billion, or EPS of -$6.36. The loss includes an impairment charge against goodwill…
Douglas A. McIntyre Lower oil prices were supposed to be good for the refiners. Yesterday, Marathon Oil Corporation (NYSE:MRO) released its interim update for the fourth quarter of 2008. Today, Tesoro Corporation (NYSE:TSO) followed suit,…
A Bloomberg review of the S&P 500 stocks shows that the fourth quarter of 2008 will probably be the sixth quarter of declining earnings. According to the news service, "Fourth-quarter profit at…
On December 12th, the US Energy Information Agency reported that the cost of a barrel of crude in the US was $36.58/barrel. On December 22nd, conventional regular gasoline in the US sold…
Energy stocks have taken a pounding since crude oil prices started falling in July. In virtually every part of the energy business, share prices for the premiere companies are off by as…
Frontier Oil (NYSE:FTO) released its third quarter earnings yesterday, and the news was not good. EPS was $0.70, down from $1.28 a year ago, and below analysts’ estimates of $0.73. Revenues rose…
These are some the top pre-market analyst downgrades we have seen with more than two hours until the open this Tuesday morning: Banco Santander (STD) Cut to Sell at UBS. Exxon Mobil…
This has been a very sketchy earnings season, and the crazy stock markets have offered very little help in being able to evaluate many companies. But despite the massive drop in oil…
Valero Energy Corp. (NYSE: VLO) looks set to surge after the refinery giant posted earnings. The company posted $1.86 EPS from continuing operations, which may have some questionable numbers because some other…
Douglas A. McIntyre Valero Energy Corp. (NYSE: VLO) is set to report earnings Tuesday morning. First Call has estimates pegged at $1.46 per share and $36.43 billion in revenue. Oil companies and refiners rarely give…
Douglas A. McIntyre These are some of the top analyst pre-market upgrades we are seeing early this Monday morning: Anadarko Petroleum (APC) Raised to Outperform at Oppenheimer. Apache (APA) Raised to Outperform at Oppenheimer. Applied…
Marathon Oil (NYSE:MRO) today gave an interim update on its third quarter performance. The company will announce earnings on October 30th. Production is expected to be up by about 34,000 barrels of…
As you will see below, there were many key changes to short sales in oil stocks. Some of these would have been expected to have gone up because oil was so weak. …
Valero Energy (NYSE:VLO) today released a presentation it will be making at the Lehman Brothers (NYSE:LEH) Energy and Power Conference later this week. The presentation put a bit of meat on the…
It’s no secret the oil refining margins have been dropping like a rock for the past few quarters. When pump prices began to approach a US-wide average of about $4/gallon, US drivers…
