Refiners May Be Fully Valued: Deutsche Bank Has Just 3 to Buy Now
So are any refiners still a buy? In a new research report, Deutsche Bank says yes, though not many are attractive now.
So are any refiners still a buy? In a new research report, Deutsche Bank says yes, though not many are attractive now.
After a brutal year for oil pricing, some companies may be looking very attractive to majors and the large exploration and production companies. We found four well-known stocks on the RBC list.
Peabody Energy has told the SEC that there is "substantial doubt whether we will be able to continue as a going concern." The only surprise here is how long this took.
SunEdison has filed a statement with the SEC that it will delay filing its 2015 Form 10-K annual report beyond the extended due date of March 15.
TerraForm Power filed a notice with the U.S. Securities and Exchange Commission on February 29 delaying the filing of its Form 10-K annual report until March 15, the extended filing deadline.
The announced cuts to capital spending in the oil and gas exploration and production business average over 50%, with cuts of up to 80% at some firms.
OPEC coyly noted the positive sentiment in the oil markets "arising from the efforts of major producers to trim output" along with falling U.S. production and "healthy physical oil markets."
The average price across the United States for a gallon of gasoline rose about 12 cents last week. Gas prices are now at their highest level since early January, according to GasBuddy.
While the price of oil has changed, the need for solid income flow, especially with interest rates at historic lows, has not changed.
Probably due to the surging price of oil, primarily, gas prices will not drop to $1 anytime soon.
In the week ended March 11, the number of rigs drilling for oil in the United States totaled 386, according to the latest Baker Hughes North American Rotary Rig Count.
The price for a gallon of regular gasoline is above $5 in small pockets of California and Florida, and near $4 in other places.
Goldman Sachs now sees a higher floor in oil and is making key changes in its ratings on oil and gas stocks. There are some caveats, though.
This 50% rally in oil has been met with broad skepticism, flooded with analyst warnings that it will not last.
In its March report, the IEA said that February's global crude oil supply declined by 180,000 barrels a day year over year and averaged 96.5 million barrels a day.