Andeavor’s Valuations: Where Does It Stand Ahead of 4Q17 Earnings?
In the previous part, we evaluated institutional ownership in Andeavor (ANDV). In this concluding part, we will consider Andeavor’s forward valuation in comparison to peers, before its 4Q17 earnings release.…
Institutional ownership in Andeavor (ANDV) currently stands at ~83% of outstanding shares.
Andeavor completed the Western Refining acquisition in 2Q17. As a result, its 3Q17 results showed a full quarter of integrated performance of the merged entity.
ANDV’s mean target price stands at $140.00 per share, which implies a 41.0% gain from the current level.
Implied volatility in ANDV has risen sharply by 13.8% since January 2, 2018, to its current level of 32.9%.
Since January 2018, Andeavor’s 50-day moving average has held above its 200-day moving average despite the steep fall in its stock price.
Since January 2, 2018, Andeavor (ANDV) stock has fallen 13.5%.
In 4Q17, Andeavor’s refining index values, which are regional crack indicators in the areas where ANDV operates, have fallen quarter-over-quarter but have risen year-over-year.
Andeavor (ANDV) is expected to post its 4Q17 results on February 15, 2018. According to Wall Street estimates, ANDV is expected to post earnings per share of $1.10 in 4Q17.
In the previous part of this series, we saw the changes in Phillips 66’s (PSX) stock price forecast range. Now, we’ll look at Phillips 66’s forward valuation compared to its peers.
In the previous part of this series, we looked at analyst ratings for Phillips 66 (PSX). In this part, we’ll review the changes in PSX’s implied volatility. We
In this series, we reviewed Phillips 66’s (PSX) 4Q17 earnings versus estimates. Plus, we analyzed PSX’s segmental performance and refining margin trends in 4Q17.
Phillips 66 (PSX) announced its 4Q17 results on February 2. PSX opened at $101.1 per share that day, higher than its previous close of $100.9.
In 4Q17, Phillips 66’s (PSX) total adjusted net income of $605 million rose 431% YoY. PSX’s Refining earnings rose from a loss of $95 million in 4Q16 to $358 million in 4Q17.
Phillips 66 (PSX) posted its 4Q17 results on February 2. Before we proceed with the earnings review, let’s quickly examine PSX’s 4Q17 performance versus its estimates.
Also, VLO is currently trading at a forward EV-to-EBITDA ratio of 6.9x, below the peer average of 7.2x.
Valero stock could close between $98.1 and $91.3 per share in the eight-day post-earnings period.
After the earnings release, Raymond James cut Valero’s target price from $107 per share to $106 per share.
Valero Energy (VLO) announced its results on February 1, 2018, before the market opened. Valero stock opened at $96.42 per share, above its previous day’s close of $95.97.
Valero Energy’s (VLO) gross refining margin rose by $0.93 per barrel over 4Q16 to $8.8 per barrel in 4Q17.