CVR Energy, Inc. (CVI), Tesoro Co. (TSO), Anadarko Petroleum (APC), Hess Corp. (HES), Marathon Oil Co. (MRO), Talisman Energy (TLM) and AeroVironment (AVAV) had ratings and price targets on them adjusted by analysts.
Macquarie downgraded CVR Energy, Inc. (CVI) from a "Outperform" rating to a "Neutral" rating.
Bank of America upgraded Tesoro Co. (TSO) from a "Underperform" rating to a "Neutral" rating.
Global Hunter Securities initiated coverage on Anadarko Petroleum (APC). They placed a "Buy" rating and price target of $102.00 on the company.
Global Hunter Securities initiated coverage on Hess Corp. (HES). They placed a "Neutral" rating and price target of $70.00 on the company.
Global Hunter Securities initiated coverage on Marathon Oil Co. (MRO). They placed a "Neutral" rating and price target of $37.00 on the company.
Global Hunter Securities initiated coverage on Talisman Energy (TLM). They placed a "Neutral" rating " rating and price target of $14.50 on the company.
EarlyBird Capital downgraded AeroVironment (AVAV) from a "Buy" rating to a "Hold" rating.
Showing posts with label CVR Energy. Show all posts
Showing posts with label CVR Energy. Show all posts
Wednesday, March 7, 2012
Tuesday, October 26, 2010
Marathon (NYSE:MRI), Holly (NYSE:HOC) Upgraded to "Buy" on Strong Refinery Margins
While Deutsche Bank (NYSE:DB) believes the refining industry needs to be shrunk in the U.S., there is good news for companies like Marathon (NYSE:MRI) and Holly (NYSE:HOC) serving in that capacity, as margins are up and earnings will follow as a result.
Both companies were upgraded to "Buy" on enhanced margins.
Deutsche Bank said, "Demand is weak and expected to never attain its previous peaks; but more refining capacity has been added. The need is to retire refineries, a slow and painful aging process for a twilight industry. However in this note we list the many positive factors that have driven US refining margins, particularly in the MidCon, towards the upper end of the 2000-2010 range. Long MidCon: Raise Marathon to BUY, Holly to BUY, re-iterate ConocoPhillips (NYSE:COP) BUY, Frontier (NYSE:FTO) BUY, CVR Energy (NYSE:CVI) BUY."
It seems Deutsche is wrong concerning oil refinery capacity, which has caused problems in the past in the U.S. when a number of them were shut down.
Both companies were upgraded to "Buy" on enhanced margins.
Deutsche Bank said, "Demand is weak and expected to never attain its previous peaks; but more refining capacity has been added. The need is to retire refineries, a slow and painful aging process for a twilight industry. However in this note we list the many positive factors that have driven US refining margins, particularly in the MidCon, towards the upper end of the 2000-2010 range. Long MidCon: Raise Marathon to BUY, Holly to BUY, re-iterate ConocoPhillips (NYSE:COP) BUY, Frontier (NYSE:FTO) BUY, CVR Energy (NYSE:CVI) BUY."
It seems Deutsche is wrong concerning oil refinery capacity, which has caused problems in the past in the U.S. when a number of them were shut down.
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