The Zacks Analyst Blog Highlights: ExxonMobil, Chevron, ConocoPhillips, Valero Energy and Tesoro - Press Releases

By
A A A

For Immediate Release

Chicago, IL - April 20, 2012 - Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include ExxonMobil Corp.  ( XOM ), Chevron Corp.  ( CVX ), ConocoPhillips ( COP ), Valero Energy Corp.  ( VLO ) and Tesoro Corp.  ( TSO ).

Get the most recent insight from Zacks Equity Research with the free Profit from the Pros newsletter: http://at.zacks.com/?id=5513


Here are highlights from Thursday's Analyst Blog:

Crude Supplies Jump to 11-Month High

The U.S. Energy Department's weekly inventory release showed that crude stockpiles jumped to their highest level since May 2011, as imports climbed. However, on the bullish side, the agency's report revealed that refined product inventories - gasoline and distillate - dropped sharply from their previous week levels on stronger demand. Meanwhile, refinery utilization rate reflected an increase of 0.8%.

The Energy Information Administration ("EIA") Petroleum Status Report, which contains data for the previous week ending Friday, outlines information regarding the weekly change in petroleum inventories held and produced by the U.S., both locally and abroad.

The report provides an overview of the level of reserves and their movements, thereby helping investors understand the demand/supply dynamics of petroleum products. It is an indicator of current oil prices and volatility that affect businesses of companies engaged in the oil and refining industry, such as  ExxonMobil Corp.  ( XOM ),  Chevron Corp.  ( CVX ),  ConocoPhillips ( COP ),  Valero Energy Corp.  ( VLO ) and  Tesoro Corp.  ( TSO ).

Analysis of the Data

Crude Oil:  The federal government's EIA report revealed that crude inventories rose by 3.86 million barrels for the week ending April 13, 2012, after climbing by 2.79 million barrels the week before. In fact, oil supplies have shot up by 22.76 million barrels over the past month, the largest four-week accumulation since February 2009.

Analysts surveyed by Platts had expected oil stocks to go up some 400,000 barrels. An uptick in the level of imports led to the stockpile build-up with the world's biggest oil consumer even as refiners improved their utilization rates.

In particular, crude inventories at the Cushing terminal in Oklahoma - the key delivery hub for U.S. crude futures traded on the New York Mercantile exchange - increased by 592,000 barrels from previous week's level to 41.18 million barrels, the most since the week ending May 6, 2011. Stocks reached an all-time high of 41.90 million barrels in April last year.

At 369.05 million barrels, current crude supplies are 3.4% above the year-earlier level, and are in the upper limit of the average for this time of the year. The crude supply cover was up from 25.2 days in the previous week to 25.4 days. In the year-ago period, the supply cover was 25.1 days.

Gasoline:  Supplies of gasoline decreased for the ninth consecutive week as domestic consumption edged up and imports plunged. In particular, stockpiles on the East Coast - currently confronted with the prospect of three refinery shutdowns this summer - declined 2.30 million barrels.

The 3.67 million barrels drop - contrary to projections for a stock build - took gasoline stockpiles down to 213.97 million barrels, the lowest since November last year. The existing inventory level of the most widely used petroleum product is 2.8% above the year-earlier levels and is in the upper limit of the average range.

Distillate:  Distillate fuel supplies (including diesel and heating oil) decreased by 2.91 million barrels last week, compared to analyst expectations for an unchanged inventory level. The fall in distillate fuel stocks - the eighth decline in 10 weeks - could be attributed to stronger demand, partially offset by higher imports and production.

At 128.98 million barrels, distillate supplies are 13.0% below the year-ago level and are in the middle of the average range for this time of the year.

Refinery Rates:  Refinery utilization was up 0.8% from the prior week at 84.6%, in line with analyst with expectations.

Want more from Zacks Equity Research? Subscribe to the free Profit from the Pros newsletter: http://at.zacks.com/?id=5515 .

About Zacks Equity Research

Zacks Equity Research provides the best of quantitative and qualitative analysis to help investors know what stocks to buy and which to sell for the long-term.

Continuous coverage is provided for a universe of 1,150 publicly traded stocks. Our analysts are organized by industry which gives them keen insights to developments that affect company profits and stock performance. Recommendations and target prices are six-month time horizons.

Zacks "Profit from the Pros" e-mail newsletter provides highlights of the latest analysis from Zacks Equity Research. Subscribe to this free newsletter today: http://at.zacks.com/?id=5517

About Zacks

Zacks.com is a property of Zacks Investment Research, Inc., which was formed in 1978 by Leon Zacks. As a PhD from MIT Len knew he could find patterns in stock market data that would lead to superior investment results. Amongst his many accomplishments was the formation of his proprietary stock picking system; the Zacks Rank, which continues to outperform the market by nearly a 3 to 1 margin. The best way to unlock the profitable stock recommendations and market insights of Zacks Investment Research is through our free daily email newsletter; Profit from the Pros. In short, it's your steady flow of Profitable ideas GUARANTEED to be worth your time! Register for your free subscription to Profit from the Pros at http://at.zacks.com/?id=5518 .

Visit http://www.zacks.com/performance for information about the performance numbers displayed in this press release.

Follow us on Twitter: http://twitter.com/zacksresearch

Join us on Facebook: http://www.facebook.com/home.php#/pages/Zacks-Investment-Research/57553657748?ref=ts

Disclaimer: Past performance does not guarantee future results. Investors should always research companies and securities before making any investments. Nothing herein should be construed as an offer or solicitation to buy or sell any security.

Media Contact
Zacks Investment Research
800-767-3771 ext. 9339
support@zacks.com

http://www.zacks.com


 
CONOCOPHILLIPS ( COP ): Free Stock Analysis Report
 
CHEVRON CORP ( CVX ): Free Stock Analysis Report
 
TESORO CORP ( TSO ): Free Stock Analysis Report
 
VALERO ENERGY ( VLO ): Free Stock Analysis Report
 
EXXON MOBIL CRP ( XOM ): Free Stock Analysis Report
 
To read this article on Zacks.com click here.



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.



This article appears in: Investing , Stocks

Referenced Stocks: COP , CVX , TSO , VLO , XOM

Zacks.com

Zacks.com

More from Zacks.com:

Related Videos

Stocks

Referenced

Most Active by Volume

33,110,376
  • $113.99 ▲ 1.77%
25,034,179
    $17.98 unch
24,486,872
  • $7.41 ▲ 2.07%
20,864,535
  • $7.39 ▼ 2.76%
18,600,501
  • $8.30 ▼ 0.36%
17,530,211
  • $8.14 ▲ 3.17%
17,299,208
  • $93.79 ▲ 2.74%
14,669,760
  • $25.78 ▼ 0.19%
As of 12/26/2014, 04:15 PM


Find a Credit Card

Select a credit card product by:
Select an offer:
Search
Data Provided by BankRate.com