Company Overview and News
The EIA estimates that US distillate inventories fell by 799,000 barrels to 124.7 MMbbls (million barrels) on November 3–10, 2017. Inventories fell 0.6% week-over-week and by 23.8 MMbbls or 16.04% YoY (year-over-year). (15-0)
Independent refiner and marketer Andeavor (ANDV - Free Report) reported third-quarter 2017 adjusted earnings from continuing operations of $2.70 per share, which missed the Zacks Consensus Estimate of $3.03. A decline in Retail and Branded fuel margins margins and increased operating expenses resulted in the earnings miss. The bottom line, however, increased from the year-ago quarter figure of $1.43 per share on strong performance of the refining segment. (9-0)
Andeavor (ANDV) saw an expansion in its gross refining margin by $6.0 per barrel YoY (or year-over-year) to $15.1 per barrel in 3Q17. Its operating costs fell by $0.1 per barrel YoY to $5.0 per barrel in 3Q17. The rise in gross margin plus a fall in operating cost led to an increase in net refining margin. (3-0)
Andeavor (ANDV) posted its 3Q17 results on November 8, 2017. It reported revenues of $9.8 billion, which surpassed Wall Street analysts’ estimates. However, the company’s 3Q17 adjusted EPS (earnings per share) stood at $2.9 compared to its estimated EPS of $3.0, missing the consensus estimates. But ANDV’s 3Q17 adjusted EPS stood 118% higher than its 3Q16 adjusted EPS. (3-0)
Good day, ladies and gentlemen, and welcome to the Q3 2017 Andeavor Earnings Conference Call. At this time, all participants are in a listen-only mode. Following management's prepared remarks, we will host a question-and-answer session and our instructions will be given at that time. [Operator Instructions] As a reminder, this conference is being recorded for replay purposes. (31-0)
The EIA (U.S. Energy Information Administration) estimates that weekly US gasoline demand rose by 147,000 bpd (barrels per day) to 9,461,000 bpd on October 20–27, 2017. US gasoline demand rose 1.6% week-over-week and by 278,000 bpd or 3% YoY (year-over-year). The four-week average US gasoline demand rose by 55,000 bpd to 9,348,000 bpd on October 20–27, 2017. Gasoline demand rose 0.6% week-over-week and by 257,000 bpd or 2. (61-0)
Independent oil refiner and marketer Andeavor (ANDV - Free Report) is set to release third-quarter 2017 results after the closing bell on Nov 8. (5-0)
Welcome to the Third Quarter 2017 Earnings Conference Call. My name is Paulette and I will be your operator for today's call. At this time, all participants are in a listen-only mode. Later, we will conduct a question-and-answer session. (27-0)
The EIA (U.S. Energy Information Administration) estimates that the four-week average US gasoline demand fell by 76,000 bpd (barrels per day) to 9,345,000 bpd on October 6–13, 2017. The demand fell 0.8% week-over-week but rose by 262,000 bpd or 2.8% YoY (year-over-year). The YoY rise in the gasoline demand is bullish for gasoline (UGA) and crude oil (OIL) (USO) (DTO) prices. (6-0)
The US Energy Information Administration (or EIA) released its “Weekly Petroleum Status Report” on October 12. It reported that gasoline inventories rose by 2.4 MMbbls (million barrels) to 221.4 MMbbls from September 29 to October 6. However, US inventories are down 1.7% or 4 MMbbls year-over-year. (17-0)
At the beginning of 2017, Andeavor (ANDV) stock fell. This fall was likely due to Andeavor’s 4Q16 earnings, which missed estimates, and high gasoline and distillate inventories. But ANDV’s 50-day moving average stayed above its 200-day moving average in the first quarter. (1-0)
November WTI (West Texas Intermediate) crude oil (UWT)(DWT)(DBO) futures contracts fell 0.2% and were trading at $52.12 per barrel in electronic trading at 2:20 AM EST on September 26. (4-0)
Merchant refiners 2017 RIN expenditure estimates have been revised sharply upward since Q1 as RIN prices have recorded large gains.
The EIA (U.S. Energy Information Administration) released its weekly crude oil inventory report on August 16, 2017. It reported that US gasoline inventories rose by 22,000 barrels or 0.1% to 231.1 MMbbls (million barrels) on August 4–11, 2017. Inventories rose for the second straight week. US gasoline inventories fell by 1.5 MMbbls or 0.7% YoY (year-over-year).
Pipeline operator, Andeavor Logistics LP (ANDX - Free Report) announced recently that it will acquire rival Western Refining Logistics LP (WNRL - Free Report) , including the latter’s $310 million net debt, to extend its hold in the prolific Permian Basin, TX.
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