|By PR Newswire||
|June 14, 2013 08:00 AM EDT||
NEW YORK, June 14, 2013 /PRNewswire/ --
Today, Wall Street Reports announced new research reports highlighting Valero Energy Corporation (NYSE:VLO), Tesoro Corporation (NYSE:TSO), Marathon Oil Corporation (NYSE:MRO), Calumet Specialty Products Partners LP (NASDAQ:CLMT), and Ferrellgas Partners LP (NYSE:FGP). Today's readers may access these reports free of charge - including full price targets, industry analysis and analyst ratings - via the links below.
Valero Energy Corporation Research Report
On May 29, 2013, Reuters reported that independent U.S. refiner Valero Energy Corporation (Valero) intends to spend up to $190 million to enable its Quebec refinery to use cheaper Western Canadian crude rather than relying on pricier imports. Valero will build a rail off-loading facility at its 265,000-barrel per day Jean Gaulin refinery in Levis, Quebec, and expand the terminal at its Montreal East facility, in anticipation of the proposed reversal of Enbridge Inc.'s Line 9 pipeline connecting Ontario and Quebec. A reversed Line 9 would transport up to 300,000 bpd, and ship western Canadian crude eastward rather than transporting more expensive Brent crude oil from the North Sea, West Africa and the Middle East in a westbound direction. The Full Research Report on Valero Energy Corporation - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at: [http://www.wsreports.com/r/full_research_report/335e_VLO]
Tesoro Corporation Research Report
On June 3, 2013, Tesoro Corporation (Tesoro) announced that it has completed the acquisition of British Petroleum (BP)'s fully integrated Southern California Refining and Marketing business for a little over $1 billion. The acquired assets include the 266 thousand barrel per day (mbpd) high conversion Carson refinery and over 800 dealer operated retail stations. On the same day, the Company announced that its subsidiary, Tesoro Logistics LP closed the acquisition of the first portion of the integrated Carson logistics assets for $640 million. The acquisition includes six marketing and storage terminal facilities with a total combined throughput capacity of about 225 mbpd and approximately 6.4 million barrels of total storage capacity. The remaining Carson logistics assets, consisting of dedicated storage capacity, pipelines and marine terminals, are expected to be offered to TLLP within 12 months, and have an expected market value of between $450 and $550 million. The Full Research Report on Tesoro Corporation - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at: [http://www.wsreports.com/r/full_research_report/0fe6_TSO]
Marathon Oil Corporation Research Report
On May 23, 2013, Marathon Oil Corporation (Marathon Oil) announced that talks on a potential sale of part of its stake in the Athabasca Oil Sands Project in Canada have ended as the Company could not arrive at an agreement with the prospective purchaser and negotiations were terminated. The Athabasca project is a joint venture between Marathon Oil, Royal Dutch Shell Plc and Chevron Corp. that extracts a thick form of crude known as bitumen from sand formations. Shell holds a 60% stake and serves as the project's operator. Meanwhile, the Company intends to continue with its plan to sell assets between $1.5 billion and $3 billion under its three-year asset sale program that ends in 2013. Till date, it has announced or closed about $1.3 billion asset sale deals. The Full Research Report on Marathon Oil Corporation - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at: [http://www.wsreports.com/r/full_research_report/5a8c_MRO]
Calumet Specialty Products Partners LP Research Report
On May 8, 2013, Calumet Specialty Products Partners LP (Calumet) released its Q1 2013 results, posting net income of $46.0 million, down from $51.9 million in Q1 2012 and revenue of $1.3 billion, up from $1.2 billion in Q1 2012. "Although our results were adversely impacted by reliability issues at our Shreveport refinery during the first quarter, the second quarter is off to a good start, supported by strong refining economics and improved utilization at our key production facilities," said Vice President and CEO, Bill Grube. "Beginning in early April, both demand and pricing for products sold in our core markets improved above first quarter levels." During the quarter, the Company declared a quarterly cash distribution of $0.68 per share ($2.72 on an annualized basis) on all outstanding limited partner units, or $51.9 million. The Full Research Report on Calumet Specialty Products Partners LP - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at: [http://www.wsreports.com/r/full_research_report/f00f_CLMT]
Ferrellgas Partners LP Research Report
On June 6, 2013, Ferrellgas Partners LP (Ferrellgas) released its Q3 FY 2013 (period ended July 31, 2013) results, posting net income of $44.2 million or $0.56 per share, up from $20.6 million or $0.26 per share in Q3 FY 2012, while revenue came in at $603.0 million, down 4.2% YoY from $629.6 million in Q3 FY 2012 on lower propane sale prices to customers. Meanwhile, analysts polled by FactSet had expected earnings of $0.49 per share on $577.3 million in revenue. "We are extremely proud of our operational and financial performance this year as it is indicative of what our operations are capable of producing for investors in a more normal operating environment," said President and CEO Steve Wambold. The Full Research Report on Ferrellgas Partners LP - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at: [http://www.wsreports.com/r/full_research_report/68aa_FGP]
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SOURCE Wall Street Reports