|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]
- This is not company news. We are an independent source and our views do not reflect the companies mentioned.
- Information in this release is fact checked and produced on a best efforts basis and reviewed by a CFA. However, we are only human and are prone to make mistakes. If you notice any errors or omissions, please notify us below.
- This information is submitted as a net-positive to companies mentioned, to increase awareness for mentioned companies to our subscriber base and the investing public.
- If you wish to have your company covered in more detail by our team, or wish to learn more about our services, please contact us at pubco@EquityNewsNetwork.com.
- For any urgent concerns or inquires, please contact us at compliance@EquityNewsNetwork.com.
- Are you a public company? Would you like to see similar coverage on your company? Send us a full investors' package to research@EquityNewsNetwork.com for consideration.
Content is researched, written and reviewed on a best-effort basis. This document, article or report is prepared and authored by Equity News Network. An outsourced research services provider has, through Chartered Financial Analysts, only reviewed the information provided by Equity News Network in this article or report according to the Procedures outlined by Equity News Network. Equity News Network is not entitled to veto or interfere in the application of such procedures by the outsourced provider to the articles, documents or reports, as the case may be.
NOT FINANCIAL ADVICE
Equity News Network makes no warranty, expressed or implied, as to the accuracy or completeness or fitness for a purpose (investment or otherwise), of the information provided in this document. This information is not to be construed as personal financial advice. Readers are encouraged to consult their personal financial advisor before making any decisions to buy, sell or hold any securities mentioned herein.
NO WARRANTY OR LIABILITY ASSUMED
Equity News Network is not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted by Equity News Network whatsoever for any direct, indirect or consequential loss arising from the use of this document. Equity News Network expressly disclaims any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Equity News Network does not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.
SOURCE Wall Street Reports