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Petchems stocks recover as crude jumps 17% on the week: PCW index
HOUSTON, February 19, 2016 (PCW) -– Petchems companies’ stocks took back some ground as crude rallied and a stronger performance from stock indexes lent further support.
WTI crude settled Thursday at $30/77/bbl, up 17.4% on the week.
The midstream sector was the biggest gainer with its average stock price up $5.01, or 31.14%, to $21.11/share. Targa led the pack with its stock price up 49.25% on the week, boosted by its completed acquisition of its master limited partnership on Wednesday.
The vinyls sector was next with its average stock price rising $2.16, or 7.18%, to $32.26/share. Olin’s stock was in the lead, advancing 10.57% week-on-week. Financial analysts pointed to heavy buying of the company’s stock by several of its executives this week.
The olefins/polyolefins group saw its average stock price move up $3.60, or 7.01%, to $54.97/share. Williams held pole position with its shares up 19.79%. Despite reporting a 4Q net loss of $701 million on Wednesday, Williams’ stock has been charting steady gains over the week with many analysts saying the stock had reached a point where buying once again appeared to be attractive.
Finally, the aromatics/refinery sector saw its average stock price climb $1.29, or 2.44%, to $54.05/share. Muting overall gains were losses from Valero, Tesoro and PBF Energy. The latter company took the biggest hit, with its share price down 4.68%, as several analysts downgraded its stock from ‘Buy’ to ‘Hold.’ – Samantha Hartke
Midstream: Enterprise Products Partners, Energy Transfer Partners. Targa Resources, Markwest Energy Partners, Sunoco Logistics, Kinder Morgan, Boardwalk Pipeline Partners and Oneok.
Olefins/Polyolefins: Dow Chemical, Dupont, Eastman Chemical, Westlake Chemical, Williams, ExxonMobil, Shell, LyondellBasell, Axiall, Occidental Petroleum.
Aromatics/Refinery: ExxonMobil, Shell, Phillips 66, Tesoro, Valero, Alon USA Energy, Chevron, Marathon Petroleum and PBF Energy.
Vinyls: Westlake, Axiall, Occidental Petroleum, Olin, Ply Gem, Armstrong World Industries, PolyOne.