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NGLs Week

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Petchems stocks move up results as crude, indexes strengthen: PCW index

HOUSTON, March 18, 2016 (PCW) –- Petchems companies’ stocks made gains during the week on the back of rising crude and strong showings by the Dow Jones and S&P 500 indexes.

The midstream sector, which usually follows crude’s lead, was the week’s biggest gainer. Its average stock price rose $1.83/share, or 7.89%, to $25.02/share. Targa saw the largest increase with its stock price up 10.77% on the week on news of increased buying from institutional investors as several analysts upgraded the company’s stock to a ‘Buy.’

The vinyls group was next with its average stock price up $1.94/share, or 5.87%, to $34.91/share. Ply Gem took pole position as its stock price picked up 18.43%. The North Carolina-based building components company reported its 4Q and 2015 earnings on Monday, which beat Wall Street estimates.

The olefins/polyolefins sector’s average stock price advanced $2.89/share, or 5.08%, to $59.83/share. Williams’ stock price continued to recover from lows seen earlier in the year, posting an 11.77% week-on-week rise. Not only did institutional investors increase their positions in the company’s stock, but SEC filings this week revealed the Tulsa-based company remains committed to completing its sale to Energy Transfer by the first half of the fiscal year.

Finally, the aromatics/refinery group saw its share price increase by $1.47/share, or 2.45%, to $61.23/share. Shell’s stock price saw the biggest surge, rising 6.04% during the week, as news of the end of its joint venture with Saudi Aramco. This gives the supermajor complete control of the Norco and Convent refineries in Louisiana, which ups Shell’s gasoline production and affords opportunities for greater efficiencies and integration with its Norco petrochemicals plant.–- Samantha Hartke

*Index components:

Weekly Stock Price Index
  This Week Last Week Difference % Difference
Midstream Average 25.02 23.19 1.83 7.89
Olefins/Polyolefins Average 59.83 56.94 2.89 5.08
Aros/Refinery Average 61.23 59.77 1.47 2.45
Vinyls Average 34.91 32.98 1.94 5.87
Major Economic Indicators
  This Week Last Week Difference % Difference
EUR/USD 1.13 1.11 0.02 1.75
Dow Jones Indices 17481.49 16995.13 486.36 2.86
S&P 500 2040.59 1989.57 51.02 2.56
WTI crude 40.20 37.84 2.36 6.24