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NGLs Week

NGLs Week Newsletter  

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Petchems stocks mostly lower as crude, indexes sees losses: PCW index

HOUSTON, May 6, 2016 (PCW) –- Petchems companies’ stocks were largely lower during the week as crude and economic indexes gave up ground.

For the second week in a row, the midstream segment bucked the overall trend with its average stock price up 70 cents, or 2.5%, to $28.91/share. While most of the companies in this group took hits, they were buoyed by Oneok’s 12.09% stock price increase, thanks to its 37% increase in 1Q net income.

Conversely, crude’s 3.71% decrease during the week and softer reported 1Q earnings ensured the aromatics/refinery sector saw the week’s largest decline. Its average stock price fell $3.99, or 6.38%, to $58.57/share. Alon led the pack in losses with its stock price decreasing 18.76% during the week as it reported earnings per share and 1Q net income that fell far short of analysts’ expectations. As a result, several analysts on Thursday downgraded Alon’s stock price rating on other ‘overweight’ or ‘hold.’

The olefins/polyolefins group was next with its average stock price down $2.30, or 3.71%, to $59.68/share. Here, Westlake was in the lead with its stock price losing 7.52% of its value week-on-week. The company’s reported 1Q net profit was down 15.9% on lower commodity prices, and again missed the Street’s estimates by a mile. As a result, as of Thursday, several institutional investors had decreased their positions in Westlake stock.

The olefins/polyolefins group was next with its average stock price down $2.30, or 3.71%, to $59.68/share. Here, Westlake was in the lead with its stock price losing 7.52% of its value week-on-week. The company’s reported 1Q net profit was down 15.9% on lower commodity prices, and again missed the Street’s estimates by a mile. As a result, as of Thursday, several institutional investors had decreased their positions in Westlake stock.

Finally, the vinyls segment’s average stock price fell 63 cents, or 1.67%, to $37.26/share. Again, Westlake dragged the entire group lower with its stock price drop of 7.52% during the week. -- Samantha Hartke

*Index components:

Weekly Stock Price Index
  This Week Last Week Difference % Difference
Midstream Average 28.91 28.20 0.70 2.50
Olefins/Polyolefins Average 59.68 61.98 -2.30 -3.71
Aros/Refinery Average 58.57 62.56 -3.99 -6.38
Vinyls Average 37.26 37.89 -0.63 -1.67
Major Economic Indicators
  This Week Last Week Difference % Difference
EUR/USD 1.14 1.14 0.01 0.51
Dow Jones Indices 17660.71 17830.76 -170.05 -0.95
S&P 500 2050.63 2075.81 -25.18 -1.21
WTI crude 44.32 46.03 -1.71 -3.71