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Petchems stocks chart higher even as crude drops: PCW index
HOUSTON, June 3, 2016 (PCW) -– Petchems companies’ stocks rose during the week, despite crude’s dip and economic indexes’ minimal gains.
The midstream sector took pole position with its average stock price up 76 cents/share, or 2.53%, to $31.03/share. Energy Transfer’s 5.66% increase buoyed the group as the market continued to reward the news of its possible termination of its buyout of Williams and news this week Williams was open to revising the offer.
The aromatics/refinery group was next with its average stock price gaining 78 cents/share, or 1.35%, to $58.68/share. Alon was in the lead with its stock up 6.63% as several analysts raised their stock price ceilings to $16/share during the week amid higher-than-average trading volumes.
The olefins/polyolefins sector, meanwhile, saw its average stock price move up 17 cents/share, or 0.29%, to $59.96/share. Williams’ 8.6% stock increase on the week (due to the detangling from the Energy Transfer merger) was effectively nullified by losses from the supermajors in the group, who faltered alongside crude.
Finally, the vinyls group saw its stock price go almost unchanged at $37.03/share. Gains from most companies in the group were erased by losses by Axiall (down 4.2%) amid heavy trading. -– 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.