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NGLs Week

NGLs Week Newsletter  

PetroChem Wire and Genscape have partnered to create NGLs Week, a comprehensive summary of price trends, upstream and downstream costs, operations news and supply/demand forecasts. The report contains everything you'll need to understand what's happening in the NGL markets.

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Petchems stocks post mixed results as crude rallies, indexes dip: PCW index

HOUSTON, August 5, 2016 (PCW) -– Petchems companies’ stocks proved to be a mixed bag even as crude rallied, while economic indexes were mildly weaker. Most firms announced weaker second-quarter earnings this week with many of the supermajors and refiners posting hefty losses.

The midstream sector, however, followed crude’s 1.92% gain. Its average stock price rose $1.01/share, or 3.29%, to $31.62/share. Targa saw the biggest leap, rising 8.8% on the week. Despite reporting a 2Q net loss of $52.6 million on Wednesday, trading volumes of the company’s stock was markedly higher than average, pushing it significantly above its 50-day moving average.

The olefins/polyolefins group saw the lion’s share of losses with its average stock price down $1.84/share, or 3.05%, to $58.73/share. Eastman Chemical led the pack, losing 7.94% of its value. With its 2Q earnings missing The Street’s estimates by a mile, several analysts downgraded the company’s stock mid-week, leading to a sell-off.

The aromatics/refinery sector’s average stock price fell 14 cents/share, or 0.25%, to $57.05/share. While most refiners took hits during the week, Alon’s 8.37% stock price increase based on analyst upgrades, stemmed a deeper slide from the sector.

Finally, the vinyls group’s average stock price dipped 8 cents/share, or 0.22%, to $38.09/share. While most vinyls firms’ share prices were slightly lower on weaker earnings, Armstrong World Industries’ more solid quarterly performance and subsequent 2.72% price increase helped keep the sector afloat. – Samantha Hartke

*Index components:

Weekly Stock Price Index
  This Week Last Week Difference % Difference
Midstream Average 31.62 30.61 1.01 3.29
Olefins/Polyolefins Average 58.73 60.57 -1.84 -3.05
Aros/Refinery Average 57.05 57.20 -0.14 -0.25
Vinyls Average 38.09 38.18 -0.08 -0.22
Major Economic Indicators
  This Week Last Week Difference % Difference
EUR/USD 1.11 1.11 0.00 0.44
Dow Jones Indices 18352.05 18456.35 -104.30 -0.57
S&P 500 2164.25 2170.06 -5.81 -0.27
WTI crude 41.93 41.14 0.79 1.92