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CVX

Chevron

$108.35

2.02 (1.90%)

, PSX

Phillips 66

$80.94

1.86 (2.35%)

08:54
06/19/17
06/19
08:54
06/19/17
08:54

Chevron Phillips Chemical announces milestone on petrochemicals project

Chevron Phillips Chemical Company LP announced that the two polyethylene units of its $6B petrochemical investment on the U.S. Gulf Coast successfully achieved the major milestone of mechanical completion. The PE units are now undergoing a series of rigorous commissioning activities, system checks and final certifications to ensure a safe and reliable start-up, and consistent, high-quality production. Once operational, each PE unit will produce at least 500,000 metric tons of product annually. The PE units are in Old Ocean, Texas. Ethylene feedstock for the new units will be supplied via the company's ethylene pipeline and storage system that was also expanded as part of this project. Along with the PE units, the company purchased nearly 3,000 rail cars and constructed a state-of-the-art rail facility with the capacity to store 1,500 rail cars to ship PE pellets to customers around the world. The final element of the company's $6B U.S. Gulf Coast Petrochemicals Project entails the construction of a new ethane cracker in Baytown, Texas, that is expected to be completed in the fourth quarter of 2017. Chevron Phillips Chemical Company LP is an indirect wholly-owned subsidiary of Chevron Phillips Chemical Company LLC. Chevron Phillips Chemical Company LLC is equally owned by Chevron U.S.A. Inc., an indirect wholly-owned subsidiary of Chevron Corporation (CVX), and by wholly-owned subsidiaries of Phillips 66 (PSX), and is headquartered in The Woodlands, Texas.

CVX

Chevron

$108.35

2.02 (1.90%)

PSX

Phillips 66

$80.94

1.86 (2.35%)

CVX Chevron
$108.35

2.02 (1.90%)

05/26/17
EXAN
05/26/17
DOWNGRADE
Target $100
EXAN
Underperform
Chevron downgraded to Underperform from Neutral at Exane BNP Paribas
Exane BNP Paribas analyst Theepan Jothilingam downgraded Chevron to Underperform and lowered his price target for the shares to $100 from $105.
05/26/17
JPMS
05/26/17
NO CHANGE
JPMS
Overweight
Chevron shares could be worth $120-plus by year-end, says JPMorgan
JPMorgan analyst Phil Gresh says shares of Chevron could be worth $120 or more by yea-end if its execution goes well. The stock closed yesterday at $105.11. The analyst believes the company's free cash flow could see "sharp improvement" in the second half of 2017 as headwinds abate. He keeps an Overweight rating on the shares.
06/05/17
HSBC
06/05/17
UPGRADE
HSBC
Buy
Chevron upgraded to Buy from Hold at HSBC
06/05/17
06/05/17
UPGRADE
Target $119

Buy
Chevron upgraded to Buy on valuation at HSBC
As previously reported, HSBC upgraded Chevron to Buy from Hold. Analyst Gordon Gray changed his view citing year-to-date shares weakness and lowered his price target to $119 from $123 on Chevron shares.
PSX Phillips 66
$80.94

1.86 (2.35%)

09/30/16
09/30/16
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Qualcomm (QCOM) upgraded on potential NXP Semiconductors acquisition at Mizuho with the firm's analyst saying he believes a Qualcomm acquisition of NXP Semiconductors (NXPI) makes significant strategic and financial sense. 2. Skechers (SKX) upgraded to Positive from Neutral at Susquehanna. 3. Sprouts Farmers Markets (SFM) upgraded to Buy from Hold at Jefferies with analyst Christopher Mandeville saying the risk/reward is now favorable following the recent pullback in the shares. 4. Phillips 66 (PSX) upgraded to Neutral from Sell at Goldman with analyst Neil Mehta citing higher multiple assumptions for midstream and chemicals segments, reduced capex spending and higher free cash flow estimates, and more achievable consensus expectations. 5. NetApp (NTAP) upgraded to Buy from Sell at Summit Redstone with analyst Srini Nandury citing optimism that the company can grow its product revenue from current levels driven by AFA sales and increasing adoption of clustered ONTAP. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
03/24/17
FBCO
03/24/17
NO CHANGE
Target $83
FBCO
Neutral
Phillips 66 price target lowered to $83 from $90 at Credit Suisse
Credit Suisse analyst Edward Westlake lowered his price target for Phillips 66 to $83 from $90 on valuation. The analyst notes that Phillips 66 has been one of the more fully valued refiners for quite some time, but is getting closer to the time when the cash flow power of the company will expand to support its enterprise value. He reiterates a Neutral rating on the shares.
05/25/17
PIPR
05/25/17
UPGRADE
Target $88
PIPR
Overweight
Phillips 66 assumed with an Overweight from Neutral at Piper Jaffray
Piper Jaffray analyst Guy Baber upgraded Phillips 66 (PSX) to Overweight after assuming coverage of the name. The analyst keeps an $88 price target for the shares. He notes Tesoro (TSO) remains his top pick in the space.
05/25/17
05/25/17
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Chipotle (CMG) upgraded to Buy from Hold at Argus with analyst John Staszak saying he expects Chipotle to post above-peer-average growth over the next several quarters due to its new marketing initiatives, differentiated menu and unit expansion plans. Further, Staszak sees fast-casual restaurants like Chipotle growing faster than the overall restaurant industry. He points out that Chipotle posted a strong recovery in both comp sales and earnings in the first quarter. 2. Alliance Data (ADS) upgraded to Neutral from Sell at Compass Point. 3. PVH Corp. (PVH) upgraded to Overweight from Neutral at JPMorgan with analyst Matthew Boss citing the company's first quarter results. The beat and raise story in retail is a rarity, Boss tells investors in a research note. He sees increased visibility to a "sustainable double-digit bottom-line profile" over the longer term. 4. Marathon Petroleum (MPC) and Phillips 66 (PSX) were assumed with an Overweight from Neutral at Piper Jaffray. 5. Alexion (ALXN) upgraded to Overweight from Equal Weight at Morgan Stanley with analyst Matthew Harrison saying he believes investors are overlooking ALXN1210 upside potential, are too negative on Solris and believes new Chief Executive Officer Ludwig Hantson is making progress on refocusing efforts and right sizing the company. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

TODAY'S FREE FLY STORIES

INTT

inTEST

$8.84

-0.26 (-2.86%)

15:04
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Initiation
inTEST initiated  »

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NEPT

Neptune Technologies

$3.05

0.14 (4.81%)

15:00
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15:00
Options
New positions opened in Neptune Tech February puts and calls »

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14:55
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14:55
General news
Treasury Closing Summary: »

Treasury Closing Summary:…

PTEN

Patterson-UTI

$24.48

0.6 (2.51%)

14:54
01/22/18
01/22
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14:54
Periodicals
Patterson-UTI confirms responding to fire at Oklahoma rig, FOX23 says »

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MRNS

Marinus Pharmaceuticals

$6.83

-0.05 (-0.73%)

14:50
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Options
Notable call buying in Marinus Pharmaceuticals as shares see relative strength »

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AMZN

Amazon.com

$1,294.58

1.26 (0.10%)

, XLI

Industrial Select Sector SPDR

$79.45

-0.24 (-0.30%)

14:49
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14:49
Technical Analysis
Technical Take: S&P 500 moves to new high, levels to watch »

The S&P 500 (SPX) has…

AMZN

Amazon.com

$1,294.58

1.26 (0.10%)

XLI

Industrial Select Sector SPDR

$79.45

-0.24 (-0.30%)

XLB

S&P Select Materials SPDR

$62.93

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XLY

Consumer Discretionary Sector SPDR

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XLE

Energy Select Sector SPDR

$77.78

1.4 (1.83%)

XLK

Technology Select Sector SPDR

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SPY

SPDR S&P 500 ETF Trust

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1.181 (0.42%)

SPX

S&P 500

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CELG

Celgene

$102.65

0.93 (0.91%)

14:40
01/22/18
01/22
14:40
01/22/18
14:40
Options
Celgene calls outpace puts 3:1 as shares tick modestly higher »

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14:40
01/22/18
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General news
Treasury Action: yields have reversed the earlier declines »

Treasury Action: yields…

GENC

Gencor Industries

14:30
01/22/18
01/22
14:30
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14:30
Hot Stocks
Royce & Associates reports 7.37% passive stake in Gencor Industries »

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BPL

Buckeye Partners

$56.18

1.155 (2.10%)

14:30
01/22/18
01/22
14:30
01/22/18
14:30
Options
Bullish option flow in Buckeye Partners as shares rally »

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  • 22

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CLVS

Clovis

$56.76

0.89 (1.59%)

14:25
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01/22
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14:25
Options
Clovis call volume above normal and directionally bullish »

Bullish option flow…

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  • 25

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    Feb

$NSD

NASDAQ Market Internals

14:17
01/22/18
01/22
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Technical Analysis
NASDAQ market internals summary »

Volume is average for…

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$NYE

NYSE Market Internals

14:16
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Technical Analysis
NYSE market internals summary »

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CYBE

Cyberoptics

$17.15

0.45 (2.69%)

14:05
01/22/18
01/22
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Hot Stocks
Royce & Associates reports 9.64% passive stake in Cyberoptics »

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FTI

TechnipFMC

$34.31

0.81 (2.42%)

14:05
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Options
FMC Technologies call volume above normal and directionally bullish »

Bullish option flow…

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  • 22

    Feb

CTB

Cooper Tire

$39.65

-0.7 (-1.73%)

14:04
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14:04
Hot Stocks
Royce & Associates reports 5.14% passive stake in Cooper Tire »

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CTG

Computer Task Group

$5.09

0.12 (2.41%)

14:02
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01/22
14:02
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14:02
Hot Stocks
Breaking Hot Stocks news story on Computer Task Group »

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JUNO

Juno Therapeutics

$85.88

18.185 (26.87%)

14:01
01/22/18
01/22
14:01
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14:01
Downgrade
Juno Therapeutics rating change  »

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INGR

Ingredion

$140.05

2.92 (2.13%)

13:47
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Ingredion promotes Anthony DeLio to SVP, corporate strategy »

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  • 01

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ADSK

Autodesk

$115.29

2.74 (2.43%)

13:45
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Options
Autodesk call volume above normal and directionally bullish »

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GLOB

Globant

$47.41

-0.86 (-1.78%)

13:44
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Hot Stocks
Breaking Hot Stocks news story on Globant »

JP Morgan Chase reports…

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  • 15

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NWSA

News Corp.

$17.22

0.21 (1.23%)

, NWS

News Corp

$17.55

0.15 (0.86%)

13:39
01/22/18
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Hot Stocks
News Corp. chairman Murdoch makes case for carriage fee for trusted publishers »

News Corp. (NWSA) issued…

NWSA

News Corp.

$17.22

0.21 (1.23%)

NWS

News Corp

$17.55

0.15 (0.86%)

FB

Facebook

$181.29

1.49 (0.83%)

GOOG

Alphabet

$1,137.51

7.72 (0.68%)

GOOGL

Alphabet Class A

$1,143.50

7.53 (0.66%)

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W

Wayfair

$90.98

3.135 (3.57%)

13:35
01/22/18
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Options
Wayfair put volume heavy and directionally bearish »

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  • 22

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13:35
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General news
Treasury Action: yields rebounded towards highs »

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JNJ

Johnson & Johnson

$147.76

0.4 (0.27%)

, PG

Procter & Gamble

$91.66

0.59 (0.65%)

13:33
01/22/18
01/22
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13:33
Earnings
Notable companies reporting before tomorrow's open »

Notable companies…

JNJ

Johnson & Johnson

$147.76

0.4 (0.27%)

PG

Procter & Gamble

$91.66

0.59 (0.65%)

VZ

Verizon

$52.87

0.955 (1.84%)

KMB

Kimberly-Clark

$116.54

1.0536 (0.91%)

TRV

Travelers

$137.87

0.02 (0.01%)

FITB

Fifth Third

$32.50

0.33 (1.03%)

HBAN

Huntington Bancshares

$15.81

0.3 (1.93%)

WAT

Waters

$214.03

3.31 (1.57%)

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