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Fly News Breaks for March 2, 2020
Mar 2, 2020 | 05:04 EDT
Goldman Sachs analyst Neil Mehta upgraded HollyFrontier (HFC) to Neutral from Sell with a price target of $36, down from $46. Following the recent underperformance of the shares, HollyFrontier's valuation better reflects risks around demand, lubricants, and Brent-WTI, Mehta tells investors in a research note. The analyst continues to recommend investors own Marathon Petroleum (MPC), Phillips 66 (PSX), Valero (VLO) and Par Pacific (PARR) among the U.S. refiners.
News For HFC;MPC;PSX;VLO;PARR From the Last 2 Days
Apr 20, 2021 | 14:02 EDT
Phillips 66 announced it is securing feedstock for the company's portfolio of renewable fuels projects by investing in a new soybean-processing plant in Iowa. The company's investment gives it a minority ownership stake in Shell Rock Soy Processing, Phillips 66 said. The plant, which is pending state and local approvals, will yield approximately 4,000 barrels per day of soybean oil. Phillips 66 has an agreement to purchase 100% of the plant's soybean oil production that will be used to make renewable fuels. "This strategic investment expands our reach into the renewable diesel value chain and provides secure feedstock. It also reflects our commitment to play an important role in a lower-carbon energy future," said Brian Mandell, Phillips 66 Executive Vice President of Marketing and Commercial.