By Paul Sankey
Published on April 28, 2024 at 6:23 PM
Hello, Distracted by the Knicks WIN, this afternoon. Hard fought to 3-1 in the series vs Philadelphia. A quick run around on distillate today, we skip over a rabbit hole with luxury goods stocks, and brace you for a massive week of earnings for E&P, unless like the average investor, you own “XOM, or CVX, or COP, Valero, a midstream, and one other, let’s do FANG”. “Pitching OVV to portfolio managers is hard, however rational …
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By Paul Sankey
Published on March 25, 2024 at 2:11 PM
Gas station stocks: low end consumer weakening. Gas station play Alimentation Couche Tard ($ATD) profit warning. Negative implication for refiners with gas stations, such as DINO. We are backing off our “long gas station stocks” stance but still prefer MUSA (Murphy USA), with its massive buyback and low volatility. But watch for a couple of tough quarters ahead. We like long gasoline (equity ETF is $UGA) as a trade into Memorial Day on supply tightness, …
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By Paul Sankey
Published on March 24, 2024 at 7:13 PM
Delayed last night in Boston by severe storms and a ground stop at La Guardia, eventually we were the last flight to leave Logan Terminal A, and barreled into New York like a bucking bronco, especially for those of us at the back of the shuttle. We landed screaming hot, through the driving rain to what felt like a skidding stop. Welcome back to New York. Freezing! Three weeks on the road, with a final …
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