Key Takeaways ALTO shares surged 45.4% in a year, beating the industry and major benchmarks with bullish trading signals.ALTO is shifting from ethanol to specialty alcohols and CO capture to diversify and boost margins.Despite growth plans, ALTO trades at a premium with weak returns and is expected to stay unprofitable in 2025.Shares of Alto Ingredients (ALTO) have gained 45.4% in a year, outperforming the industry, its sector as well as the Zacks S&P 500 composite. This leading producer and distributor of ...

Suncor Energy Inc. (NYSE:SU) is included among the 12 Best Crude Oil Stocks to Buy for Dividends. Suncor Energy (SU) Projects Higher Oil and Gas Production in 2026 Suncor Energy Inc. (NYSE:SU) is a Canadian integrated energy company that extracts, produces, and provides energy from a mix of sources, ranging from oil sands to renewable fuels. Suncor Energy Inc. (NYSE:SU) reported its outlook for FY 2026 on December 11, with the company projecting higher oil and gas production during the year, despite a c ...

Key Points New York City-based Alta Fundamental Advisers sold 459,937 shares of Calumet in the third quarter. The net position change from the previous period was $7.25 million. The move marked a full exit from Calumet, with Alta reporting no shares held as of September 30. These 10 stocks could mint the next wave of millionaires › New York City-based Alta Fundamental Advisers fully exited its position in Calumet (NASDAQ:CLMT) in the third quarter, reducing its holdings by 459,937 shares in a $7 ...

Core Insights - BB Energy has undergone a significant restructuring, resulting in layoffs of over a dozen employees, including oil traders, to focus on profitable areas and diversify into new markets [1][4][5] - The company aims to enhance financial resilience and operational efficiency by reorganizing its U.S. operations and shifting some administrative functions to Europe [2][5] Company Operations - The layoffs included notable traders from the crude oil desk, such as Alexander George and Dylan Laurin, who have since accepted positions at other firms [4] - Other traders, including those focused on renewable fuels and carbon markets, were also let go, indicating a broader shift in the company's trading strategy [4][5] - BB Energy reported revenues of approximately $23 billion last year and trading volumes of about 33 million tons of crude and petroleum products, highlighting its position as a leading global commodities trading house [5]

Core Insights - Suncor Energy Inc. is recognized as one of the best Canadian dividend stocks for long-term investment [1] - UBS has raised the price target for Suncor to C$65 from C$61 while maintaining a Buy rating [2] - The company reported record performance in Q3 2025, with upstream production averaging 870,000 barrels per day and returning over C$1.4 billion to shareholders [3] Financial Performance - In Q3 2025, Suncor achieved an average upstream production of 870,000 barrels per day, the highest in its history [3] - Upgrader utilization reached 102%, and refining throughput hit a record of 492,000 barrels per day [3] - The company returned more than C$1.4 billion to shareholders, including approximately C$750 million in buybacks and C$700 million in dividends [3] Market Position - Suncor's strong presence in the Western Canadian oil sands has allowed it to generate attractive returns despite market volatility [4] - The company has remained one of Canada's top producers, demonstrating growth and profitability even during sharp energy price cycles [4] - Over the past five years, Suncor's shares have increased by more than 188% [4] Business Model - Suncor operates as an integrated energy producer, utilizing various sources including oil sands, offshore projects, and renewable fuels [5]

Financial Data and Key Metrics Changes - Third quarter reported earnings were $133 million, or $0.32 per share, while adjusted earnings were $1 billion, or $2.52 per share, reflecting a $241 million pre-tax impact from accelerated depreciation and approximately $100 million in charges related to the Los Angeles Refinery [11][12] - Operating cash flow was $1.2 billion, with cash flow excluding working capital at $1.9 billion [11][12] - Net debt to capital ratio was 41%, with plans to reduce debt using operating cash flow and proceeds from asset dispositions [11][12] Business Line Data and Key Metrics Changes - Midstream results decreased mainly due to lower margins, partially offset by higher volumes [12] - Chemicals improved on higher margins and lower costs, driven by a decrease in turnaround spending, with year-to-date adjusted Chemicals EBITDA at $700 million [4][12] - Refining results increased due to stronger margins, despite environmental costs associated with the Los Angeles Refinery [12] Market Data and Key Metrics Changes - The global O&P utilization rate is expected to be in the mid-90% range, while worldwide crude utilization is anticipated to be in the low to mid-90% [14] - The company processed record NGL throughput and fractionation volumes during the quarter [5] Company Strategy and Development Direction - The company is focused on integrating its refining assets in the Mid-Continent region to enhance operational and commercial synergies [6][9] - The acquisition of the remaining 50% interest in the Wood River and Borger Refineries aims to simplify the portfolio and capture operational synergies [5][6] - The Western Gateway pipeline project is expected to ensure reliable supply to Arizona, California, and Nevada, enhancing shareholder value [7][30] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in sustaining high utilization rates due to long-term strategic decisions and reliability programs [60][62] - The company anticipates continued improvements in refining margins and operational efficiencies, targeting an adjusted controllable cost per barrel of approximately $5.50 by 2027 [10][12] Other Important Information - The company returned $751 million to shareholders, including $267 million in share repurchases [11][12] - The company is targeting a debt reduction to $17 billion by 2027, with a current debt level of $21.8 billion [50][52] Q&A Session Summary Question: Can you elaborate on the benefits of the WRB acquisition? - Management highlighted that full ownership of WRB allows for increased crude processing flexibility and organic growth opportunities, enhancing market capture [16][18] Question: What is the rationale behind the Western Gateway project? - The project aims to leverage Mid-Continent strengths to meet growing demand in California, Arizona, and Nevada, addressing the tightening refining capacity in California [30][31] Question: How sensitive is EBITDA to oil prices? - Management indicated that the midstream business has grown significantly, with organic opportunities expected to bridge the EBITDA gap, despite oil price fluctuations [38][40] Question: What are the plans for debt reduction? - The company plans to use operating cash flow and asset dispositions to achieve a debt target of $17 billion by 2027, with a clear pathway outlined [48][52] Question: How is the company addressing refining margin capture? - Management is focused on improving margin capture through operational efficiencies and strategic initiatives, with a goal of a 5% improvement [59][61]

Financial Performance - Q3 2025 - The company reported adjusted earnings of $1 billion, or $2.52 per share, based on 406 million adjusted weighted-average diluted shares[22, 23] - Operating cash flow reached $1.2 billion[22] - Shareholder distributions totaled $751 million[22] - Capital expenditures and investments amounted to $541 million[22] - Net debt-to-capital ratio stood at 41%[22] Refining Segment - Refining crude utilization reached 99%, the highest quarterly level since 2018[16] - The company achieved a record year-to-date clean product yield of 86%[15, 48] - Refining adjusted controllable costs have been reduced by approximately $1 per barrel since 2022[16] Refining Margins - Worldwide realized refining margin was $12.15 per barrel in Q3 2025[52] - Worldwide refining indicator was $13.41 per barrel, with a market capture of 91%[55] - Atlantic Basin realized margin was $11.94 per barrel, with a market capture of 97%[57] - Gulf Coast realized margin was $8.74 per barrel, with a market capture of 86%[57] - Central Corridor realized margin was $15.82 per barrel, with a market capture of 101%[57] - West Coast realized margin was $12.31 per barrel, with a market capture of 69%[57] Outlook - Q4 2025 - The company anticipates refining crude utilization in the low to mid-90% range[30] - Refining turnaround expense is projected to be between $125 million and $145 million[30] - Corporate & Other costs are expected to be between $340 million and $360 million[30]

Core Points - Houston American Energy Corp. (HUSA) has commenced construction on Phase One of its Cedar Port development plan in Baytown, Texas, which includes the Abundia Innovation Center and the R&D Facility [1][2][5] - The Abundia Innovation Center will function as a collaborative office and technology hub, while the R&D Facility will focus on advanced laboratories and pilot-scale systems for waste-to-fuels technologies [4][5] - Completion of Phase One is targeted for Q2-2026, with future phases planned to include an advanced plastics recycling facility [5] Company Overview - HUSA is an independent energy company with a diversified portfolio in both conventional and renewable sectors, having recently acquired Abundia Global Impact Group (AGIG) to enhance its capabilities in converting waste plastics into low-carbon fuels [6] - The strategic acquisition of AGIG reflects HUSA's commitment to addressing global energy demands through a mix of traditional and alternative energy solutions [6]

Core Insights - Parkland Corporation reported a strong third quarter with Adjusted EBITDA of $540 million, an increase from $431 million in Q3 2024, driven by robust operations and margins, particularly at the Burnaby Refinery [8][13] - The company is on track to meet its 2025 Adjusted EBITDA guidance of $1.8 to $2.1 billion, reflecting confidence in its diversified business model and upcoming synergies from the Sunoco acquisition [2][10] - The Sunoco transaction, valued at approximately $9.1 billion, is expected to close on October 31, 2025, with Parkland shares to be delisted from the Toronto Stock Exchange post-transaction [5][10] Financial Performance - Total sales and operating revenue for Q3 2025 was $7,353 million, up from $7,126 million in Q3 2024 [13] - Net earnings for Q3 2025 were $129 million ($0.74 per share), compared to $91 million ($0.52 per share) in Q3 2024 [8][13] - Trailing twelve months (TTM) available cash flow increased to $668 million ($3.83 per share) from $627 million ($3.58 per share) in 2024 [8][16] Segment Performance - Canada segment delivered Adjusted EBITDA of $208 million, up from $196 million in Q3 2024, attributed to stronger fuel unit margins [7][14] - International segment reported Adjusted EBITDA of $161 million, an increase from $150 million in Q3 2024, driven by strong volume growth [14] - USA segment's Adjusted EBITDA decreased to $28 million from $52 million in Q3 2024, impacted by competitive pricing and reduced arbitrage opportunities [14] Transaction Update - The Sunoco acquisition is structured as a court-approved plan of arrangement, with Parkland shareholders having the option to elect cash or SunocoCorp Units as consideration [5][11] - Approximately 94.96 million Parkland shares elected all-cash consideration, while 9.73 million shares opted for all SunocoCorp Unit consideration [15] Operational Metrics - The leverage ratio improved to 3.1 times from 3.6 times in Q4 2024, indicating enhanced financial strength [8][44] - The total recordable injury frequency rate on a TTM basis was 1.07, slightly up from 1.04 in Q3 2024, reflecting ongoing safety performance [8]

Company Overview - Aemetis (NASDAQ: AMTX) is a producer of renewable fuels, primarily focusing on ethanol production in California and India, as well as renewable gas generated from cow manure digesters in California [1] Industry Focus - The company is also in the process of constructing a sustainable aviation fuel facility in California, indicating a strategic move towards diversifying its renewable fuel offerings [1]