Company Overview - Star Group, L.P. is a leading home energy distributor and services provider specializing in the sale of home heating products and services to residential and commercial customers [3] - The company is recognized as the nation's largest retail distributor of home heating oil based on sales volume, serving customers primarily in the Northeast and Mid-Atlantic U.S. regions [3] Upcoming Financial Results - Star Group will release its fiscal 2025 third quarter results after the close of trading on August 6, 2025 [1] - A webcast and conference call will be hosted by the management team on August 7, 2025, at 11:00 a.m. Eastern Time to review the financial results for the three and nine months ended June 30, 2025 [1][2] Services Offered - The company provides a range of services including the sale and servicing of heating and air conditioning equipment, as well as delivery of diesel, gasoline, and home heating oil [3] - Star Group also offers its services to customers outside of its primary home heating oil and propane customer base [3]

Industry Overview - The Zacks Oil & Gas US Integrated industry includes companies involved in upstream and midstream energy businesses, focusing on oil and natural gas exploration and production, as well as transportation and refining activities [3] - The upstream business is closely linked to oil and gas prices, with midstream assets generating stable fee-based revenues [3] Current Trends - The pricing environment for crude oil is expected to soften significantly, with the U.S. Energy Information Administration projecting the West Texas Intermediate spot average price at $62.33 per barrel for this year, down from $76.60 the previous year, which will negatively impact upstream operations [4] - A slowdown in oil production growth is occurring due to shareholder demands for capital returns over production expansion, leading to reduced revenues as upstream operations rely heavily on volume [5] - Growing demand for renewable energy is creating uncertainty for integrated energy firms, as the shift towards solar and wind energy is expected to decrease reliance on fossil fuels [6] Industry Performance - The Zacks Oil & Gas US Integrated industry currently holds a Zacks Industry Rank of 204, placing it in the bottom 17% of over 250 Zacks industries, indicating a bearish outlook [7][8] - Over the past year, the industry has underperformed the broader Zacks Oil - Energy sector and the S&P 500, declining by 12.9% compared to a 0.3% gain for the sector and a 12.9% increase for the S&P 500 [10] Valuation Metrics - The industry is currently trading at an EV/EBITDA ratio of 4.79X, lower than the S&P 500's 17.49X but slightly higher than the sector's 4.78X [14] - Historically, the industry has traded between 3.36X and 14.40X over the past five years, with a median of 5.10X [14] Notable Companies - ConocoPhillips (COP) has a strong production outlook with lower debt exposure, positioning it well to handle adverse business conditions [17] - Occidental Petroleum (OXY) has a significant presence in key shale plays and achieved a reserve replacement rate of 230% in 2024 [20] - National Fuel Gas (NFG) is focused on developing resources in the Marcellus and Utica shale plays and has a long history of dividend payments [23] - Epsilon Energy (EPSN) is well-positioned to benefit from clean energy demand, with stable cash flows and no debt [26]

[Music] Every time you stop to refuel, you might wonder why the price at the pump fluctuates so much. Gasoline prices are influenced by several factors, with crude oil being the biggest component, making up nearly 49% of the cost. Distribution and marketing account for 19%.While refining and taxes each make up 16%. Crude oil is affected by economic conditions, geopolitics, supply and demand, and inventories. For the summer of 2025, the US Energy Information Administration predicts a 9% drop from the last ye ...

Core Viewpoint - Global Partners (GLP) is positioned as an attractive investment opportunity amid rising crude oil prices due to geopolitical tensions and supply disruptions [1][2]. Group 1: Market Context - Escalating tensions in the Middle East, particularly between Israel and Iran, have raised concerns about oil supply disruptions, as Iran is a significant oil producer [2]. - Wildfires in Canada have led to a reduction of approximately 350,000 barrels of oil production per day [2]. - OPEC has been unable to reach an agreement to increase global oil output, contributing to the current market dynamics [2]. - WTI crude prices have increased by 15% over the last month, surpassing $70 per barrel, despite a slight dip of over 1% on Monday [2]. Group 2: Company Performance - Global Partners operates a vast network of liquid energy terminals from Maine to Florida, facilitating the storage and distribution of various petroleum products [4]. - The company has achieved a total return of +23% in 2025, outperforming the broader market and its peers in the oil refining and marketing sector [5]. - GLP's total sales are projected to increase by 37% in fiscal 2025, reaching $23.55 billion, up from $17.16 billion the previous year [10]. - Annual earnings per share (EPS) are expected to rise by 18% this year and an additional 6% in FY26, reaching $3.03 per share [11]. Group 3: Dividend and Distribution - Global Partners, as a Master Limited Partnership (MLP), benefits from a tax structure that allows it to pass income directly to shareholders, making it appealing to income investors [8]. - The company currently has a payout ratio of 94%, with an annual distribution yield of 5.8% [9]. - GLP has increased its dividend 17 times in the last five years, resulting in an annual growth rate of nearly 11% during this period [9][10]. Group 4: Investment Outlook - The stock is currently rated as a Zacks Rank 1 (Strong Buy), indicating strong investor interest [12]. - The reasonable forward earnings multiple of 19.5X suggests potential for further price appreciation as crude prices rise [12].

Company Overview - Global Partners operates approximately 1,700 fueling stations[14] - The company has 54 liquid energy terminals with approximately 21.9 million barrels of storage capacity[14] - The company owns or controls 786 retail sites, approximately 48% of the 1,561 supplied locations[42] Financial Performance (Q1 2025 vs Q1 2024) - Product margin increased to $288.6 million from $244.1 million[63] - Net income improved to $18.7 million from a loss of $5.6 million[63] - EBITDA increased to $91.9 million from $56.9 million[63] - Adjusted EBITDA increased to $91.1 million from $56.0 million[63] - Distributable Cash Flow (DCF) increased to $45.7 million from $15.8 million[63] - Adjusted DCF increased to $46.4 million from $16.0 million[63] Strategic Initiatives - The company is expanding into the Houston market through a joint venture, targeting a population of approximately 7 million residents[48, 50] - The company is focused on expanding EV charging access across retail locations[30]

details on what really happened here. And I think Boeing has turned itself around. >> All right.Meantime, WTI crude hitting its highest level since January after Iran's retaliatory attacks on Israel. How much higher can prices go. Let's bring in AP chief oil analyst Denton Cinquegrana.Denton, great to have you with us. >> Thank you. Good to see you.>> You apparently believe that much of today's move or all of today's move perhaps was short covering. >> Yeah. No, this market had a lot of open interest.Rule o ...

Core Insights - Petrobras has initiated a significant maintenance shutdown at the Alberto Pasqualini Refinery (Refap) with an investment of approximately R$557 million, aimed at enhancing operational integrity and extending equipment lifespan [1][13] - The maintenance project is expected to mobilize around 2,900 workers, contributing to local employment and economic development [2][3] - The refinery plays a crucial role in Brazil's energy infrastructure, processing 32,000 cubic meters of crude oil per day and supplying essential products like diesel, gasoline, and jet fuel [8][10] Workforce Mobilization and Economic Impact - The maintenance shutdown will engage approximately 2,900 workers, significantly boosting local employment [2] - Petrobras has collaborated with local institutions to recruit qualified professionals for the operation, addressing the challenge of securing a skilled labor force [3] Maintenance Activities Scope - The maintenance initiative includes internal inspections, integrity assessments, and essential repairs to ensure the refinery's operational units remain functional [4][5] - This comprehensive maintenance work is designed to detect wear, corrosion, or structural fatigue, supporting Petrobras' goal of sustaining operations for at least six more years [5] Fuel Supply Assurance - Despite the shutdown, Petrobras has ensured a steady fuel supply by redistributing petroleum derivatives from other refineries and utilizing maintained inventories [6][7] - This logistical strategy guarantees that consumers in the service zones experience no disruption in critical product availability [7] Refap's Role in Energy Infrastructure - Refap is a key supplier in southern Brazil, providing a diverse range of products essential for transportation, manufacturing, and residential energy needs [8][10] - The refinery's logistical reach extends beyond state lines, enhancing its capability to serve a broader national market [9] Commitment to Sustainable Energy - The maintenance initiative aligns with Petrobras' vision to enhance refining infrastructure and support Brazil's energy transition towards cleaner fuels [11] - The project aims to improve reliability, efficiency, and safety margins of critical refining units, reinforcing Petrobras' market leadership [12]

Suncor Energy Inc. (SU) is set to report first-quarter 2025 earnings on May 6, after the closing bell. The Zacks Consensus Estimate for earnings is pegged at 86 cents per share and the same for revenues is pinned at $8.34 billion.Let us delve into the factors that might have influenced SU’s performance in the to-be-reported quarter. Before that, it is worth taking a look at the company’s performance in the last reported quarter.Highlights of SU’s Q4 Earnings & Surprise HistoryIn the previous reported quarte ...

Industry Overview - The Zacks Oil and Gas - Refining & Marketing industry includes companies that sell refined petroleum products and non-energy materials, and some operate terminals and transportation services [3] - The primary activity involves buying crude and processing it into various refined products, with refining margins being highly volatile and influenced by inventory levels, demand, imports, and capacity utilization [4] Current Challenges - The industry faces challenges from volatile crude prices, regulatory pressures, and rising operational costs, with seasonal Q4 refining margin weakness and global supply additions potentially impacting profitability [5][6] - Increasing operational costs from store expansions and wage pressures are significant concerns for downstream operators, necessitating careful cost management [7] Long-term Growth Potential - Despite current challenges, the industry is positioned for long-term growth due to strong global demand for refined products, with refining utilization rates remaining high [6] - Companies with integrated refining systems can leverage geographic diversification and operational efficiencies to maximize margins, while investments in refinery optimization and sustainability initiatives provide competitive advantages [6] Industry Performance - The Zacks Oil and Gas - Refining & Marketing industry has underperformed compared to the broader Zacks Oil - Energy Sector and the S&P 500, declining by 10.7% over the past year, while the sector increased by 3.3% and the S&P 500 gained 17.2% [12] - The industry's Zacks Industry Rank is 198, placing it in the bottom 20% of 246 Zacks industries, indicating a bearish outlook [8][10] Valuation Metrics - The industry is currently trading at an EV/EBITDA ratio of 3.64X, significantly lower than the S&P 500's 17.27X and slightly below the sector's 4.21X [14] - Over the past five years, the industry's EV/EBITDA has ranged from a high of 6.96X to a low of 1.80X, with a median of 3.63X [14] Key Companies - **Phillips 66**: Operates 13 refineries with a total capacity of 2.2 million barrels per day, with a market capitalization of $51 billion and a projected earnings growth of 7.8% for 2025 [15][16] - **Marathon Petroleum**: A leading independent refiner with a market capitalization of $45.6 billion, known for its strong cash flow generation and shareholder returns [17][18] - **Valero Energy**: The largest independent refiner in the U.S. with a refining capacity of 3.2 million barrels per day, has a market capitalization of $19.5 billion [19] - **Galp Energia**: A Portuguese integrated energy firm with a market capitalization of $11.4 billion, operates two refineries in Portugal and has a four-quarter average earnings surprise of 51.2% [20]

Core Viewpoint - The Zacks Oil and Gas - Refining & Marketing industry is currently facing challenges such as volatile crude prices, regulatory pressures, and rising operational costs, but it holds long-term growth potential due to strong demand for refined products and strategic investments in optimization and sustainability [1][4]. Industry Overview - The industry comprises companies that sell refined petroleum products and non-energy materials, with primary activities involving the processing of crude and other feedstocks into various refined products. Refining margins are highly volatile and influenced by factors such as inventory levels, demand, imports, and capacity utilization [2]. Trends Defining the Industry's Future - The industry is experiencing pressure on margins due to fluctuating crude prices, regulatory challenges, and seasonal weakness in refining margins. Geopolitical risks and rising operational costs are additional factors impacting profitability [3]. - Despite these challenges, the industry is well-positioned for long-term growth driven by strong global demand for refined products and operational efficiencies [4]. Cost Dynamics - Increasing operational costs from store expansions and wage pressures are affecting financial performance. Competitive pricing in non-fuel categories and slower recovery in discretionary spending further complicate the market landscape [5]. Industry Performance - The Zacks Oil and Gas - Refining & Marketing industry has underperformed compared to the broader Zacks Oil - Energy Sector and the S&P 500 over the past year, with a decline of 10.7% compared to a 3.3% increase in the sector and a 17.2% gain in the S&P 500 [10]. Current Valuation - The industry is currently trading at an EV/EBITDA ratio of 3.64X, significantly lower than the S&P 500's 17.27X and slightly below the sector's 4.21X. Over the past five years, the industry's EV/EBITDA has ranged from 1.80X to 6.96X, with a median of 3.63X [13]. Company Highlights - **Phillips 66**: A leading refiner with a refining capacity of 2.2 million barrels per day, expected to see 7.8% earnings growth in 2025 [15][16]. - **Marathon Petroleum**: An independent refiner with access to lower-cost crude, has a market capitalization of $45.6 billion and has consistently beaten earnings estimates [18][19]. - **Valero Energy**: The largest independent refiner in the U.S. with a capacity of 3.2 million barrels per day, has a strong earnings performance record [21]. - **Galp Energia**: A Portuguese integrated energy firm with a refining capacity in Portugal, has shown a 51.2% average earnings surprise over the past four quarters [22].