New NGL Pipelines, Senior Appointments, Divestitures, Dividends, and Credit Rating Upgrades Yield Growth Opportunities - Research Report on Phillips 66, Marathon Petroleum, Tesoro, Hess, and Ultrapar
NEW YORK, June 20, 2013 /PRNewswire/ --
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Today, Wall Street Reports announced new research reports highlighting Phillips 66 (NYSE: PSX), Marathon Petroleum Corporation (NYSE: MPC), Tesoro Corporation (NYSE: TSO), Hess Corporation (NYSE: HES), and Ultrapar Holdings Inc. (NYSE: UGP). Today's readers may access these reports free of charge - including full price targets, industry analysis and analyst ratings - via the links below.
Phillips 66 Research Report
On June 17, 2013, Phillips 66 (Phillips 66), along with DCP Midstream and Spectra Energy, announced that the Sand Hills and Southern Hills natural gas liquids (NGLs) pipelines are now in service. Each of the Companies has a one-third stake in the pipeline entities. Wouter van Kempen, Chairman, President and CEO of DCP Midstream, stated, "Sand Hills and Southern Hills provide a solution to the critical need for vital transportation capacity from key liquids producing regions." Wouter continued, "DCP Midstream will have an integrated NGL pipeline system, consisting of Sand Hills and Southern Hills as well as our interests in the Front Range and Texas Express pipelines, that connect our gathering and processing systems located in most of the major liquids-rich and oil-driven shale plays to growing Gulf Coast markets. As the nation's No. 1 NGL producer, the No. 2 natural gas gatherer and processor, and the No. 3 NGL pipeline operator, DCP Midstream can offer customers superior value and services across the midstream value chain." The Full Research Report on Phillips 66 - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at: [http://www.WSReports.com/r/full_research_report/e3ef_PSX]
Marathon Petroleum Corporation Research Report
On June 3, 2013, Marathon Petroleum Corporation (Marathon Petroleum) announced that John R. Haley (J.R.) was appointed by the Company's board of directors to the newly created position of Vice President of Tax, on June 1, 2013. J.R. Haley was most recently the Director of Tax at Marathon Petroleum. Don Templin, Senior Vice President and Chief Financial Officer of Marathon Petroleum, said, "In this new position, J.R. will have responsibility for all tax matters including overall tax compliance, tax planning, and helping the company shape its views around emerging tax issues." Templin added, "J.R. has a wealth of experience, more than 30 years, managing complex federal, state and local tax matters and developing people." Mr. Haley joined the Company as a tax analyst in 1981, and became a certified public accountant in 1986. Mr. Haley is a member of the American Institute of Certified Public Accountants and the Ohio Society of Public Accountants. He also serves on the American Petroleum Institute's General Committee on Taxation. The Full Research Report on Marathon Petroleum Corporation - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at: [http://www.WSReports.com/r/full_research_report/cd31_MPC]
Tesoro Corporation Research Report
On June 17, 2013, Tesoro Corporation (Tesoro) announced that it has formally entered into an agreement with a wholly-owned subsidiary of Par Petroleum Corporation (Par Petroleum) for the divestiture of all of its interest in Tesoro Hawaii, LLC. Tesoro Hawaii operates the 94,000 barrel per day Kapolei refinery, retail stations, and associated logistical assets. "While the Hawaii operations do not align with our strategic focus, we believe they offer a great opportunity for Par Petroleum," said Greg Goff, President and CEO of Tesoro. Par Petroleum intends to operate the assets as an integrated refining, logistics, and retail system. Tesoro reported that the sales price of the Hawaii operations is approximately $75 million, plus the market value of net working capital, which is expected to be in the range of approximately $225 million to $275 million. The deal also includes an earn-out arrangement payable over three years up to $40 million based on consolidated gross margins. The Company expects the transaction to be completed by Q3 2013, subject to regulatory approval. The Full Research Report on Tesoro Corporation - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at: [http://www.WSReports.com/r/full_research_report/0fe6_TSO]
Hess Corporation Research Report
On June 5, 2013, Hess Corporation (Hess) announced that its Board of Directors has declared a regular quarterly dividend of $0.10 per common share. The dividend is payable on June 28, 2013 to shareholders of record at the close of business on June 17, 2013. The Full Research Report on Hess Corporation - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at: [http://www.WSReports.com/r/full_research_report/bdeb_HES]
Ultrapar Holdings Inc. Research Report
On May 27, 2013, Ultrapar Holdings Inc. (Ultrapar) announced that Moody's Investors Services (Moody's) has upgraded its global scale credit rating from 'Baa3' to 'Baa2.' Ultrapar reported that Moody's basis for the credit rating upgrade was the Company's solid business model, its low-risk profile, stable cash flow, and the leading position in its various segments. The Company further stated that the credit rating upgrade highlights Ultrapar's cash flow generation capacity from its businesses, sound financial management, and corporate governance. The Full Research Report on Ultrapar Holdings Inc. - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at: [http://www.WSReports.com/r/full_research_report/998a_UGP]
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SOURCE Wall Street Reports