NEW YORK, October 12, 2016 /PRNewswire/ --
Companies in the Basic Materials sector are engaged in the exploration, development, and processing of raw materials, as well as specific resources like gold, silver, and crude oil. On September 29, 2016, research firm Charles Schwab has reiterated its "Market Perform" rating on the sector due to several factors including an increased demand for raw materials, a generally positive economic picture in the U.S., and a slightly improving European economy. Today, Stock-Callers.com takes a closer look at the most recent performances of: Calumet Specialty Products Partners L.P. (NASDAQ: CLMT), Renewable Energy Group Inc. (NASDAQ: REGI), Phillips 66 Partners L.P. (NYSE: PSXP), and Eni SpA (NYSE: E). Learn more about these stocks by downloading their free report at:
Calumet Specialty Products
Indianapolis, Indiana headquartered Calumet Specialty Products Partners L.P.'s stock finished Tuesday's session 2.68% lower at $3.99. A total volume of 523,903 shares was traded, which was above their three months average volume of 469,880 shares. The Company's shares are trading 23.67% below their 50-day moving average. Additionally, shares of Calumet Specialty Products Partners, which produces and sells specialty hydrocarbon products in North America, have a Relative Strength Index (RSI) of 26.41. The free research report on CLMT is available at:
On Tuesday, shares in Ames, Iowa headquartered Renewable Energy Group Inc. recorded a trading volume of 190,933 shares. The stock ended the session 0.66% lower at $9.02. The Company's shares have advanced 5.01% in the last one month and 2.50% in the previous three months. The stock is trading 2.23% above its 50-day moving average and 4.62% above its 200-day moving average. Moreover, shares of Renewable Energy Group, which produces and sells biofuels and renewable chemicals in the US, have an RSI of 58.33.
On October 6th, 2016, the company marked the completion of $34.5 million in upgrades and enhancements of its Danville bio-refinery with a ribbon cutting ceremony. The upgrades include the addition of biodiesel distillation and other manufacturing upgrades, which will allow the 45 million gallon nameplate capacity bio-refinery to use a wider array of lower carbon intensity feedstocks. Renewable Energy acquired the Danville bio-refinery in 2010 from Blackhawk Biofuels, LLC. It is one of the company's 11 biomass-based diesel refineries across the U.S. that has a combined nameplate production capacity of 452 million gallons annually. The complimentary report on REGI can be downloaded at:
Shares in Houston, Texas headquartered Phillips 66 Partners L.P. closed the day 0.97% lower at $46.98 with a total trading volume of 298,668 shares. The stock is trading 3.83% below its 50-day moving average. Shares of the Company, which owns, operates, develops, and acquires crude oil, refined petroleum products, and natural gas liquids pipelines and terminals, as well as other transportation and midstream assets in the US, have an RSI of 37.80.
On September 30th, 2016, research firm Mizuho initiated a 'Buy' rating on the Company's stock, issuing a target price of $55 per share.
On October 11th, 2016, Phillips 66 Partners announced that it has priced $500 million aggregate principal amount of 3.55% unsecured senior notes due 2026 and $625 million aggregate principal amount of 4.90% unsecured senior notes due 2046 in an underwritten public offering. The Partnership expects to use the net proceeds from this offering to pay the cash consideration payable by the Partnership for its previously announced acquisition of 30 crude, products, and NGL logistics assets from Phillips 66 and for general partnership purposes. The closing of the senior notes offering is expected to occur on October 14th, 2016. Visit us today and download our complete research report on PSXP for free at:
At the close, shares in Rome, Italy headquarteredEni SpA ended the day at $29.38, which was a decline of 2.62%. The stockrecorded a trading volume of 553,195 shares, which was above its three months average volume of 324,500 shares. The Company's shares have advanced 4.82% on an YTD basis. The stock is trading above its 50-day and 200-day moving averages by 0.76% and 2.59%, respectively. Furthermore, shares of Eni SpA, which engages in the oil and gas, electricity generation and sale, petrochemicals, oilfield services construction, and engineering industries, have an RSI of 52.94.
On October 4th, 2016, Eni, through Eni East Africa S.p.A., and its partners in the Area 4 Block in Mozambique, Galp, Kogas and ENH, signed a binding LNG sale agreement with BP Poseidon Ltd., a company entirely controlled by BP PLC, for the sale of the Liquefied Natural Gas produced by the Coral South Floating LNG facility, to be installed offshore Mozambique. The contract covers the sale, for a period of over 20 years, of all the volumes of LNG that will be produced from the Coral South Floating LNG facility. Get free access to your technical report on Eat:
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