great report, margins still good , price still consolidating
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great report, margins still good , price still consolidating
I am surprised that the share price seems to still slowly be drifting down from its $2.70 highs (I know I was pessimistic at that price, but I hadn't expected a downward trend).
The USD exchange rate has been shifting in NZR's favour since the exceptional Nov/Dec 14 report, which is a good thing, we have just had another great 2 month processing report for mar/apr..... with all signs pointing in the right direction. Is the softening related to the rice of oil do we think?
half year profit update coming soon .. should boost up share prices
nzd down to 72 should fall to 70 when they lower interest rates and grm looks like it is still holding up this mth , should get update on maintenance finish next week ?
Chevron (Caltex) selling down their 11.4% holding tonight at $2.32-$2.36.
Have applied for a bundle.
Will be interesting to see what the market thinks tomorrow.
Thanks for that Biker ; very int esp their timing!. What brokers are handling it?
Craigs for one, not sure who else.
no announcement on this
Well some people will take a quick profit regardless of the fundamentals....it will open lower than today's close....
I have noticed someone or somebodies has been selling none stop into any buying recently so I bet it is because they knew? and will buy into the placement?
http://www.afr.com/street-talk/deuts...0150527-ghaupl
also chevron recently sold out of Caltex as well - buying opportunity?
Hmmmm....IIRC Mobil didn't support the recent capital raise for the major capex, Chevron selling out and Z talking about importing more refined product to boost margins...what are these majors telling minority shareholders most importantly by their actions and secondly by their official statements. Disc, I don't hold. The rise and rise of the mega Asian refineries causes me too much concern and looks like its too attractive to the major fuel suppliers here too. Trouble just over the horizon for this stock ?
nzr only supply a set % of market so all the oil companies need to import refined petrol as well, as nzr presentations show they are more competitive at certain prices so why would oil companies import more refined fuel if it is less competitive.
z and bp supported the upgrade , Caltex and mobil didn't and both want out of nz , z and bp are the dominant players so that tells you what they think
anyway nzr will be back in the nz50 sometime after this positive I would say
This is probably a sign that Caltex will be exiting the NZ fuel market sometime soon. Next news will be a sale of their retail outlets to Z or BP is my guess.
Sorry in advance but not having a good day for maths. With the 11% now becoming free flow shares in regards to NZ50 requirements, is that enough to get us over the line to be included in that category? If we are now to be included in the NZ50, what are the implications for fund managers etc and who will be dropping out of the top 50.
Back to fundimentals, margins still over $9 USD/bbl and exchange rate coming down nicely too. Going to be one interesting half year report!