Q2 Results: Our Favorite Oil Stocks (John Mugarian's Dynamic Growth)

Q2 Results: Our Favorite Oil Stocks

SUNOCO (SUN): Sunoco reported Q2 operating earnings of $3.22/share, which compares to consensus estimates of $2.70/share. Share repurchases increased to $150 million this past quarter with authorization for an additional $609 million. Our Price Target is $85.

MARATHON OIL (MRO): Marathon reported operating EPS of $4.16/share, way above street consensus of $3.57. Share repurchases to approximate $1.5 billion in 2nd half of 2006. Our Price Target is $100.00.

VALERO (VLO): Valero reported operating EPS of $2.98/share, which were above consensus projections of $2.95/share. Refining profits were at record levels. Valero repurchased 9.3 million shares (2%) during the quarter, with additional repurchases likely during 2nd half of 2006. Our Price Target is $75.00.

Posted by John Mugarian on August 7, 2006 5:57 PM | Permalink

Disclaimer—This is for informational purposes only and is in no way a solicitation or an offer to sell securities. I am a registered investment advisor, but only provide solicited advice to clients of our firm in states where we are registered or where an exemption or exclusion from such registration exists. nothing on this website should be interpreted to state or imply that past results are any indication of future performance. carefully assess your own risk tolerance and goals before investing.