.png)
In overvalued markets, finding bargain-priced stocks can be particularly difficult. But there are many hidden gems right now if you know where to look. Energy sector stocks, in particular, look attractive. Rising prices for crude oil over the last three months have given a boost to some of those companies’ stock prices, but despite that, these three are still trading at attractive levels. And that’s not the only reason they might appear appealing to you. Phillips 66 Phillips 66 (NYSE: PSX) had a bad fourth quarter — but that was expected. The refiner reported a loss of $539 million. Its refinery utilization rate fell to 69%, both due to a slump in demand for its end products and the company’s planned turnaround and maintenance activity. Phillips 66’s weak performance reflected the challenging situation in the refining market. Its peers reported similar losses . Companies are closing or converting high-cost refineries in response to low demand. While that sounds bleak, the outlook shouldn’t be. As COVID-19 vaccines are distributed widely and the pandemic is contained, it is expected that people will return to their old driving and travel habits, boosting the demand for gasoline and other products. Phillips 66 is […]
CamTrader offers a preview only. View original article. www.nasdaq.com
