CTX is positioning the reconfiguration of its business model in a very structured manner.
Underlying earnings of the marketing business has been overshaddowed by the poor performance of the Refining business.
I suspect that the closure of two refineries and the subsequent conversion of those into import terminals will deliver significant upside to the SP. First it will stop the losses, while second it will potentially release capital. I suspect though that one refinery will be left open and will be upgraded to keep complete flexibility.
The closure and reinvestment will be phased possibly over a 12 to 18 month time frame.
The announcement in 6 months time will set the stage so starting to accumulate will be positive.
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Last
$33.73 |
Change
0.170(0.51%) |
Mkt cap ! $8.037B |
Open | High | Low | Value | Volume |
$33.47 | $33.85 | $33.30 | $46.46M | 1.381M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 682 | $33.70 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$33.83 | 1010 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 16 | 33.550 |
1 | 500 | 33.420 |
2 | 952 | 33.380 |
2 | 670 | 33.310 |
3 | 2729 | 33.300 |
Price($) | Vol. | No. |
---|---|---|
33.830 | 1010 | 1 |
33.850 | 2051 | 3 |
33.870 | 591 | 2 |
33.900 | 357 | 2 |
33.980 | 158 | 1 |
Last trade - 16.10pm 02/08/2024 (20 minute delay) ? |
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