DINO

A month has gone by since the last earnings report for HF Sinclair (DINO). Shares have added about 7.2% in that time frame, outperforming the S&P 500. Will the recent positive trend continue leading up to its next earnings release, or is HF Sinclair due for a pullback? Well, first let's take a quick look at its most recent earnings report in order to get a better handle on the recent drivers for HF Sinclair Corporation before we dive into how investors and analysts have reacted as of late. HF Sinclair Corporation reported second-quarter 2026 adjusted earnings of $5.31 per share, up 212.4% year over year. The figure surpassed the Zacks Consensus Estimate of $4.39 by 21.0%. Sales and other revenues increased 53.2% to $10.39 billion from $6.78 billion recorded a year ago. The top line beat the consensus estimate of $7.50 billion by 38.5%. The strong quarterly results were driven by higher refining margins, increased refinery throughput and improved refinery utilization. The higher crude oil charge, which rose 3.9% year over year to 639,680 barrels per day (Bbl/d), further supported the strong performance. Refining segment revenues, including intersegment sales, increased to $9.23 billion from $6.02 billion a year earlier. Segment income before interest and taxes surged to $877 million from $166 million, while adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) increased to $1.02 billion from $476 million. The increase reflected strong margins and volumes across the Mid-Continent and West regions, supported by steady demand, tight supply and favorable crack spreads. Adjusted refinery gross margin increased 57.3% to $25.95 per produced barrel sold. Refinery utilization improved to 94.3% from 90.8%, while sales of produced refined products rose to 668,670 Bbl/d from 649,210 recorded in the prior year. Renewables segment revenues nearly doubled to $486 million from $258 million in the prior-year quarter. The business generated income before interest and taxes of $30 million against a loss of $4 million a year ago. Adjusted EBITDA reached $123 million, reversing a loss of $2 million a year earlier. Results benefited from increased renewable identification number (RIN) prices, improved Producer’s Tax Credit benefits and higher volumes. Sales of produced renewables products rose to 59.9 million gallons from 54.8 million gallons, while adjusted gross margin increased to $2.46 per gallon from 36 cents per gallon. Lubricants and Specialties segment revenues increased to $999 million from $645 million. Income before interest and taxes increased to $181 million from $33 million, and adjusted EBITDA rose to $207 million from $55 million. The improvement was driven by higher sales volumes and product prices. Sales of produced refined products increased 24.7% to 39,847 barrels per day. The segment also recorded a $46 million first-in, first-out inventory benefit compared with a $20 million charge in the year-ago period. Marketing segment revenues increased to $1.37 billion from $826 million. Income before interest and taxes rose to $20 million from $18 million, while EBITDA improved to $28 million from $25 million. Branded fuel sales volumes rose 14.7% to 386.7 million gallons. The number of branded sites reached 1,832 at quarter-end, up from the 1,719 recorded in the year-ago quarter. Adjusted marketing gross margin remained steady at 10 cents per gallon despite the volume expansion. HF Sinclair’s Midstream segment generated revenues of $167 million in the second quarter of 2026, up from the $157 million a year earlier. External customer revenues rose to $32 million from $28 million, while intersegment revenues increased to $135 million from $129 million. Segment income before interest and income taxes was $95 million, down from the $98 million in the prior-year quarter. Adjusted EBITDA remained unchanged at $112 million. Total pipeline and terminal asset volumes increased 6.1% year over year to 2.02 million barrels per day (MMB/d) from 1.91 MMB/d, supported by higher affiliate crude pipeline and terminal volumes. HF Sinclair’s total operating costs and expenses increased 42% year over year to $9.22 billion in the second quarter of 2026 from $6.51 billion. The increase mainly reflected higher cost of materials and other expenses, which rose 50% to $8.13 billion as revenues and operating activity expanded. Operating expenses increased 14% to $654 million, while selling, general and administrative expenses rose 14% to $130 million. Depreciation and amortization edged up 1% to $228 million. Other operating expenses climbed to $47 million from $9 million, primarily reflecting an impairment charge in the Renewables segment. Lower-of-cost-or-market inventory valuation adjustments declined to $30 million from $148 million in the year-ago quarter. Despite the higher overall expense base, sales growth outpaced cost growth, helping consolidated income from operations rise to $1.17 billion from $275 million. Net cash provided by operating activities totaled $1.51 billion in the quarter. Cash and cash equivalents were $2.26 billion as of June 30, 2026 while consolidated debt was $2.77 billion. DINO returned $265 million to stockholders through dividends and share repurchases. The company paid $89 million in dividends and spent $179 million on buybacks, including excise tax. Its board raised the regular quarterly dividend 5% to 52.5 cents per share. HF Sinclair plans to separate its Lubricants and Specialties segment into an independent publicly traded company. The transaction is targeted for completion in the second half of 2027, subject to final board approval, regulatory clearances, financing and other customary conditions. HF Sinclair intends to retire its Mississauga base oil refining assets, with the transition expected to be substantially completed during 2027. The remaining company will focus on refining, midstream, marketing and renewables, while the new lubricants business will pursue a capital-light model centered on specialty products, brands and customer relationships. HF Sinclair expects the favorable fundamentals that supported its strong second-quarter performance to persist into the third quarter of 2026. Management pointed to steady demand, tight refined-product supply and favorable crack spreads as supportive factors for refining operations. It turns out, fresh estimates have trended upward during the past month. The consensus estimate has shifted 19.67% due to these changes. At this time, HF Sinclair has a great Growth Score of A, though it is lagging a lot on the Momentum Score front with an F. However, the stock has a grade of A on the value side, putting it in the top quintile for this investment strategy. Overall, the stock has an aggregate VGM Score of A. If you aren't focused on one strategy, this score is the one you should be interested in. Estimates have been trending upward for the stock, and the magnitude of these revisions looks promising. It comes with little surprise HF Sinclair has a Zacks Rank #1 (Strong Buy). We expect an above average return from the stock in the next few months. HF Sinclair belongs to the Zacks Oil and Gas - Refining and Marketing industry. Another stock from the same industry, Equinor (EQNR), has gained 0.9% over the past month. More than a month has passed since the company reported results for the quarter ended June 2026. Equinor reported revenues of $35.18 billion in the last reported quarter, representing a year-over-year change of +39.9%. EPS of $1.33 for the same period compares with $0.64 a year ago. For the current quarter, Equinor is expected to post earnings of $1.46 per share, indicating a change of +294.6% from the year-ago quarter. The Zacks Consensus Estimate remained unchanged over the last 30 days. Equinor has a Zacks Rank #3 (Hold) based on the overall direction and magnitude of estimate revisions. Additionally, the stock has a VGM Score of A. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report HF Sinclair Corporation (DINO) : Free Stock Analysis Report Equinor ASA (EQNR) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Kinder Morgan recently reported second-quarter 2026 adjusted earnings of US$0.37 per share, beating estimates and improving its net debt-to-adjusted EBITDA ratio to 3.6X, while also agreeing with Phillips 66 and HF Sinclair to proceed with the proposed US$5.00 billion Western Gateway refined products pipeline joint venture targeted for completion in 2029. Together, the stronger results across its gas infrastructure and the long-distance Western Gateway project reinforce Kinder Morgan’s role as a key link in U.S. fuel and LNG supply chains. We’ll now examine how Kinder Morgan’s earnings beat and Western Gateway pipeline commitment may influence its existing investment narrative and expectations. We've uncovered the 10 dividend fortresses yielding 5%+ that don't just survive market storms, but thrive in them. To own Kinder Morgan, you need to believe in the durability of U.S. natural gas and refined products infrastructure and the company’s ability to translate that position into dependable cash flows despite relatively high leverage. The latest earnings beat and modest improvement in net debt to adjusted EBITDA are positives, but they do not fundamentally change the near term focus on balance sheet strength as a key risk and LNG driven throughput as a central catalyst. The decision to move ahead with the US$5.00 billion Western Gateway refined products pipeline joint venture stands out here, because it ties directly into Kinder Morgan’s role in U.S. fuel logistics while adding a large, long dated project to its growth backlog. For investors, that announcement sits alongside rising LNG related volumes as a reminder that Kinder Morgan’s investment case rests on long term fee based contracts across gas and refined products, rather than short term commodity moves. However, against these positives, Kinder Morgan’s still meaningful leverage and the capital needs of an aging, expanding network are risks investors should be aware of... Read the full narrative on Kinder Morgan (it's free!) Kinder Morgan's narrative projects $20.2 billion revenue and $3.7 billion earnings by 2029. This requires 4.8% yearly revenue growth and about a $0.4 billion earnings increase from $3.3 billion today. Uncover how Kinder Morgan's forecasts yield a $35.33 fair value, a 8% upside to its current price. Three fair value estimates from the Simply Wall St Community span roughly US$35 to US$55 per share, showing how differently individual investors can view Kinder Morgan’s potential. You can weigh those views against Kinder Morgan’s reliance on stable, fee based contracts to support earnings in a sector where long term fossil fuel demand and policy trends remain uncertain, and explore several alternative viewpoints before deciding how this fits your portfolio. Explore 3 other fair value estimates on Kinder Morgan - why the stock might be worth as much as 68% more than the current price! Don't just follow the ticker - dig into the data and build a conviction that's truly your own. A great starting point for your Kinder Morgan research is our analysis highlighting 3 key rewards and 2 important warning signs that could impact your investment decision. Our free Kinder Morgan research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate Kinder Morgan's overall financial health at a glance. These stocks are moving-our analysis flagged them today. Act fast before the price catches up: The latest GPUs need a type of rare earth metal called Terbium and there are only 28 companies in the world exploring or producing it. Find the list for free. Find 50 companies with promising cash flow potential yet trading below their fair value. AI is about to change healthcare. These 44 stocks are working on everything from early diagnostics to drug discovery. The best part - they are all under $10b in market cap - there's still time to get in early. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include KMI. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email [email protected]

Track your investments for FREE with Simply Wall St, the portfolio command center trusted by over 7 million individual investors worldwide. Kinder Morgan (KMI) is back in focus after joining Phillips 66 and HF Sinclair in the proposed US$5b Western Gateway Pipeline joint venture, and after reporting second quarter 2026 earnings that exceeded market expectations. See our latest analysis for Kinder Morgan. Kinder Morgan’s share price has climbed 18.44% year to date to US$32.82, with a 7 day share price return of 6.39% after the Western Gateway Pipeline announcement and earnings beat. The 5 year total shareholder return of 169.73% points to stronger momentum over a longer horizon. If this kind of infrastructure story has your attention, it could be a good moment to broaden your search and check out 38 power grid technology and infrastructure stocks The Western Gateway deal and earnings beat have pushed Kinder Morgan sharply higher in a short span. After this run, does the current price still offer an attractive balance of upside and risk for new money? The most followed Kinder Morgan narrative currently points to a fair value of $35.33 compared with the latest close at $32.82, and uses a 7.11% discount rate to weigh those future cash flows. Read the complete narrative. Want to see what underpins that LNG optimism and fair value gap? The narrative leans heavily on future revenue, margin resilience, and a richer earnings multiple than the sector. Result: Fair Value of $35.33 (UNDERVALUED) Have a read of the narrative in full and understand what's behind the forecasts. However, Kinder Morgan’s high net debt near US$32.3b and the risk of overbuilt regions like the Permian affecting contract renewals could challenge this upbeat narrative. Find out about the key risks to this Kinder Morgan narrative. With Kinder Morgan attracting both optimism and caution, it makes sense to look at the underlying data yourself and not rely on any single story. To weigh these cross currents properly, start by reviewing the 3 key rewards and 2 important warning signs. If Kinder Morgan has sharpened your focus, do not stop here. Use the Simply Wall Street Screener to surface other opportunities that could suit your portfolio. Spot potential bargains early by checking stocks that appear mispriced compared to their quality with the help of 50 high quality undervalued stocks. Strengthen your income stream by reviewing companies that show up in the 10 dividend fortresses and assess whether their payouts fit your goals. Prioritise resilience by scanning companies that appear in the 83 resilient stocks with low risk scores and see which ones align with your comfort level. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include KMI. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email [email protected]

Never miss an important update on your stock portfolio and cut through the noise. Over 7 million investors trust Simply Wall St to stay informed where it matters for FREE. HF Sinclair (DINO) is back in focus after director Franklin Myers purchased US$1.28 million of the stock, a move that arrives alongside fresh long term supply and distribution agreements in its Lubricants & Specialties business. See our latest analysis for HF Sinclair. HF Sinclair’s recent commercial agreements and the insider purchase come at a time when momentum is strong, with a 31.22% 3 month share price return and a very large 5 year total shareholder return of 286.16%. If this kind of move has your attention, it can be useful to see which other energy related stocks are gaining traction in critical infrastructure. One place to start is the 35 power grid technology and infrastructure stocks HF Sinclair’s insider buying and new supply deals have arrived after a strong share price run, so the decision now is whether to lean into this momentum or wait for a pullback. The valuation picture helps frame that choice next. On a simple earnings lens, HF Sinclair screens as inexpensive. The stock closed at $91.87, yet it trades on a P/E of 8.6x while still carrying a value score of 5 out of 6. The P/E multiple compares HF Sinclair’s share price to its earnings per share. For energy companies with established operations, it is a quick way to see how much investors are currently paying for each dollar of profit. A lower P/E can signal that the market is pricing in weaker future earnings, or that it has not fully reflected the company’s profitability. Here, the company is considered good value on several fronts. The current P/E of 8.6x sits well below the estimated fair P/E of 10.1x that the SWS fair ratio model points to. That level is also materially lower than both the US Oil and Gas industry average of 12.7x and a peer average of 19.9x. If the market view were to move closer to that fair ratio over time, it would represent a meaningful re-rating of the multiple rather than a change in the underlying business. Explore the SWS fair ratio for HF Sinclair Result: Price-to-earnings of 8.6x (UNDERVALUED) However, you also need to weigh risks such as HF Sinclair’s declining annual revenue and net income growth, as well as the possibility of weaker refining margins pressuring earnings. Find out about the key risks to this HF Sinclair narrative. The P/E suggests HF Sinclair looks inexpensive, while the SWS DCF model provides an even more striking perspective. At a share price of $91.87 and an estimated future cash flow value of $211.09, the stock appears significantly undervalued according to this second measure. It is up to you to decide which signal should carry more weight in your analysis. Look into how the SWS DCF model arrives at its fair value. Simply Wall St performs a discounted cash flow (DCF) on every stock in the world every day (check out HF Sinclair for example). We show the entire calculation in full. You can track the result in your watchlist or portfolio and be alerted when this changes, or use our stock screener to discover 51 high quality undervalued stocks. If you save a screener we even alert you when new companies match - so you never miss a potential opportunity. Given the mix of optimism and caution around HF Sinclair, it makes sense to move quickly and test the story against your own expectations. To weigh the upside potential against the key concerns, start by reviewing the 3 key rewards and 2 important warning signs. If HF Sinclair has sharpened your focus on opportunities, do not stop here. Use targeted stock lists to pressure test your thesis and identify areas others might overlook. Target potential mispricing by reviewing companies that screen as 51 high quality undervalued stocks and see which ones deserve a closer look before attention crowds in. Secure your income stream by checking stocks in the 11 dividend fortresses that aim to pair higher yields with more robust fundamentals. Protect your downside by scanning companies in the 88 resilient stocks with low risk scores so you are not caught off guard when conditions change. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include DINO. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email [email protected]

YPF Sociedad Anónima YPF reported second-quarter 2026 earnings of $3.07 per share, beating the Zacks Consensus Estimate of $2.84 per share by 8.1%. The bottom line increased from 13 cents per share reported a year earlier. Revenues of $6.57 billion topped the consensus estimate of $6.05 billion by 8.2%. The top line increased 41.7% from $4.64 billion a year ago. The strong quarterly results were driven by higher oil pricing, shale growth and record refinery throughput. Shale oil production increased 46.6% to 212.7 thousand barrels per day (MBbl/d), while adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) reached a record $2.80 billion. YPF Sociedad Anonima price-consensus-eps-surprise-chart | YPF Sociedad Anonima Quote Total hydrocarbon production averaged 544.4 thousand barrels of oil equivalent per day, nearly flat year over year. Crude oil production increased 7.1% to 265.5 MBbl/d despite a continued decline in conventional production. Shale oil remained the key growth engine, accounting for 80% of total crude production. Natural gas production declined 6.2% to 37.3 million cubic meters per day (Mm3/d) from 39.7 Mm3/d a year earlier, while natural gas liquids output decreased 7.1% to 44.6 MBbl/d from 48 MBbl/d in the prior-year quarter. The average crude oil realization increased 53.2% to $91.10 per barrel from $59.50 per barrel recorded in the year-ago quarter. The natural gas realization improved 3.1% to $4.20 per million British thermal units (MMBtu) from $4.10 per MMBtu in the second quarter of 2025. Upstream revenues increased 44.6% to $2.74 billion from $1.89 billion in the year-ago quarter. Adjusted EBITDA for the business more than doubled to $1.72 billion. Midstream and downstream revenues improved 51.4% to $5.68 billion. Refined-product sales volumes to third parties increased 12.5% to 5,193 thousand cubic meters (Km3) from 4,614 Km3 in the prior-year quarter. Crude processing reached a record 350.8 MBbl/d, up 16.4%, while refinery utilization increased to 103.8% from 89.2%. Adjusted EBITDA excluding inventory price effects rose 106.8% to $967 million, with refining and marketing adjusted EBITDA reaching $23.20 per barrel. Total operating expenses were $1.47 billion, down 4% from $1.53 billion a year earlier. Lifting costs decreased 31.4% to $8.40 per barrel of oil equivalent. Operating income surged to $1.81 billion from $412 million a year earlier. Adjusted EBITDA increased 149.5% to $2.80 billion, while the adjusted EBITDA margin improved to 43%, its strongest level in the past two decades. Free cash flow totaled $824 million despite capital expenditures of $1.34 billion, which increased 16%. The company allocated 77% of quarterly investments to unconventional operations, reflecting its continued focus on shale development. As of June 30, 2026, cash and short-term investments were $2.47 billion. Net debt totaled $7.65 billion, while the net leverage ratio was 1.09X. YPF raised its 2026 adjusted EBITDA guidance to around $8 billion from approximately $6 billion, based partly on an assumed Brent price of $75 per barrel for the second half. The company raised its full-year capital expenditure guidance in the range of $5.8-$6.2 billion, with roughly 70% directed toward shale operations. Management expects average shale oil production to be around 215 MBbl/d in 2026 and an exit rate of approximately 250 MBbl/d. YPF projects free cash flow to be around $2 billion and expects year-end net leverage to approach 1X. YPF currently carries a Zacks Rank #3 (Hold). Some better-ranked stocks from the energy sector are PBF Energy Inc. PBF, HF Sinclair Corporation DINO and Cactus, Inc. WHD. PBF and DINO sport a Zacks Rank #1 (Strong Buy) each, while WHD carries a Zacks Rank #2 (Buy), at present. You can see the complete list of today’s Zacks #1 Rank stocks here. PBF reported second-quarter 2026 adjusted earnings of $6.22 per share, surpassing the Zacks Consensus Estimate of $4.05 per share. As of June 30, 2026, PBF had total debt of $1.75 billion, and cash and cash equivalents of $894.1 million. HF Sinclair reported second-quarter 2026 adjusted earnings of $5.31 per share, topping the Zacks Consensus Estimate of $4.39 per share. As of June 30, 2026, DINO had total debt of $2.77 billion, and cash and cash equivalents of $2.26 billion. Cactus reported second-quarter 2026 adjusted earnings of 93 cents per share, surpassing the Zacks Consensus Estimate of 71 cents per share. As of June 30, 2026, WHD had cash and cash equivalents of $365 million. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report YPF Sociedad Anonima (YPF) : Free Stock Analysis Report PBF Energy Inc. (PBF) : Free Stock Analysis Report Cactus, Inc. (WHD) : Free Stock Analysis Report HF Sinclair Corporation (DINO) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Cheniere Energy Partners, L.P. CQP reported second-quarter 2026 earnings per unit of $1.10, beating the Zacks Consensus Estimate of 95 cents by 15.79%. The bottom line increased from 91 cents reported a year earlier. Following the earnings announcement on Aug. 6, 2026, CQP units are up 5% to $66.58 per unit from $63.33 per unit. Revenues of $2.6 billion increased 5.2% from $2.5 billion a year ago. The top line missed the consensus mark of $2.7 billion by 3.70%. The strong quarterly earnings benefited from higher total margins per million British thermal units (MMBtu) of liquefied natural gas (LNG) delivered, primarily due to increased volumes recognized in income. CQP exported 108 LNG cargoes, up from 98 a year earlier, while exported volumes increased 12.5% to 396 trillion British thermal units (TBtu). Cheniere Energy Partners, L.P. price-consensus-eps-surprise-chart | Cheniere Energy Partners, L.P. Quote LNG revenues increased 2.4% to $1.90 billion from $1.86 billion. LNG revenues from affiliates rose 14.9% to $631 million from $549 million. Regasification revenues were unchanged at $34 million, while other revenues edged up to $16 million from $15 million. The partnership loaded and recognized 396 TBtu of LNG during the quarter compared with 351 TBtu in the prior-year period, representing growth of 12.8%. The higher throughput allowed CQP to handle more volume and capture better LNG profit margins. Net income increased to $1.16 billion from $553 million in the year-ago quarter. The increase primarily reflected higher LNG margins and approximately $367 million of favorable variances from changes in the fair value of derivative instruments, including long-term Integrated Production Marketing agreements. Reported basic and net income per common unit rose to $2.14 from 91 cents. Changes in commodity derivative values can create sizable non-cash swings in reported earnings, making operating measures useful for assessing the underlying performance of the LNG business. Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) increased 35.4% to $983 million from $726 million. Management attributed the increase primarily to higher total margins per MMBtu of LNG delivered, driven by greater volumes recognized in income. Total operating costs and expenses declined to $1.24 billion from $1.74 billion. Cost of sales fell to $765 million from $1.20 billion, while operating and maintenance expense decreased to $230 million from $289 million. Income from operations consequently increased to $1.34 billion from $715 million. CQP ended June with $443 million in cash and cash equivalents and $23 million in restricted cash. Available commitments under its credit facilities totaled $1.87 billion, giving the partnership total available liquidity of $2.34 billion. For the six months ended June 30, 2026, net cash provided by operating activities increased to $1.61 billion from $1.22 billion a year earlier. Investing activities used $299 million, including $297 million for property, plant and equipment, while financing activities used $1.05 billion. The partnership declared a second-quarter cash distribution of 82 cents per common unit, comprising a 77.5-cent base amount and a 4.5-cent variable component. Cheniere reconfirmed its 2026 distribution guidance in the range of $3.10-$3.40 per common unit, including a base distribution of $3.10. CQP is advancing the Sabine Pass LNG Expansion Project. In May, Sabine Pass Liquefaction Stage V entered into an engineering, procurement and construction contract with Bechtel for the first phase and authorized early engineering and procurement. The initial phase includes Train 7 and a boil-off gas re-liquefaction unit, with an expected production capacity of more than 6 million tons per annum, including estimated debottlenecking opportunities. Cheniere currently carries a Zacks Rank #3 (Hold). Some better-ranked stocks from the energy sector are PBF Energy Inc. PBF, HF Sinclair Corporation DINO and Cactus, Inc. WHD. PBF and DINO sport a Zacks Rank #1 (Strong Buy) each, while WHD carries a Zacks Rank #2 (Buy), at present. You can see the complete list of today’s Zacks Rank #1 stocks here. PBF reported second-quarter 2026 adjusted earnings of $6.22 per share, surpassing the Zacks Consensus Estimate of $4.05 per share. As of June 30, 2026, PBF had total debt of $1.75 billion, and cash and cash equivalents of $894.1 million. HF Sinclair reported second-quarter 2026 adjusted earnings of $5.31 per share, topping the Zacks Consensus Estimate of $4.39 per share. As of June 30, 2026, DINO had total debt of $2.77 billion, and cash and cash equivalents of $2.26 billion. Cactus reported second-quarter 2026 adjusted earnings of 93 cents per share, surpassing the Zacks Consensus Estimate of 71 cents per share. As of June 30, 2026, WHD had cash and cash equivalents of $365 million. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Cheniere Energy Partners, L.P. (CQP) : Free Stock Analysis Report PBF Energy Inc. (PBF) : Free Stock Analysis Report Cactus, Inc. (WHD) : Free Stock Analysis Report HF Sinclair Corporation (DINO) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

HF Sinclair Corporation DINO enters the second half of 2026 with sharply stronger earnings, rising estimates and healthy cash generation. The question is whether that operating momentum is enough to offset a valuation that has moved closer to the top of its recent historical range. The current setup is favorable, but not without trade-offs. Refining conditions remain constructive, non-refining businesses are contributing more, and capital returns are solid. Still, cyclical exposure, planned maintenance and less valuation cushion deserve attention. The Zacks Consensus Estimate for 2026 earnings stands at $11.85 per share. The current fiscal-year estimate has increased 19.8% over the past four weeks, reflecting a meaningful upward shift in expectations. Second-quarter adjusted earnings came in at $5.31 per share, topping the consensus mark of $4.39 by 21%. Refining adjusted EBITDA reached $1.02 billion as adjusted refinery gross margin rose to $25.95 per produced barrel sold from $16.50 a year earlier. Renewables adjusted EBITDA reached $123 million in the second quarter, reversing a $2 million loss a year earlier. Higher renewable identification number prices, Producer’s Tax Credit benefits and increased volumes supported the improvement. Lubricants & Specialties added $207 million of adjusted EBITDA, up from $55 million. HF Sinclair also generated $1.51 billion of operating cash flow and ended June with $2.26 billion in cash, giving it flexibility for reinvestment, buybacks and dividends. DINO trades at 0.49X forward 12-month sales per share. That is above its five-year median of 0.32X and close to the five-year high of 0.55X, leaving less valuation cushion than investors had at lower points in the cycle. Image Source: Zacks Investment Research The supportive refining environment is not unique to DINO. Valero Energy Corporation VLO reported second-quarter 2026 refining operating income of $4.5 billion, reinforcing the strength of industry margins. Marathon Petroleum Corporation MPC reported $8.5 billion of adjusted EBITDA in the quarter, also reflecting a favorable downstream backdrop. Refining remains the largest earnings driver, so a recovery in global product supply or weaker transportation demand could pressure margins. Management also identified Chinese product exports as a potential swing factor for global refining balances. Near-term execution matters as well. HF Sinclair expects third-quarter refinery crude throughput of 590,000 to 620,000 barrels per day because of the El Dorado turnaround, while the Cheyenne renewable diesel facility also has planned maintenance. Renewable Fuel Standard obligations remain another source of earnings variability. The earnings outlook remains favorable for HF Sinclair in the near term. The Zacks Consensus Estimate calls for earnings of $5.13 per share for the third quarter of 2026, implying growth of 110.3%. The fourth-quarter consensus estimate of $2.28 per share represents a 90% increase from the year-ago period. For full-year 2026, the consensus estimate of $11.85 per share indicates 134.2% growth from $5.06 in 2025, reinforcing the sharp earnings recovery. However, the 2027 estimate stands at $8.77 per share, implying a 26% decline. That projected moderation underscores the cyclical risk in DINO’s earnings and adds context to whether the stock’s richer valuation is justified by its near-term operating strength. Image Source: Zacks Investment Research DINO currently carries a Zacks Rank #1 (Strong Buy), which reflects favorable earnings estimate revision trends. You can see the complete list of today’s Zacks Rank #1 stocks here. Combined with the improving earnings outlook, that rating supports a constructive near-term view, although the richer sales multiple argues against treating valuation as an obvious bargain. The stock has a Value Score of A, Growth Score of A and VGM Score of A, a favorable combination alongside a top Zacks Rank. Its Momentum Score of C is less supportive, suggesting the strongest signals are coming from value, growth and estimate trends rather than momentum alone. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report HF Sinclair Corporation (DINO) : Free Stock Analysis Report Valero Energy Corporation (VLO) : Free Stock Analysis Report Marathon Petroleum Corporation (MPC) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Venture Global, Inc. VG reported second-quarter 2026 earnings of 51 cents per share, beating the Zacks Consensus Estimate of 49 cents by 4.08%. The bottom line skyrocketed 264.3% from 14 cents in the year-ago quarter. Quarterly revenues rose 47.6% year over year to $4.58 billion and topped the Zacks Consensus Estimate of $4.50 billion by 1.64%. Higher LNG sales volumes, led by Plaquemines commissioning, and stronger LNG sales prices net of feed gas costs drove the results. Venture Global exported 127 cargoes during the quarter. A Venture Global, Inc. price-consensus-eps-surprise-chart | Venture Global, Inc. Quote LNG volumes sold increased 41.7% year over year to 466.4 trillion British thermal units, or TBtu, from 329.2 TBtu. Exported LNG volumes rose 44.6% to 478.3 TBtu from 330.8 TBtu. Plaquemines accounted for 90 cargoes, while Calcasieu Pass contributed 37. The company also exported its 1,000th cargo across its projects, reaching the milestone about four years after its first export. Income from operations climbed 110.8% year over year to $2.19 billion from $1.04 billion. Consolidated adjusted EBITDA increased 78.8% to $2.49 billion from $1.39 billion, with the EBITDA margin reaching 54%. Net income attributable to common stockholders was $1.35 billion compared with $368 million a year earlier. Higher sales volumes and better LNG sales prices net of feed gas costs were the primary contributors to the EBITDA increase. Cost of sales increased to $1.66 billion from $1.42 billion as LNG volumes rose. Operating and maintenance expenses advanced to $335 million from $217 million, reflecting increased commissioning work at Plaquemines and a larger fleet of Venture Global-owned ships in operation. General and administrative expenses were $112 million compared with $103 million a year ago. Development expenses fell to $23 million from $57 million, while depreciation and amortization declined to $260 million from $267 million. Total operating expenses were $2.39 billion versus $2.06 billion. Plaquemines remains in the final stages of construction, commissioning and assurance testing ahead of Phase 1 commercial operations. Venture Global continues to target Phase 1 commercial operations in the fourth quarter of 2026 and Phase 2 in mid-2027. CP2 remains on schedule for first LNG in the second half of 2027. The project had 16 liquefaction modules on site, roofs raised on all four LNG storage tanks, and five gas and steam turbines on foundations. Engineering was 100% complete and procurement stood at 79%. Venture Globalraised its 2026 consolidated adjusted EBITDA guidance to $8.70-$9.10 billion from $8.20-$8.50 billion. The updated range assumes a fixed liquefaction fee of $12.50-$13.50 per million British thermal units (MMBtu) for remaining unsold cargoes. A $1 per MMBtu change in the fee is expected to move full-year adjusted EBITDA by $180-$210 million. The company expects 500-518 cargoes in 2026, including 149-154 from Calcasieu Pass and 351-364 from Plaquemines. As of Aug. 11, 91% of expected 2026 cargoes were contracted at a weighted-average liquefaction fee of $5.05 per MMBtu, while 75% of expected 2027 cargoes were contracted. Cash and restricted cash totaled $4.60 billion as of June 30, 2026, while total assets reached $61.52 billion. The company also had a $2-billion corporate revolving credit facility that remained undrawn and fully available. Venture Global refinanced $5.30 billion of capital since the start of the second quarter, generating more than $100 million of expected annual interest and coupon savings. The board raised the quarterly dividend 122% to 4 cents per share, payable Sept. 30, to shareholders of record as of Sept. 15. Venture Global currently carries a Zacks Rank #3 (Hold). Some better-ranked stocks from the energy sector are PBF Energy Inc. PBF, HF Sinclair Corporation DINO and Cactus, Inc. WHD. PBF and DINO sport a Zacks Rank #1 (Strong Buy) at present, and WHD carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks Rank #1 stocks here. PBF reported second-quarter 2026 adjusted earnings of $6.22 per share, surpassing the Zacks Consensus Estimate of $4.05. As of June 30, 2026, PBF had total debt of $1.75 billion, and cash and cash equivalents of $894.1 million. HF Sinclair reported second-quarter 2026 adjusted earnings of $5.31 per share, topping the Zacks Consensus Estimate of $4.39. As of June 30, 2026, DINO had total debt of $2.77 billion, and cash and cash equivalents of $2.26 billion. Cactus reported second-quarter 2026 adjusted earnings of 93 cents per share, surpassing the Zacks Consensus Estimate of 71 cents. As of June 30, 2026, WHD had cash and cash equivalents of $365 million. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Venture Global, Inc. (VG) : Free Stock Analysis Report PBF Energy Inc. (PBF) : Free Stock Analysis Report Cactus, Inc. (WHD) : Free Stock Analysis Report HF Sinclair Corporation (DINO) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

ConocoPhillips COP reported adjusted earnings of $3.24 per share for the second quarter of 2026, up 128.2% from $1.42 a year earlier. The bottom line beat the Zacks Consensus Estimate of $2.96 per share by 9.5%. Total revenues of $19.52 billion increased 32.4% from $14.74 billion a year ago. The top line surpassed the consensus mark of $17.54 billion by 11.29%. The strong quarterly results were driven by higher commodity prices. Total production was 2,248 thousand barrels of oil equivalent per day (MBOED), down 6% from the year-ago quarter. ConocoPhillips price-consensus-eps-surprise-chart | ConocoPhillips Quote Sales and other operating revenues were $19.16 billion, up from $14 billion in the second quarter of 2025. Equity in earnings of affiliates was $239 million, while other income totaled $108 million. ConocoPhillips’ average realized price was $62.33 per barrel of oil equivalent, 36% above the year-ago level of $45.77 per barrel of oil equivalent. The sharp pricing improvement more than offset lower production and provided the primary lift to quarterly earnings. The company reported net income of $3.93 billion, or $3.23 per share, compared with $1.97 billion, or $1.56 per share, a year earlier. Excluding special items, adjusted earnings totaled $3.95 billion, up from $1.79 billion. Second-quarter special items reduced earnings by $20 million after tax. This included transaction, integration and restructuring expenses, pending claims and settlements and a gain related to an interest-rate hedge associated with the Port Arthur LNG Phase 1 investment. Adjusted earnings from the Lower 48 segment increased to $2.58 billion from $1.19 billion in the prior-year quarter. The segment remained the largest contributor to consolidated adjusted earnings as stronger prices supported profitability. Alaska adjusted earnings increased to $522 million from $135 million. Canada generated $378 million, up from $149 million, while adjusted earnings from Europe, the Middle East and North Africa rose to $346 million from $237 million. Asia Pacific contributed $389 million compared with $330 million a year ago. Total company production declined 143 MBOED. After adjusting for closed acquisitions and dispositions, production decreased 98 MBOED or 4%. Organic growth in the Lower 48 was more than offset by the impact of the Middle East conflict on Qatar and higher Surmont royalties. Lower 48 production reached 1,479 MBOED. The Delaware Basin contributed 720 MBOED, followed by Eagle Ford at 363 MBOED, the Midland Basin at 202 MBOED and the Bakken at 189 MBOED. Management highlighted record production from its Permian position. Total costs and expenses increased 14.6% to $13.44 billion from $11.73 billion in the prior-year quarter. Purchased commodity costs rose to $6.71 billion from $5.09 billion, reflecting the stronger commodity-price environment. Production and operating expenses declined 5.5% to $2.43 billion, while selling, general and administrative expenses fell 24.8% to $188 million. However, taxes other than income taxes increased to $793 million from $572 million, and depreciation, depletion and amortization rose to $2.98 billion. Cash provided by operating activities totaled $7.43 billion. Excluding working-capital changes, cash from operations reached $7.18 billion. The company funded $3 billion of capital expenditures and investments during the quarter. As of June 30, COP had $6.57 billion in cash and cash equivalents, $1.12 billion in short-term investments and $1.16 billion in long-term debt securities. Shareholder distributions totaled $3 billion, comprising $2 billion of share repurchases and $1 billion of ordinary dividends. ConocoPhillips expects third-quarter 2026 production of 2.29-2.32 million barrels of oil equivalent per day. All full-year guidance items were reaffirmed. The company declared a third-quarter ordinary dividend of 84 cents per share. Management reiterated that COP remains on track to return 45% of cash from operations to shareholders in 2026. ConocoPhillips currently carries a Zacks Rank #4 (Sell). Some better-ranked stocks from the energy sector are PBF Energy Inc. PBF, HF Sinclair Corporation DINO and Cactus, Inc. WHD. PBF sports a Zacks Rank #1 (Strong Buy) at present, while DINO and WHD carry a Zacks Rank #2 (Buy) each. You can see the complete list of today’s Zacks Rank #1 stocks here. PBF reported second-quarter 2026 adjusted earnings of $6.22 per share, surpassing the Zacks Consensus Estimate of $4.05. As of June 30, 2026, PBF had total debt of $1.75 billion, and cash and cash equivalents of $894.1 million. HF Sinclair reported second-quarter 2026 adjusted earnings of $5.31 per share, topping the Zacks Consensus Estimate of $4.39. As of June 30, 2026, DINO had total debt of $2.77 billion, and cash and cash equivalents of $2.26 billion. Cactus reported second-quarter 2026 adjusted earnings of 93 cents per share, surpassing the Zacks Consensus Estimate of 71 cents. As of June 30, 2026, WHD had cash and cash equivalents of $365 million. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report ConocoPhillips (COP) : Free Stock Analysis Report PBF Energy Inc. (PBF) : Free Stock Analysis Report Cactus, Inc. (WHD) : Free Stock Analysis Report HF Sinclair Corporation (DINO) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

MPLX LP MPLX reported second-quarter 2026 earnings of $1.06 per unit, up 2.9% from $1.03 a year ago. The bottom line surpassed the Zacks Consensus Estimate of $1.04 per unit by 1.9%. Total revenues and other income increased 10.3% to $3.31 billion from $3 billion a year earlier. The top line beat the consensus estimate of $3.19 billion by 3.8%. The strong quarterly results were driven by higher gathering and fractionation volumes. Adjusted EBITDA increased 5% to $1.78 billion. MPLX LP price-consensus-eps-surprise-chart | MPLX LP Quote Net income attributable to MPLX increased to $1.08 billion from $1.05 billion in the year-ago quarter. Income from operations improved 6.6% to $1.38 billion, driven by higher contributions from both operating segments. Total costs and expenses increased 13.1% to $1.93 billion from $1.71 billion recorded in the prior-year quarter. Operating expenses, including purchased product costs, increased to $1.01 billion from $821 million, while depreciation and amortization rose to $365 million from $324 million. Net interest and other financial costs increased 23.5% to $289 million. Crude Oil and Products Logistics segment adjusted EBITDA increased 2% to $1.16 billion. Higher rates across the business and increased butane blending more than offset lower crude pipeline throughput and higher operating expenses. Total pipeline throughput declined 4% to 5.88 million barrels per day (MMBbl/d). Crude oil pipeline volumes fell 5% to 3.83 MMBbl/d from 4.01 MMBbl/d, while product pipeline volumes decreased 2% to $2.05 MMBbl/d from $2.09 MMBbl/d in the prior-year quarter. Terminal throughput increased 2% to 3.26 MMBbl/d, and the average pipeline tariff rate edged up 1% to $1.07 per barrel. Natural Gas and NGL Services segment adjusted EBITDA advanced 11% to $614 million. The increase reflected higher volumes, contributions from equity affiliates and acquisitions. These benefits were partly offset by the 2025 divestiture of non-core Rockies gathering and processing assets. Gathering throughput rose 5% to 6.86 billion cubic feet per day (Bcf/d), while fractionation volumes increased 7% to 680,000 barrels per day (Bbl/d). Natural gas processed declined 2% to 9.59 Bcf/d. Excluding divested assets, gathering and processing volumes increased 15% and 5%, respectively. Net cash provided by operating activities totaled $1.70 billion compared with $1.74 billion a year ago. Distributable cash flow increased to $1.45 billion from $1.42 billion, while adjusted free cash flow totaled $668 million. MPLX declared a distribution of $1.0765 per unit, up from 95.65 cents a year earlier, resulting in 1.3X coverage. The partnership returned more than $1.1 billion to unitholders, including $50 million through unit repurchases. Management expects distribution increases of 12.5% in 2026 and 2027. The partnership ended June with $1.03 billion in cash, $2.5 billion available under its revolving credit facility and $1.5 billion available through its intercompany loan agreement with Marathon Petroleum. Total debt was $25.64 billion, while leverage remained at 3.7X. MPLX placed the 200-million-cubic-feet-per-day (MMcf/d) Secretariat I processing plant into service in April. The partnership exited the quarter with 86% utilization across its Delaware Basin processing system. Marcellus processing utilization reached 96%, supporting record volumes across the system. Harmon Creek III began operations in August, adding 300 MMcf/d of processing capacity and 40,000 Bbl/d of de-ethanization capacity. The BANGL pipeline expansion to 300,000 Bbl/d, Blackcomb pipeline and Titan sour gas treating expansion are expected to enter service in the fourth quarter. The partnership raised its 2026 capital spending outlook by $500 million to $2.9 billion. The increase primarily reflects accelerated work on its Gulf Coast fractionation project, pulling forward spending previously planned for early 2027. More than 90% of organic growth capital is directed toward natural gas and natural gas liquids infrastructure. Management expects the project sequence to drive stronger adjusted EBITDA in the third quarter than the second quarter, followed by sequential growth in the fourth quarter. MPLX continues to target mid-single-digit adjusted EBITDA growth for 2026. MPLX currently carries a Zacks Rank #3 (Hold). Some better-ranked stocks from the energy sector are PBF Energy Inc. PBF, HF Sinclair Corporation DINO and Cactus, Inc. WHD. PBF sports a Zacks Rank #1 (Strong Buy), while DINO and WHD carry a Zacks Rank #2 (Buy) each, at present. You can see the complete list of today’s Zacks Rank #1 stocks here. PBF reported second-quarter 2026 adjusted earnings of $6.22 per share, surpassing the Zacks Consensus Estimate of $4.05 per share. As of June 30, 2026, PBF had total debt of $1.75 billion, and cash and cash equivalents of $894.1 million. HF Sinclair reported second-quarter 2026 adjusted earnings of $5.31 per share, topping the Zacks Consensus Estimate of $4.39 per share. As of June 30, 2026, DINO had total debt of $2.77 billion, and cash and cash equivalents of $2.26 billion. Cactus reported second-quarter 2026 adjusted earnings of 93 cents per share, surpassing the Zacks Consensus Estimate of 71 cents per share. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report MPLX LP (MPLX) : Free Stock Analysis Report PBF Energy Inc. (PBF) : Free Stock Analysis Report Cactus, Inc. (WHD) : Free Stock Analysis Report HF Sinclair Corporation (DINO) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Sunoco LP SUN reported second-quarter 2026 earnings of 94 cents per unit, skyrocketing 184.8% from 33 cents a year ago. However, the bottom line missed the Zacks Consensus Estimate of $2.68 by 64.9%. Quarterly revenues soared 164.5% to $14.26 billion from $5.39 billion in the prior-year quarter. The top line surpassed the consensus estimate of $10.15 billion by 40.5%. Top-line growth was driven by acquired operations, higher fuel volumes and stronger fuel margins. SUN sold 4.13 billion gallons of motor fuel at a profit of 17.1 cents per gallon. Sunoco LP price-consensus-eps-surprise-chart | Sunoco LP Quote Net income increased to $283 million from $86 million in the prior-year quarter. Operating income advanced 187.2% to $583 million, as the Parkland acquisition and other acquired assets expanded the partnership’s operating footprint. The benefits were accompanied by a sharp increase in costs. Total cost of sales and operating expenses rose 163.6% to $13.68 billion from $5.19 billion a year ago. Cost of sales reached $12.80 billion, higher than the $4.82 billion recorded a year earlier, while operating expenses increased to $381 million from $145 million. The Fuel Distribution segment remained the largest earnings contributor. Segment adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) increased 144.7% to $504 million from $206 million in the year-ago quarter. Excluding $12 million of transaction-related expenses, adjusted EBITDA totaled $516 million. Motor fuel volumes increased 88.5% to 4.13 billion gallons due to the Parkland acquisition. Fuel profit rose to $686 million from $191 million, supported by the increase in motor fuel profit per gallon from 10.5 cents to 17.1 cents. Non-fuel profit reached $162 million from $41 million, while lease profit was $43 million compared with $30 million in the prior-year quarter. Pipeline Systems adjusted EBITDA improved 7.3% to $190 million from $177 million in the year-ago quarter. Throughput averaged 1.35 million barrels per day (MMBbl/d), up from 1.23 MMBbl/d a year earlier. The increase reflected stronger market demand, new business and contributions from the ET-S Permian investment. The positives were partially offset by an increase in expenses driven by higher maintenance costs, utility costs and corporate allocations. The Terminals segment generated adjusted EBITDA of $113 million, up 59.2% from $71 million. Excluding transaction-related expenses, adjusted EBITDA was $115 million. Throughput increased 51.7% to 1.07 million barrels per day, driven by the Parkland and TanQuid acquisitions and customer growth. The Refinery segment contributed adjusted EBITDA of $175 million. Composite utilization was 103%, while crude utilization reached 97%. Crude throughput averaged 54,000 barrels per day, supplemented by 3,000 barrels per day of bio-feedstock throughput. Management credited the Burnaby refinery’s performance to strong refining margins, improved reliability and disciplined operating costs. Refining margin exceeded $40 per barrel, while operating expenses remained below $10 per barrel. The facility benefited from a completed turnaround and favorable market conditions. Adjusted EBITDA totaled $982 million, up 116.3% year over year. Excluding $14 million of transaction-related expenses, adjusted EBITDA was $996 million. Distributable cash flow, as adjusted, more than doubled to $608 million from $300 million. Capital expenditure totaled $202 million, including $125 million for growth projects and $77 million for maintenance. The partnership declared a quarterly distribution of $1.0023 per unit, up 1.25% sequentially and more than 10% year over year. The increase marked SUN’s seventh consecutive quarterly distribution hike and was consistent with its multi-year target of at least 5% annual distribution growth. As of June 30, 2026, Sunoco had cash and cash equivalents of $773 million, and net long-term debt of $13.31 billion. SUN ended the quarter with $2.3 billion available under its revolving credit facility and a leverage ratio of 3.7X, below its long-term target of 4X. SUN increased its 2026 adjusted EBITDA guidance by $400 million to $3.5-$3.7 billion. Management expects all four operating segments to continue performing well during the second half of the year. The range primarily reflects uncertainty regarding refining margins. Management used forward refining crack spreads as a starting point but noted that the Fuel Distribution, Pipeline Systems and Terminals businesses offer greater earnings visibility. Contributions and synergies from the Parkland acquisition are running ahead of schedule. Sunoco currently carries a Zacks Rank #3 (Hold). Some better-ranked stocks from the energy sector are PBF Energy Inc. PBF, HF Sinclair Corporation DINO and Cactus, Inc. WHD. PBF sports a Zacks Rank #1 (Strong Buy), whereas DINO and WHD carry a Zacks Rank #2 (Buy) each at present. You can see the complete list of today’s Zacks Rank #1 stocks here. PBF reported second-quarter 2026 adjusted earnings of $6.22 per share, surpassing the Zacks Consensus Estimate of $4.05 per share. As of June 30, 2026, PBF had total debt of $1.75 billion, and cash and cash equivalents of $894.1 million. HF Sinclair reported second-quarter 2026 adjusted earnings of $5.31 per share, topping the Zacks Consensus Estimate of $4.39 per share. As of June 30, 2026, DINO had total debt of $2.77 billion, and cash and cash equivalents of $2.26 billion. Cactus reported second-quarter 2026 adjusted earnings of 93 cents per share, surpassing the Zacks Consensus Estimate of 71 cents per share. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Sunoco LP (SUN) : Free Stock Analysis Report PBF Energy Inc. (PBF) : Free Stock Analysis Report Cactus, Inc. (WHD) : Free Stock Analysis Report HF Sinclair Corporation (DINO) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Phillips 66 PSX reported second-quarter 2026 adjusted earnings of $9.41 per share, up 295.4% from $2.38 per share a year ago. The bottom line beat the Zacks Consensus Estimate of $7.68 by 22.5%. Total revenues and other income increased 56.2% to $52.04 billion from $35.52 billion a year earlier. The top line surpassed the consensus estimate of $36.17 billion by 43.9%. The strong quarterly results were driven by higher refining margins. The refining system achieved 96% crude capacity utilization and a clean product yield of 86%. Phillips 66 price-consensus-eps-surprise-chart | Phillips 66 Quote Refining adjusted pre-tax income jumped to $3.09 billion from $392 million in the year-ago quarter. The segment benefited from stronger market crack spreads, favorable mark-to-market impacts and solid operating performance across the refining system. Worldwide realized refining margins increased to $24.08 per barrel from $11.25 per barrel a year earlier. Total processed inputs averaged 2.05 million barrels per day (MMBbl/d), while turnaround expenses increased to $123 million from $53 million in the prior-year quarter. Refining adjusted EBITDA totaled $3.31 billion. Midstream adjusted pre-tax income increased 7.4% to $785 million. The segment’s adjusted EBITDA reached $1.05 billion, driven by higher margins and volumes following the absence of disruptions caused by Winter Storm Fern in the prior quarter. Natural gas liquids (NGL) pipeline throughput to market averaged 943,000 barrels per day (Bbl/d), while fractionation volumes reached a record 1.02 MMBbl/d. Phillips 66 achieved record liquefied petroleum gas export volumes and brought the 220-million-cubic-feet-per-day (MMcf/d) Dos Picos II gas plant to full production. Chemicals adjusted pre-tax income rose sharply to $404 million from $20 million in the prior-year quarter. The improvement primarily reflected stronger margins across Chevron Phillips Chemical Company’s olefins and polyolefins operations. Global olefins and polyolefins capacity utilization was 91% compared with 92% a year ago. The ethylene-to-high-density-polyethylene chain cash margin increased to 43.6 cents per pound from 7.4 cents per pound, providing a significant earnings tailwind despite slightly lower utilization. Chemicals adjusted EBITDA was $528 million. Marketing and Specialties generated adjusted pre-tax income of $514 million compared with $660 million a year earlier. Renewable Fuels posted pre-tax income of $544 million, reversing a loss of $133 million in the year-ago period. Higher regulatory-credit pricing, increased production and favorable mark-to-market impacts supported the turnaround. Renewable fuel production increased to 53,000 Bbl/d from 40,000 Bbl/d a year ago. Phillips 66 generated $7.26 billion of operating cash flow. Excluding working-capital movements, operating cash flow totaled $4.32 billion. Adjusted EBITDA increased to $5.89 billion from $2.50 billion a year earlier. As of June 30, 2026, Phillips 66 had total debt of $6.56 billion and net debt of $16.47 billion. Quarter-end liquidity included $4.10 billion of cash and $6.40 billion of committed credit capacity. PSX returned $887 million to shareholders during the quarter. This included $508 million in dividends and $379 million in share repurchases. Capital expenditures and investments totaled $726 million, comprising $469 million of growth spending and $257 million of sustaining capital. The company announced plans to construct the 300 MMcf/d Zeus Gas Plant in the Permian Basin and a 100,000 Bbl/d Coastal Bend NGL fractionator in Corpus Christi. CPChem also continued advancing the Golden Triangle Polymers and Ras Laffan Polymers projects, with full operations expected in 2027. Phillips 66 currently carries a Zacks Rank #3 (Hold). Some better-ranked stocks from the energy sector are PBF Energy Inc. PBF, HF Sinclair Corporation DINO and Cactus, Inc. WHD. PBF sports a Zacks Rank #1 (Strong Buy), while DINO and WHD carry a Zacks Rank #2 (Buy) each at present. You can see the complete list of today’s Zacks Rank #1 stocks here. PBF reported second-quarter 2026 adjusted earnings of $6.22 per share, surpassing the Zacks Consensus Estimate of $4.05 per share. As of June 30, 2026, PBF had total debt of $1.75 billion, and cash and cash equivalents of $894.1 million. HF Sinclair reported second-quarter 2026 adjusted earnings of $5.31 per share, topping the Zacks Consensus Estimate of $4.39 per share. As of June 30, 2026, DINO had total debt of $2.77 billion, and cash and cash equivalents of $2.26 billion. Cactus reported second-quarter 2026 adjusted earnings of 93 cents per share, surpassing the Zacks Consensus Estimate of 71 cents per share. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Phillips 66 (PSX) : Free Stock Analysis Report PBF Energy Inc. (PBF) : Free Stock Analysis Report Cactus, Inc. (WHD) : Free Stock Analysis Report HF Sinclair Corporation (DINO) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research