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Global Partners

Global Partners LP is an U.S.-based limited partnership that acts as a midstream logistics and marketing company. It is mainly engaged in purchasing, selling, storing and logistics of transporting petroleum and related products. The company owns and operates and control terminal networks of refined petroleum products and renewable fuels in Massachusetts, Maine, Connecticut, Vermont, and other places. It distributes gasoline and gasoline blendstocks, distillates, residual oil, renewable fuels, crude oil, natural gas and propane to wholesalers, retailers and commercial customers. The company operates through three segments i.e. Wholesale, Gasoline Distribution and Station Operations and Commercial. It generates maximum revenue from the Wholesale segment.

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Global Partners LP (NYSE: GLP) reported Q2 2023 sales of $3.832 billion, 

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Global Partners Reports Q1 EPS Beat, Strong Gasoline Distribution And Station Operations Performance

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Global Partners LP Common Units representing Limited Partner Interests

Global Partners LP

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GALP ENERGIA SA UNSP/ADR by Galp Energia, SA

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GLOBAL PROFIT TCHS INC FL by Global Profit Technologies, Inc.

Global Profit Technologies Inc

Global Partners LP 9.50% Series B Fixed Rate Cumulative Redeemable Perpetual Preferred Units representing limited partner interests

Globe Life Inc. 4.25% Junior Subordinated Debentures due 2061

America&#8217;s president-elect is set to introduce a series of new energy-focused policies, rolling back regulatory red tape introduced by the Biden administration. Energy stocks, including a handful of drilling and exploration companies, rallied on the stock market following Trump's victory on November 5.&nbsp;
Trump's plans will mean <a href="https://www.cbtnews.com/trumps-energy-agenda-puts-fossil-fuels-back-at-the-center/">rolling back climate-focused efforts</a>, including those under the Inflation Reduction Act (IRA), removing exportation restrictions for liquefied natural gas (LNG), bolstering exploration on federal land, and increasing off-shore production. The new policy package would form part of Trump's "drill baby drill" campaign while emphasizing domestic production and exportation of non-renewables.&nbsp;
By aligning key promises made during his campaign, Trump's fossil fuel agenda could help ignite the energy sector following years of conservative performance. The last couple of years have seen investors turning cold on the energy sector and instead focus more on high-yielding tech stocks.&nbsp;
Regulatory pressures, geopolitical tensions, economic volatility, and a series of energy price crunches have sent energy and oil stocks tumbling. However, despite the more modest performance, the <a href="https://www.spglobal.com/spdji/en/indices/equity/sp-500-energy-sector/#overview">S&amp;P 500 Energy</a> (Sector) is up 12.74% year-to-date, compared to the S&amp;P Global Clean Energy Index which is down -21.28% since the turn of the year.&nbsp;
Investors wanting to diversify their portfolios could see promising results, as next year is looking to present plenty of new opportunities. With the energy, oil, and gas sectors seeing a revival under Trump, a handful of household names could benefit from his policies in the next four years.
<h2 class="wp-block-heading">Enterprise Products Partners</h2>
Enterprise Products Partners (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EDP#NYSE">EDP</a>) operates four primary business segments, which include natural gas liquids, crude oil, petrochemical products, and natural gas. The company has roughly 29 natural gas processing plants in North America and operates several key crude oil pipeline systems throughout Oklahoma, New Mexico, and Texas.
Enterprise operates as an integrated midstream energy company, providing transportation, storage, and distribution services to major exploration companies. By playing the middleman, Enterprise has largely been shielded from volatile energy price fluctuations experienced over the last few years.&nbsp;
By the numbers, Enterprise delivered modest but impressive <a href="https://ir.enterpriseproducts.com/news-releases/news-release-details/enterprise-reports-results-third-quarter-2024">results for the third quarter</a>, ending September 30. Overall, the company reported $13.7 billion in revenue, up approximately 14.81% year over year. Net income rose 8% to $1.4 billion, or $0.64 per unit on a fully adjusted basis, compared to $1.3 billion in Q3 2023.
Following the U.S. election, EPD shares rose more than 15% further adding to its ongoing robust performance. Since the turn of the year, share prices have climbed more than 26%. Enterprise shows relative strength and long-term developments could play in the company's favor.&nbsp;
<h2 class="wp-block-heading">Global Partners</h2>
Global Partners (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLP#NYSE">GLP</a>) holds a mixed portfolio of energy-focused businesses, providing transportation and distribution solutions to a line of wholesale, commercial, and retail customers across the United States.&nbsp;
With a vertically integrated distribution network, Global Partners creates energy and fossil fuel supply chain dependency for millions of customers across the Northeast. In total, the company has roughly 1,700 retail stations and helps to fill more than one million automobile gas tanks every day.&nbsp;
<a href="https://ir.globalp.com/news/news-details/2024/Global-Partners-Reports-Third-Quarter-2024-Financial-Results/default.aspx">Third-quarter results </a>were modest, in most aspects, with revenue up 4.77% to $4.4 billion for the period ending September 30. Elsewhere, the company reported a 315.87% year-over-year improvement in net cash flow of $305 million for the quarterly period.&nbsp;
This year, the company has aligned its strategy to meet growing volume demand across its key business segments, including Gasoline Distribution and Station Operations. In the last 11 months, the company has integrated 29 new terminals, and capitalized on more favorable conditions in the Wholesale and Commercial segments.&nbsp;
More than this, at the beginning of November, the company <a href="https://www.globalp.com/news/investor-relations/global-partners-lp-completes-acquisition-of-east-providence-liquid-energy-terminal/">announced</a> the acquisition of the ExxonMobil terminal in East Providence, Rhode Island. This transaction will help increase its existing terminal network, adding more than 959,730 barrels of storage and a deep-water dock.
Share prices remain elevated, and have climbed more than 32% this year. GLP is up 9.37% from its peak in June, and post-election performance added more than 17% to its value.
<h2 class="wp-block-heading">Texas Pacific Land</h2>
Trading since 1888, Texas Pacific Land (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TPL#NYSE">TPL</a>) is one of the most established land and resource management companies in the U.S. and holds operations across 19 different counties.&nbsp;
Its revenue stream is divided into several segments, including oil and gas royalties, commercial leases, material and land sales, and easements. In addition to this, Texas Pacific operates key water and operation services, including water sourcing, infrastructure development, water tracking, well tracking, and data analytics.&nbsp;
It's like they say, "Everything is bigger and better in Texas" and with TLP the sky seems to be the limit. During the third quarter earnings report, the company announced several key highlights, including the acquisition of mineral interest across more than 4,106 net royalty acres, and acquired approximately 4,120 surface acres and other surface-related acres.&nbsp;
Royalty production currently stands at 28.3 thousand barrels of oil per day. The company now holds a royalty acreage of 6.9 net well permits, 11.8 net drilled and uncompleted wells, and 79.2 net producing wells.
By the numbers, <a href="https://www.texaspacific.com/investors/news-events/press-releases/detail/164/texas-pacific-land-corporation-announces-third-quarter">revenue rose 9.87%</a> year over year to $173.56 million. Consolidated net income of $106.6 million, equated to $4.63 per diluted share. Elsewhere on their balance sheet, the company announced a special cash dividend of $10.00 per share and a quarterly dividend of $1.17 per share paid in September.&nbsp;
Perhaps the most attractive part of buying TPL is how much share performance has surged this year. Since the beginning of the year, TPL has climbed by more than 206% and is already up more than 79% since the start of the fourth quarter through November 28.&nbsp;
Beyond its share performance, TPL holds plenty of growing momentum. For dividend-focused investors, this could be an option that delivers results, and perhaps benefit from more petroleum-focused policies in the coming years.
<h2 class="wp-block-heading">Energy Stocks: Conclusion</h2>
The energy sector could see a new light once Trump takes office. Increased regulatory support and higher exploration opportunities could present the energy sector with much-needed revival. Investors looking to benefit from this increased activity should look for energy and oil companies that present upside potential, but are shielded from volatile price changes. The next four years could bring big changes for the sector and could see investors turning from tech to energy as a more lucrative and reliable source of income. 
Disclosure: No positions and no conflicts of interest.

Stifel analyst Selman Akyol maintains Global Partners (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLP#NYSE">GLP</a>) with a Buy and raises the price target from $51 to $54.

Stifel Maintains Buy on Global Partners, Raises Price Target to $54

Global Partners (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLP#NYSE">GLP</a>) reported quarterly earnings of $1.17 per share which missed the analyst consensus estimate of $1.57 by 25.48 percent. The company reported quarterly sales of $4.422 billion which missed the analyst consensus estimate of $5.876 billion by 24.75 percent. This is a 4.79 percent increase over sales of $4.220 billion the same period last year.

Earnings Misses

Global Partners Q3 2024 GAAP EPS $1.17 Misses $1.57 Estimate, Sales $4.422B Miss $5.876B Estimate

Global Partners (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLP#NYSE">GLP</a>) will release its quarterly earnings report on Friday, 2024-11-08. Here's a brief overview for investors ahead of the announcement.
Analysts anticipate Global Partners to report an earnings per share (EPS) of $1.57.
Anticipation surrounds Global Partners's announcement, with investors hoping to hear about both surpassing estimates and receiving positive guidance for the next quarter.
New investors should understand that while earnings performance is important, market reactions are often driven by guidance.
<h3>Historical Earnings Performance</h3>
Last quarter the company missed EPS by $0.28, which was followed by a 3.85% increase in the share price the next day.
Here's a look at Global Partners's past performance and the resulting price change:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q2 2024</th>
<th>Q1 2024</th>
<th>Q4 2023</th>
<th>Q3 2023</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>1.38</td>
<td>0.10</td>
<td>0.96</td>
<td>0.81</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>1.10</td>
<td>-0.37</td>
<td>1.41</td>
<td>0.60</td>
</tr>
<tr>
<td>Price Change %</td>
<td>4.0%</td>
<td>2.0%</td>
<td>2.0%</td>
<td>2.0%</td>
</tr>
</tbody>
</table>

<img src="https://www.benzinga.com/files/images/story/2024/1730998940_0.png" alt="eps graph" />
<h3>Tracking Global Partners's Stock Performance</h3>
Shares of Global Partners were trading at $48.5 as of November 06. Over the last 52-week period, shares are up 48.58%. Given that these returns are generally positive, long-term shareholders should be satisfied going into this earnings release. 
<h3>Analysts' Take on Global Partners</h3>
Understanding market sentiments and expectations within the industry is crucial for investors. This analysis delves into the latest insights on Global Partners.
Analysts have given Global Partners a total of 1 ratings, with the consensus rating being Buy. The average one-year price target is $51.0, indicating a potential 5.15% upside.
<h3>Comparing Ratings Among Industry Peers</h3>
The below comparison of the analyst ratings and average 1-year price targets of Teekay Tankers, DHT Holdings and Genesis Energy, three prominent players in the industry, gives insights for their relative performance expectations and market positioning.
<ul>
<li>Teekay Tankers is maintaining an Buy status according to analysts, with an average 1-year price target of $64.0, indicating a potential 31.96% upside.</li>
<li>The consensus outlook from analysts is an Buy trajectory for DHT Holdings, with an average 1-year price target of $13.5, indicating a potential 72.16% downside.</li>
<li>The consensus outlook from analysts is an Outperform trajectory for Genesis Energy, with an average 1-year price target of $16.0, indicating a potential 67.01% downside.</li>
</ul>
<h3>Peers Comparative Analysis Summary</h3>
The peer analysis summary outlines pivotal metrics for Teekay Tankers, DHT Holdings and Genesis Energy, demonstrating their respective standings within the industry and offering valuable insights into their market positions and comparative performance.

<table>
<thead>
<tr>
<th>Company</th>
<th>Consensus</th>
<th>Revenue Growth</th>
<th>Gross Profit</th>
<th>Return on Equity</th>
</tr>
</thead>
<tbody>
<tr>
<td>Global Partners</td>
<td>Buy</td>
<td>15.08%</td>
<td>$287.88M</td>
<td>5.12%</td>
</tr>
<tr>
<td>Teekay Tankers</td>
<td>Buy</td>
<td>-14.90%</td>
<td>$69.29M</td>
<td>3.42%</td>
</tr>
<tr>
<td>DHT Holdings</td>
<td>Buy</td>
<td>-1.18%</td>
<td>$56.60M</td>
<td>4.27%</td>
</tr>
<tr>
<td>Genesis Energy</td>
<td>Outperform</td>
<td>-11.56%</td>
<td>$65.26M</td>
<td>-3.20%</td>
</tr>
</tbody>
</table>

Key Takeaway:
Global Partners is positioned in the middle among its peers for revenue growth, with a growth rate of 15.08%. It ranks at the top for gross profit, standing at $287.88M. In terms of return on equity, it is also in the top position with a rate of 5.12%.
<h3>Discovering Global Partners: A Closer Look</h3>
Global Partners LP is an U.S.-based limited partnership that acts as a midstream logistics and marketing company. It is mainly engaged in purchasing, selling, storing and logistics of transporting petroleum and related products. The company owns and operates and control terminal networks of refined petroleum products and renewable fuels in Massachusetts, Maine, Connecticut, Vermont, and other places. It distributes gasoline and gasoline blendstocks, distillates, residual oil, renewable fuels, crude oil, natural gas and propane to wholesalers, retailers and commercial customers. The company operates through three segments i.e. Wholesale, Gasoline Distribution and Station Operations and Commercial. It generates maximum revenue from the Wholesale segment.
<h3>Unraveling the Financial Story of Global Partners</h3>
Market Capitalization: With restricted market capitalization, the company is positioned below industry averages. This reflects a smaller scale relative to peers.
Revenue Growth: Global Partners's remarkable performance in 3 months is evident. As of 30 June, 2024, the company achieved an impressive revenue growth rate of 15.08%. This signifies a substantial increase in the company's top-line earnings. In comparison to its industry peers, the company stands out with a growth rate higher than the average among peers in the Energy sector.
Net Margin: Global Partners's net margin lags behind industry averages, suggesting challenges in maintaining strong profitability. With a net margin of 0.85%, the company may face hurdles in effective cost management.
Return on Equity (ROE): Global Partners's ROE stands out, surpassing industry averages. With an impressive ROE of 5.12%, the company demonstrates effective use of equity capital and strong financial performance.
Return on Assets (ROA): Global Partners's ROA is below industry standards, pointing towards difficulties in efficiently utilizing assets. With an ROA of 1.03%, the company may encounter challenges in delivering satisfactory returns from its assets.
Debt Management: The company faces challenges in debt management with a debt-to-equity ratio higher than the industry average. With a ratio of 2.94, caution is advised due to increased financial risk.
<a href="https://www.benzinga.com/quote/GLP/earnings">To track all earnings releases for Global Partners visit their earnings calendar on our site.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Preview: Global Partners's Earnings

Although U.S. stocks closed mixed on Tuesday, there were a few notable insider trades.
When insiders purchase shares, it indicates their confidence in the company&#8217;s prospects or that they view the stock as a bargain. Either way, this signals an opportunity to go long on the stock. Insider purchases should not be taken as the only indicator for making an investment or trading decision. At best, it can lend conviction to a buying decision.
Below is a look at a few recent notable insider purchases. For more, check out <a href="https://www.benzinga.com/sec/insider-trades/">Benzinga&#8217;s insider transactions</a> platform.
<h3 class="wp-block-heading">BJ&#8217;s Wholesale</h3>
<ul>
<li>The Trade: BJ&#8217;s Wholesale Club Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BJ#NYSE">BJ</a>) Director Steven L Ortega &nbsp;<a href="https://www.benzinga.com/quote/ONEW/analyst-ratings">acquired a total of 2,455 shares at</a> an average price of $81.26. To acquire these shares, it cost around $199,493.</li>
<li>What's Happening: On Aug. 22, BJ's Wholesale reported better-than-expected second-quarter financial results. Revenue growth of 4.9% Y/Y to $5.205 billion, beating the analyst consensus estimate of $5.145 billion. Total comparable club sales increased by 3.1%. Comparable club sales, excluding gasoline sales, increased by 2.4%.</li>
<li>What BJ&#8217;s Wholesale Does: BJ&#8217;s Wholesale serves as one of the few warehouse club chains in the United States.</li>
</ul>
<h3 class="wp-block-heading">Global Partners</h3>
<ul>
<li>The Trade: Global Partners LP (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLP#NYSE">GLP</a>) Global GP LLC acquired a total of 12,100 shares at an average price of $43.07. To acquire these shares, it cost around $521,110.</li>
<li>What's Happening: On Aug. 7, Global Partners reported downbeat second-quarter results.</li>
<li>What Global Partners Does: Global Partners LP is an U.S.-based limited partnership that acts as a midstream logistics and marketing company.</li>
</ul>
<h3 class="wp-block-heading">SR Bancorp</h3>
<ul>
<li>The Trade: SR Bancorp, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SRBK#NASDAQ">SRBK</a>) Director Marc Lebovitz <a href="https://www.benzinga.com/sec/insider-trades/">bought a total of 10,200 shares</a> at an average price of $10.15. To acquire these shares, it cost around $103,506.</li>
<li>What's Happening: On July 30, SR Bancorp posted a second-quarter loss of 34 cents per share.</li>
<li>What SR Bancorp Does: SR Bancorp Inc principal business is to acquire deposits from individuals and businesses in the communities surrounding offices and to use these deposits to fund loans. </li>
</ul>
Read Next: 
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<li><a href="https://www.benzinga.com/24/09/40898216/cramer-hewlett-packard-is-a-very-inexpensive-stock-likes-this-big-tech-stock">Cramer: Hewlett Packard Is A &#8216;Very Inexpensive&#8217; Stock, Likes This Big Tech Stock</a></li>
</ul>

Stifel analyst Selman Akyol maintains Global Partners (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLP#NYSE">GLP</a>) with a Buy and raises the price target from $50 to $51.

Stifel Maintains Buy on Global Partners, Raises Price Target to $51

Global Partners (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLP#NYSE">GLP</a>) reported quarterly earnings of $1.10 per share which missed the analyst consensus estimate of $1.50 by 26.67 percent. The company reported quarterly sales of $4.409 billion which missed the analyst consensus estimate of $5.512 billion by 20.01 percent. This is a 15.06 percent increase over sales of $3.832 billion the same period last year.

Global Partners Q2 2024 GAAP EPS $1.10 Misses $1.50 Estimate, Sales $4.409B Miss $5.512B Estimate

Although U.S. stocks closed mixed on Tuesday, there were a few notable insider trades.
When insiders purchase shares, it indicates their confidence in the company&#8217;s prospects or that they view the stock as a bargain. Either way, this signals an opportunity to go long on the stock. Insider purchases should not be taken as the only indicator for making an investment or trading decision. At best, it can lend conviction to a buying decision.
Below is a look at a few recent notable insider purchases. For more, check out <a href="https://www.benzinga.com/sec/insider-trades/">Benzinga&#8217;s insider transactions</a> platform.
<h3 class="wp-block-heading">ProFrac Holding</h3>
<ul>
<li>The Trade: ProFrac Holding Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ACDC#NASDAQ">ACDC</a>) 10% owner Dan H. Wilks <a href="https://www.benzinga.com/quote/ACDC/analyst-ratings">acquired a total of 460,000 shares</a> at an average price of $9.41. To acquire these shares, it cost around $4.33 million.</li>
<li>What's Happening: ProFrac Holding said Lance Turner will resign as CFO effective June 17.</li>
<li>What ProFrac Holding Does: ProFrac Holding Corp is engaged in providing hydraulic fracturing, completion services, and other complementary products and services to upstream oil and gas companies engaged in the exploration and production of North American unconventional oil and natural gas resources.</li>
</ul>
<h3 class="wp-block-heading">Global Partners</h3>
<ul>
<li>The Trade: Global Partners LP (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLP#NYSE">GLP</a>) Global GP LLC acquired a total of 30,000 shares at an average price of $44.72. To acquire these shares, it cost around $1.34 million.</li>
<li>What's Happening: On May 8, Global Partners posted downbeat quarterly results.</li>
<li>What Global Partners Does: Global Partners LP is an U.S.-based limited partnership that acts as a midstream logistics and marketing company.</li>
</ul>
Don&#8217;t forget to check out our <a href="https://www.benzinga.com/premarket/">premarket coverage here</a><a href="https://www.benzinga.com/premarket/"> </a>
<h3 class="wp-block-heading">GeneDx Holdings</h3>
<ul>
<li>The Trade: GeneDx Holdings Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WGS#NASDAQ">WGS</a>) 10% owner Casdin Partners FO1-MSV, LP <a href="https://www.benzinga.com/sec/insider-trades/">bought a total of 170,000 shares</a> at an average price of $20.15. To acquire these shares, it cost around $3.42 million.</li>
<li>What's Happening: On April 30, GeneDx reported better-than-expected first-quarter financial results.</li>
<li>What GeneDx Holdings Does: GeneDx Holdings Corp delivers personalized and actionable health insights to inform diagnosis, direct treatment and improve drug discovery.</li>
</ul>
Read More: <a href="https://www.benzinga.com/news/earnings/24/05/39055083/advance-auto-parts-ooma-and-3-stocks-to-watch-heading-into-wednesday">Advance Auto Parts, Ooma And 3 Stocks To Watch Heading Into Wednesday</a>

Although U.S. stocks closed mixed on Monday, there were a few notable insider trades.
When insiders purchase shares, it indicates their confidence in the company&#8217;s prospects or that they view the stock as a bargain. Either way, this signals an opportunity to go long on the stock. Insider purchases should not be taken as the only indicator for making an investment or trading decision. At best, it can lend conviction to a buying decision.
Below is a look at a few recent notable insider purchases. For more, check out <a href="https://www.benzinga.com/sec/insider-trades/">Benzinga&#8217;s insider transactions</a> platform.
<h3 class="wp-block-heading">Global Partners</h3>
<ul>
<li>The Trade: Global Partners LP (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLP#NYSE">GLP</a>) Global GP LLC <a href="https://www.benzinga.com/quote/HEAR/analyst-ratings">acquired a total of 30,000 shares</a>  an average price of $44.19. To acquire these shares, it cost around $1.33 million.</li>
<li>What's Happening: On May 8, Global Partners posted downbeat quarterly results.</li>
<li>What Global Partners Does: Global Partners LP is an U.S.-based limited partnership that acts as a midstream logistics and marketing company.</li>
</ul>
<h3 class="wp-block-heading">Vestis</h3>
<ul>
<li>The Trade: Vestis Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VSTS#NYSE">VSTS</a>) 10% owner Keith A. Meister acquired a total of 116,044 shares at an average price of $12.59. To acquire these shares, it cost around $1.46 million.</li>
<li>What's Happening: On May 7, Redburn Atlantic analyst Oliver Davies downgraded Vestis from Buy to Neutral.</li>
<li>What Vestis Does: Vestis Corp is a provider of uniform rentals and workplace supplies across the United States and Canada.</li>
</ul>
Don&#8217;t forget to check out our <a href="https://www.benzinga.com/premarket/">premarket coverage here</a>
<h3 class="wp-block-heading">Citi Trends</h3>
<ul>
<li>The Trade: Citi Trends, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CTRN#NASDAQ">CTRN</a>) 10% owner Pleasant Lake Partners LLC <a href="https://www.benzinga.com/sec/insider-trades/">bought a total of 41,450 shares</a> at an average price of $22.85. To acquire these shares, it cost around $946,940.</li>
<li>What's Happening: On March 19, Citi Trends reported worse-than-expected fourth-quarter financial results.</li>
<li>What Citi Trends Does: Citi Trends Inc is a retailer of urban fashion apparel and accessories in the United States.</li>
</ul>
<h3 class="wp-block-heading">HF Sinclair</h3>
<ul>
<li>The Trade: HF Sinclair Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DINO#NYSE">DINO</a>) Director Franklin Myers <a href="https://www.benzinga.com/sec/insider-trades/">bought a total of 6,500 shares</a> at an average price of $57.37. The insider spent around $372,905 to buy those shares.</li>
<li>What's Happening: On May 8, HF Sinclair reported mixed first-quarter financial results and announced a new $1 billion stock buyback.</li>
<li>What HF Sinclair Does: HF Sinclair is an integrated petroleum refiner that owns and operates seven refineries serving the Rockies, midcontinent, Southwest, and Pacific Northwest, with a total crude oil throughput capacity of 678,000 barrels per day.</li>
</ul>
Check This Out: <a href="https://www.benzinga.com/news/24/05/38920102/jim-cramer-says-this-materials-stock-is-a-great-spec-plus-he-recommends-buying-abercrombie-fitch">Jim Cramer Says This Materials Stock Is A &#8216;Great Spec,&#8217; Plus He Recommends Buying Abercrombie &amp; Fitch</a>

Global Partners (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLP#NYSE">GLP</a>) reported quarterly losses of $(0.37) per share which missed the analyst consensus estimate of $0.10 by 470 percent. This is a 152.86 percent decrease over earnings of $0.70 per share from the same period last year. The company reported quarterly sales of $4.14 billion which missed the analyst consensus estimate of $5.22 billion by 20.61 percent. This is a 2.85 percent increase over sales of $4.03 billion the same period last year.

Global Partners Q1 EPS $(0.37) Misses $0.10 Estimate, Sales $4.14B Miss $5.22B Estimate

Gaming and Leisure Properties Sees2024 AFFO $3.71-$3.74 Per Share

BP plc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bp#NYSE">BP</a>), a global leader in the energy sector, has announced the commencement of oil production from its latest offshore platform, Azeri Central East (&quot;ACE&quot;), located offshore Azerbaijan. This marks the inauguration of BP&#39;s seventh offshore platform at the Azeri-Chirag-Gunashli (&quot;ACG&quot;) field in the Caspian Sea.
The ACG field, which kickstarted its production journey in 1997, has been a pillar in Azerbaijan&#39;s oil industry, contributing more than 4.3 billion barrels of oil to date. However, the country&#39;s oil production has seen a decline since reaching its peak of approximately 1 million barrels per day during 2011-2012.
The ACE project, backed by a $6 billion investment, marks the next stage in the evolution of the ACG field. Positioned strategically at a water depth of 137 meters, the platform is equipped with 48 slots for production, drilling and accommodation, strategically placed between the Central Azeri and East Azeri platforms.
Designed to handle up to 100,000 barrels per day, the ACE platform and its associated infrastructure are poised to play a pivotal role in revitalizing Azerbaijan&#39;s oil production landscape. The project, with its anticipated lifespan, is projected to yield a staggering 300 million barrels of oil.
BP has outlined ambitious plans for the ACE platform, expecting to witness a substantial boost in its production capacity in the coming years. As part of these plans, BP aims to drill, complete and activate two additional wells, which is anticipated to escalate ACE&#39;s production to approximately 24,000 barrels per day by 2024.
The ACE platform distinguishes itself with its technological sophistication and digital prowess. Leveraging automation and modern processes, the platform ensures safer and more efficient operations while concurrently reducing operational emissions. Gary Jones, BP&#39;s regional president for Azerbaijan, Georgia and Turkiye, highlighted the collaboration between BP, SOCAR and the government of Azerbaijan as instrumental in this success.&nbsp;
<h3>Zacks Rank &amp; Key Picks</h3>
BP currently carries a Zack Rank #3 (Hold).
Some better-ranked stocks in the&nbsp;energy&nbsp;sector are&nbsp;Murphy USA Inc.&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/musa#NYSE">MUSA</a>), Global Partners&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/glp#NYSE">GLP</a>) and Sunoco LP (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/sun#NYSE">SUN</a>). While Murphy USA and Global Partners sport a Zacks Rank #1 (Strong Buy) each, Sunoco LP carries a Zacks Rank #2 (Buy) at present.
Murphy USA is a leading independent retailer of motor fuel and convenience merchandise in the United States.
The Zacks Consensus Estimate for MUSA&#39;s 2024 EPS is pegged at $26.40. The company has a Zacks Style Score of B for Growth and B for Value. It has witnessed upward earnings estimate revisions for 2024 in the past seven days.
Global Partners&nbsp;is a leading operator of gasoline stations and convenience stores. Over the past 60 days, GLP has witnessed upward earnings estimate revisions for 2024 and 2025.
The Zacks Consensus Estimate for Global Partners&#39; 2024 and 2025 EPS is pegged at $3.90 and $4.47, respectively. GLP currently has a Zacks Style Score of A for Value.
Sunoco is among the biggest motor fuel distributors in the U.S. wholesale market in terms of volumes. By distributing more than 10 fuel brands via 10,000 convenience stores under long-term distribution contracts, the partnership will continue to generate stable cash flow.&nbsp;
The Zacks Consensus Estimate for SUN&#39;s 2024 EPS is pegged at $4.99. The company has witnessed upward earnings estimate revisions for 2024 in the past seven days.
<a href="https://www.zacks.com/stock/news/2256600/bp-s-new-offshore-platform-in-azerbaijan-goes-operational?cid=CS-BENZ-FT-analyst_blog|company_news_-_energy_sector-2256600">To read this article on Zacks.com click here.</a>

BP's New Offshore Platform in Azerbaijan Goes Operational

Global Partners President And CEO Eric Slifka Says We Begin 2024 With Strong Balance Sheet And Cash Flows That Position Us To Continue To Execute On Our Strategic Priorities

Global Partners (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLP#NYSE">GLP</a>) reported quarterly earnings of $1.41 per share which beat the analyst consensus estimate of $0.96 by 46.87 percent. The company reported quarterly sales of $4.41 billion which beat the analyst consensus estimate of $4.39 billion by 0.35 percent. This is a 0.41 percent decrease over sales of $4.43 billion the same period last year.

Earnings Beats

Global Partners Q4 2023 GAAP EPS $1.41 Beats $0.96 Estimate, Sales $4.41B Beat $4.39B Estimate

Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our <a href="https://www.benzinga.com/analyst-ratings/">analyst ratings page</a>.
<ul>
<li>Raymond James raised Fusion Pharmaceuticals Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/fusn#NASDAQ">FUSN</a>) price target from $12 to $15. Raymond James analyst Rahul Sarugaser upgraded the stock from Outperform to Strong Buy. Fusion Pharmaceuticals shares jumped 16.7% to close at $7.97 on Tuesday. <a href="https://www.benzinga.com/quote/FUSN/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>BTIG boosted the price target for Organogenesis Holdings Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/orgo#NASDAQ">ORGO</a>) from $4 to $6. BTIG analyst Ryan Zimmerman maintained a Buy rating. Organogenesis shares gained 0.3% to close at $3.97 on Tuesday. <a href="https://www.benzinga.com/quote/ORGO/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Canaccord Genuity boosted the price target for Aspen Aerogels, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/aspn#NYSE">ASPN</a>) from $13 to $17. Canaccord Genuity analyst George Gianarikas maintained a Buy rating. Aspen Aerogels shares gained 4.6% to close at $16.09 on Tuesday. <a href="https://www.benzinga.com/quote/ASPN/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Wedbush increased Pinterest, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/pins#NYSE">PINS</a>) price target from $32 to $35. Wedbush analyst Scott Devitt maintained a Neutral rating. Pinterest shares fell 0.6% to close at $37.16 on Tuesday. <a href="https://www.benzinga.com/quote/PINS/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>BTIG boosted the price target for Expedia Group, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/expe#NASDAQ">EXPE</a>) from $150 to $175. BTIG analyst Jake Fuller maintained a Buy rating. Expedia shares fell 1.4% to close at $153.14 on Tuesday. <a href="https://www.benzinga.com/quote/EXPE/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>B of A Securities slashed the price target for Bristol-Myers Squibb Company (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bmy#NYSE">BMY</a>) from $72 to $68. B of A Securities analyst Geoff Meacham maintained a Buy rating. Bristol-Myers Squibb shares fell 1.6% to close at $51.45 on Tuesday. <a href="https://www.benzinga.com/quote/BMY/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Wedbush raised Meta Platforms, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/meta#NASDAQ">META</a>) price target from $350 to $420. Wedbush analyst Scott Devitt maintained an Outperform rating. Meta shares rose 0.4% to close at $354.83 on Tuesday. <a href="https://www.benzinga.com/quote/META/analyst-ratings">See how other analysts view this stock.</a></li>
<li>TD Cowen cut Milestone Pharmaceuticals Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mist#NASDAQ">MIST</a>) price target from $17 to $9. TD Cowen maintained an Outperform rating. Milestone Pharmaceuticals shares fell 30.9% to close at $1.99 on Tuesday. <a href="https://www.benzinga.com/quote/MIST/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Stifel boosted Global Partners LP (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/glp#NYSE">GLP</a>) price target from $40 to $44. Stifel analyst Selman Akyol maintained a Buy rating. Global Partners shares fell 1.1% to close at $42.21 on Tuesday. <a href="https://www.benzinga.com/quote/GLP/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Wedbush boosted MercadoLibre, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/meli#NASDAQ">MELI</a>) price target from $1,700 to $1,800. Wedbush analyst Scott Devitt maintained an Outperform rating. MercadoLibre shares fell 0.8% to close at $1,576.64 on Tuesday. <a href="https://www.benzinga.com/quote/MELI/analyst-ratings">See how other analysts view this stock.</a></li>
</ul>
&nbsp;
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Stifel analyst Selman Akyol maintains Global Partners (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLP#NYSE">GLP</a>) with a Buy and raises the price target from $40 to $44.

Stifel Maintains Buy on Global Partners, Raises Price Target to $44

<h3>What is a Value Stock?</h3>
A value stock is traditionally defined in terms of how investors in the marketplace are valuing that company's future growth prospects. Low P/E multiples are good base indicators that the company is undervalued and can most likely be labelled as a value stock. 
<h2>The following stocks are considered to be notable value stocks in the energy sector:</h2>
<ol>
<li>Callon Petroleum (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CPE#NYSE">CPE</a>) - P/E: 2.92</li>
<li>Smart Sand (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SND#NASDAQ">SND</a>) - P/E: 6.27</li>
<li>Chesapeake Energy (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHK#NASDAQ">CHK</a>) - P/E: 2.03</li>
<li>Diamondback Energy (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FANG#NASDAQ">FANG</a>) - P/E: 8.48</li>
<li>Global Partners (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLP#NYSE">GLP</a>) - P/E: 9.95</li>
</ol>
This quarter, Callon Petroleum experienced a decrease in earnings per share, which was $1.99 in Q2 and is now $1.82. Smart Sand saw an increase in earnings per share from 0.17 in Q2 to $0.18 now. Chesapeake Energy has reported Q3 earnings per share at $1.09, which has increased by 70.31% compared to Q2, which was 0.64. Most recently, the company reported a dividend yield of 0.42%, which has decreased by 2.27% from last quarter's yield of 2.69%.
This quarter, Diamondback Energy experienced an increase in earnings per share, which was $3.68 in Q2 and is now $5.49. Global Partners has reported Q3 earnings per share at $0.6, which has decreased by 42.86% compared to Q2, which was 1.05. Its most recent dividend yield is at 9.28%, which has increased by 0.95% from 8.33% in the previous quarter.
These 5 value stocks were selected by Benzinga Insights based on quantified analysis. While this methodical judgment process is not meant to make final decisions, our technology can give investors additional perception into the sector.

FANG

5 Value Stocks To Watch In The Energy Sector

<h3>The Meaning Behind Value Stocks</h3>
A value stock is traditionally defined in terms of how investors in the marketplace are valuing that company's future growth prospects. Low P/E multiples are good base indicators that the company is undervalued and can most likely be labelled as a value stock. 
<h2>The following stocks are considered to be notable value stocks in the energy sector:</h2>
<ol>
<li>ProPetro Holding (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PUMP#NYSE">PUMP</a>) - P/E: 8.09</li>
<li>YPF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YPF#NYSE">YPF</a>) - P/E: 9.42</li>
<li>Global Partners (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLP#NYSE">GLP</a>) - P/E: 9.55</li>
<li>Baytex Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BTE#NYSE">BTE</a>) - P/E: 3.6</li>
<li>Sunoco (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SUN#NYSE">SUN</a>) - P/E: 9.45</li>
</ol>
This quarter, ProPetro Holding experienced a decrease in earnings per share, which was $0.34 in Q2 and is now $0.31. YPF has reported Q3 earnings per share at $-0.33, which has decreased by 140.24% compared to Q2, which was 0.82. The company's most recent dividend yield sits at 1.0%, which has increased by 0.47% from 0.53% last quarter. 
This quarter, Global Partners experienced a decrease in earnings per share, which was $1.05 in Q2 and is now $0.6. Most recently, the company reported a dividend yield of 9.28%, which has increased by 0.95% from last quarter's yield of 8.33%.
This quarter, Baytex Energy experienced a decrease in earnings per share, which was $0.27 in Q2 and is now $0.11. Most recently, the company reported a dividend yield of 3.74%, which has decreased by 5.66% from last quarter's yield of 9.4%.
Most recently, Sunoco reported earnings per share at $2.95, whereas in Q2 earnings per share sat at $0.78. The company's most recent dividend yield sits at 6.61%, which has decreased by 0.89% from 7.5% last quarter. 
The Significance: A value stock may need some time to rebound from its undervalued position. The risk of investing in a value stock is that this emergence may never materialize.

PUMP

A Look Into Energy Sector Value Stocks

Global Partners LP Agrees To Acquire 25 Liquid Energy Terminals From Motiva Enterprises LLC For $305.8M In Cash

Global Partners (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLP#NYSE">GLP</a>) reported quarterly earnings of $0.60 per unit. This is a 80.77 percent decrease over earnings of $3.12 per unit from the same period last year. The company reported quarterly sales of $4.22 billion which missed the analyst consensus estimate of $4.26 billion by 1.03 percent. This is a 8.80 percent decrease over sales of $4.63 billion the same period last year.

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