Andeavor (ANDV)

(Market Call Minute.) Model price is $60.11. Almost a 90% positive differential. Think it's at the bottom.

A good name, but now is not the time for refining stocks. There has been a real compression in the cracking spread and this is what really impacts margins. The best time to buy is in the run-up prior to the driving season.

Refining. Cheapest metrics. Levered to transportation on west coast in US. Recently bought at $58.10.

Despite the world's increasing production of oil, the one bottle neck is refining capacity. This is a pure play on refining. Margins are wonderful right now. They are generating so much cash, that the debt is melting away.

Hates this company. Only up because of the high price of energy. Has shorted in the past.