Oil-refineries
What companies should you buy?
Free-cash-flow yield = Free cash flow / ( market cap + long term debt ) * 100%
In terms of Free-cash-Flow margin there are several good companies in the sector: PSX, VLO, DK, NOV, MPC and HFC. But in terms of favorable inexpensive valuation I only like PSX and HFC.
In conclusion, I add to my Watch List two stocks: PSX and HFC.
Overview of the oil-refinery sector, updated on 10 January 2019
