Resources v Industrials – a Growth vs Value conundrum

Anton Tagliaferro

The significant outperformance of Resources over Industrials since February 2016, is a major factor contributing to the recent underperformance of Value managers like IML, compared to Growth and Momentum strategies which I discussed in a recent wire. Show More


What Mattered Today; We’ve developed a very special bond…says Trump!

James Gerrish

The central focus today was the much anticipated – talked about – on / off meeting between Mr Trump and the North Korean Dictator Kim Jong-un. The meeting started this morning and went over lunch culminating with the signing of some agreement – the details of which remain scarce, although... Show More


Caltex: Shrink to grow

Sam Dyson

Investors love companies that can deploy capital at high returns over a long period of time. However, great shareholder returns can also be achieved from companies that shrink their capital base. Take Caltex for example. Show More


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Caltex Australia Limited (ASX: CTX)

Leyland Private Asset Management

Caltex Australia Limited is the leading provider of transport fuels in Australia, providing about 20% of the total fuel market. In addition to being a vertically integrated supplier of fuel, Caltex operates Australia’s largest convenience retail network of fuel and convenience sites trading under the Star Mart brand; with more... Show More

australian equities ASX:CTX

What Mattered Today: Poor old Myer

James Gerrish

A very negative day really in terms of price action (not so much aggregate move) with the index up strongly early to make a new 5 year high before sellers dominated from 11.30am onwards following stronger than expected employment numbers. The unemployment rate was inline (5.4%) however participation was very... Show More


Ten favoured stocks for 2018

Peter Quinton

After examining all of our analysts’ buy-rated stocks with a market capitalisation above $1.0 billion, we have identified ten of them which we particularly like over the next 12 months or so for private clients: Show More

The Case for Owning Quality Stocks Now

Andrew Zenonos

It is no secret that investing in high quality stocks for the long term is a good investment strategy. Russell Investments believes that a premium for high quality stocks exists, in that they will outperform low quality stocks over the long term. We believe that this anomaly exists as investors... Show More


Where to find opportunities in large companies

Clime Asset Management

There is so much confusion about the stocks in the ASX’s large-caps index, the ASX 50. Some investors see them as ‘blue-chips’ by virtue of their size and longevity, and thus see them as long-term portfolio holds. Others think the ASX 50 is largely useless: a motley, concentrated index of... Show More

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Buy Hold Sell: 5 stocks with sustainable yield

Buy Hold Sell

High dividends often steal the limelight, but as holders of Telstra have recently learned, a sustainable dividend is every bit as important. This week’s Buy Hold Sell features Vince Pezzullo from Perpetual and Matthew Haupt from Wilson Asset Management. Show More


Unsung heroes of the income investor

Livewire Exclusive

Woolworths, BHP, and Telstra have cut dividends in recent years, and the long-term sustainability of dividends from other leading stocks is under scrutiny. So Livewire asked three experts to share an example of a company that offers diversification away from ‘traditional’ income stocks - and provides a sustainable yield. Read... Show More

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First Impressions from Reporting: CTX, SCO, DOW

Bell Potter

In this daily reporting season update, we provide first impressions on key takeouts from companies reporting today, including Caltex Australia (CTX), Scottish Pacific Group (SCO) and Downer EDI (DOW) with links through to more detailed reports. Show More

ASX:CTX ASX:DOW ASX:SCO August 2017 Reporting Season

Caltex Australia Half Year Result: CTX profits lift on recovery of its refining margins


 Fuel supplier and retailer, Caltex (CTX) posted a 21% lift in Replacement Cost Operating Profit (RCOP) to $307m for the six months ended 30 June 2017. This was at the top-end of guidance provided 22 June 2017 by the company of between $290m - $310m and largely in-line with... Show More

Caltex ASX:CTX Steven Daghlian August 2017 Reporting Season

Caltex Australia Limited (ASX:CTX)

Leyland Private Asset Management

Caltex is the leading provider of transport fuels in Australia, providing about 20% of the total fuel market. In addition to being a vertically integrated supplier of fuel, Caltex operates Australia's largest convenience retail network of fuel and convenience sites trading under the Star Mart brand; with more than 620... Show More

australian equities ASX:CTX

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Sunset Strip > Trading Day Wrap From Blue Ocean 20170620

Mathan Somasundaram

Local market finished negative with Asian markets as the bank ratings downgrade hit home despite positive US markets. The best performing sectors were Retail, Information Technology and Materials while the worst performers were Gold, Property Trusts and Energy. AUDUSD fell below 76 cents on bank downgrade but weaker USD has... Show More

Sunset Strip > Trading Day Wrap From Blue Ocean 20170619

Mathan Somasundaram

Local market finished positive on the back of firmer commodities and AUDUSD. Banks ran on the currency and Miners recovered on the commodities. The best performing sectors were Utilities, Financials and Industrials while the worst performers were Staples, Energy and Retail. Amazon having a play at Whole Foods is rattling... Show More

Will electric vehicles ‘save’ energy network companies from the death spiral?

Alison George

Don’t let some of the commentary from the Energy Markets 2016 conference fool you; the ‘death spiral’ remains a key risk to energy network companies. With the cost of solar with battery storage rapidly decreasing, opting out of the grid has never been more attractive. Show More

Value the market loves to hate

UBS Asset Management

Below we discuss 3 high conviction undervalued opportunities which we believe are fairly unique holdings particularly together in the same portfolio. All are cheap according to our conservative, sensitivity tested and mid-cycle anchored DCF. In addition, we believe fundamental industry economic risks are to the upside. Show More


A high-quality, undervalued infrastructure network

UBS Asset Management

We continue to like Caltex Australia. Transport fuel earnings will continue to grow due to the continued shift to premium fuels (i.e. more European cars and the greater penetration of diesel passenger vehicles), growth in non-fuels convenience and a general increase in pricing to reflect a return on the store... Show More


Caltex Full Year Result - CTX profits slide as oil refining business under pressure


Caltex (CTX) posted a full year profit result which was a little ahead of market consensus and above the company’s own guidance provided in December. The result was boosted most by a strong performance from its core Supply & Marketing business. Net profit rose by ~17% to $610m for the... Show More

Caltex ASX:CTX Caltext February 2017 Reporting Season

Caltex Australia, Oil Search, Scentre Group and FlexiGroup - First Impressions from reporting

Bell Potter

Caltex Australia (CTX): Lytton EBIT of A$205m as compared to $406m pcp-slightly ahead of pre-guidance and our estimate of A$200m) Full year sales from production increased 14% to 6.2 BL | S&M EBIT up 5.6% to A$709m ahead of guidance (A$700m)- Excluding unfavourable externalities of $29 million, Supply and Marketing... Show More

ASX:CTX ASX:FXL ASX:OSH Longform ASX:SCG February 2017 Reporting Season