Besides that, Murphy Oil Corporation (NYSE:MUR) also has a $1 billion share repurchase program which would be carried out in installments of $250 million each. Until now, the company has repurchased $250 million worth of its shares, and recently authorized another round of buybacks (worth $250 million). Altogether, this accounts to pending share repurchases of 12.1 million shares (6.3% of shares outstanding), which should boost its dividend yield to nearly 2.20%.
In my opinion, all three companies would make for great investments. Each of them have enough positive catalysts to power up their stocks. But it’s worth mentioning that Marathon Petroleum Corp (NYSE:MPC) is more of a growth pick, unlike Valero Energy Corporation (NYSE:VLO)or Murphy Oil Corporation (NYSE:MUR) which appear to be solid value plays.
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Piyush Arora has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned.
The article A Few Reasons Why This Refiner Should Continue to Soar originally appeared on Fool.com.
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