MarketBeat
03 Oct 2026, 02:02 UTC · 2h ago
Ultrapar Maps Growth Strategy, Capital Discipline at Ultra Day
Impact · against what's priced in
Ultrapar's reduced leverage and specific cost-reduction targets in LPG provide new catalysts for capital return and margin expansion. For Chevron, the mention of its ICONIC joint venture is immaterial as the valuation is driven by massive upstream integrations and refining margins.
- CVX+0.00
Doesn't touch the price's assumptions
- The price assumes
Sustained elevated refining margins (cracks) post-conflict
Expanding the customer base of the ICONIC lubricants joint venture in Brazil is negligible compared to the primary value drivers of Hess integration and global refining margins.
What CVX's price assumes · Aug 26
