Royal Dutch Shell Not Aiming for CVR Energy
Speculation in the market suggests that a company like CVR Energy could be in play, especially after activist investor Carl Icahnannounced a stake in the company.
But if you’re thinking that Royal Dutch could be a potential buyer, think again.
CEO Peter Voser tells us that he’s not in the market for mid-continent refiners. “We are not in the acquiring phase of refining,” he says during a live interview on Halftime.
And after the broadcast Fast Money trader Joe Terranova tells us he found the commentary significant, because there aren’t that many companies that could afford to acquire CVR.
"Whos going to buy?" shrugs the top energy trader.
That's not to say Terranova doesn’t like the stock – he does, just not as a takeout target. “CVR is well positioned," he adds. "I’m a buyer. Mid continent refiners are in the sweet spot.”
The Fast traders also found another comment made by Voser trade-worthy.
Voser says that nat gas is a growing part of the company’s strategy in the coming years. “We have a break through project in Qatar,” he says. “We are looking at what we can do with gas.”
(Shell has spent $20 billion onPearl, a plant to convert natural gas into liquid fuels.)
Trader Brian Kelly believes the commentary is another sign that nat gas will be the energy of the future.
“I’d play it with Navistar,” he says. “They’re converting trucks so they can run on nat gas.”
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Trader disclosure: On March 7, 2012, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders: Terranova is short GOOG; Terranova is short April gold futures; Terranova is short May silver futures; Terranova is long VRTUS; Terranova is long NXPI; Terranova is long IBM; Terranova is long MCD; Terranova is long LQD; Terranova is long EMC; Terranova is long MSFT; Terranova is long GS; Terranova is long JOY; Terranova is long OXY; Cortes is long SO; Cortes is short Aussie dollar; Cortes is short XHB vs. S&P long; Cortes is short SOXX; Cortes is short FXI; Kelly is long IWM; Kelly is long KRE; Kelly is long SMH; Kelly is long SPY; Kelly is long TLT; Kelly is long USG; Kelly is long QQQ calls; Kelly is long FTSE 100; Kelly is long Eurostoxx50; Kelly is short Yen; Kelly is short EWA; Kelly is short EWC ; Kelly is short EWY; Doolittle is long TYP; Doolittle is long GLL; Doolittle is long ZSL; Doolittle is long FAZ; Grasso is long LVS
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