$DAR

6 stories mentioning DARUpdated 3d ago

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Renewable Fuel Stocks Fall 5.8%, RNG Firms Lead Sector Lower, TPH Energy Says

Renewable fuel equities dropped 5.8% last week, trailing the S&P 500's 0.6% decline, even as crude oil prices moved higher, according to TPH Energy Research in a Monday note.Renewable natural gas stocks led the sector lower, with OPAL Fuels (OPAL) falling 12.6% and Clean Energy Fuels (CLNE) declining 14.7%. TPH Energy also lowered its Q2 outlook for OPAL.Neste lost 2.6% after posting Q2 results that broadly matched market expectations, while Bunge (BG) gained 2% to outperform the renewable fuels group, according to the note.Renewable diesel margins moved in different directions as higher diesel prices offset weaker Renewable Identification Number values. Lower feedstock costs lifted renewable diesel tallow margins by 64 cents per gallon, while corn oil and used cooking oil margins fell 12 cents/gal and 6 cents/gal, respectively.RNG indicators declined by $1 per million British thermal units as weaker D3 RIN prices weighed on the market. Midwest ethanol margins also slipped 4 cents/gal because corn costs increased, the note said.Soybean crushing economics changed little over the week as stronger soybean oil prices balanced higher soybean costs, leaving overall crush margins largely unchanged, according to the note.Notable developments over the last week included US lawmakers introducing legislation to broaden the definition of renewable biomass to include woody materials.Separately, Louis Dreyfus doubled the capacity of its canola crushing plant in Yorkton, Saskatchewan, the note said.Paraguay lowered its biodiesel blending mandate back to 7% from 8% only four days after raising it, while a new 25% tariff took effect on Brazilian tallow exports.Attention now shifts to second-quarter earnings from Bunge and Darling Ingredients (DAR) this week, TPH added.Price: $2.23, Change: $+0.02, Percent Change: +0.68%

$BG$CLNE$DAR$OPAL

Commodities17d ago

Renewable Fuel Equities Advance as US-Iran Tensions Boost RD Margins, TPH Says

Renewable diesel margins climbed to five-year highs as renewed US-Iran conflict lifted fuel markets, although higher feedstock costs pressured ethanol and soy crush economics, TPH Energy Research strategists said in a Monday note.Renewable fuel stocks gained 3.4% last week, outperforming the S&P 500's 1.2% rise, according to TPH.Green Plains (GPRE) advanced 8.9%, Darling Ingredients (DAR) gained 7.6%, and Bunge Global (BG) added 7.4%, while Aemetis (AMTX) fell 3.0% and Montauk Renewables (MNTK) declined 4.7%, the firm said.Higher diesel prices and stronger D4 Renewable Identification Number values lifted renewable diesel indicators by 34 cents to 75 cents per gallon, with renewable diesel margins based on corn oil and white grease reaching fresh five-year highs, TPH Energy said.A bullish World Agricultural Supply and Demand Estimates report pushed corn and soybean prices higher, reducing Midwest ethanol margins by 10 cents per gallon and soy crush margins by $5 per metric ton.Among renewable fuel companies, only Neste, Clean Energy Fuels (CLNE), Montauk Renewables, OPAL Fuels (OPAL) and Green Plains traded below their respective three-year forward enterprise value-to-earnings before interest, taxes, depreciation and amortization averages, TPH Energy said.Price: $17.60, Change: $+0.70, Percent Change: +4.17%

$AMTX$BG$CLNE$DAR$GPRE$MNTK$OPAL

Commodities20d ago

Renewable Fuel Investors Upbeat as Tighter US Biofuel Mandates Lift Outlook, TPH Says

Investors focused on renewable fuels are becoming more optimistic about the sector after the US Environmental Protection Agency's proposed 2026 biofuel blending requirements tightened the market for renewable fuel credits, TPH Energy Research analyst Matthew Blair said in a note on Friday.The improved sentiment has been driven largely by stronger prices for Renewable Identification Numbers, the tradable credits used to comply with the federal Renewable Fuel Standard.Tighter supplies of the credits have improved profit margins for renewable diesel producers, soybean processors, and ethanol makers, Blair said, adding that the D4 RIN credit prices may need to rise further to encourage additional imports of renewable fuels into the US. D4 RINs are credits primarily used for biomass-based diesel.Investors also question whether the Trump administration could grant a waiver to reduce or suspend Renewable Fuel Standard requirements, but Blair said any such action is unlikely.Among publicly traded companies, Blair said investors show the greatest interest in Darling Ingredients (DAR), Bunge Global (BG) and Archer-Daniels-Midland (ADM), as well as ethanol producer Green Plains (GPRE).Price: $60.41, Change: $+0.22, Percent Change: +0.37%

$ADM$BG$DAR$GPRE

Research38d ago

Barclays Initiates Darling Ingredients at Equalweight With $58 Price Target

Darling Ingredients (DAR) has an average rating of buy and mean price target of $76.57, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)

$DAR

Commodities69d ago

D4 RIN Production Rises in April but Still Misses 2026 Target Pace, TPH Energy Says

D4 renewable fuel credit production rose in April, though output still trails the pace needed to meet 2026 renewable fuel targets, TPH Energy said Friday.April D4 RIN generation rose to 422 million from 399 million in March and 363 million a year earlier, while domestic supply made up 100% of sourcing for the second straight month, TPH Energy said.In April, renewable diesel accounted for 64% of the fuel mix, down from 65% in March, according to TPH Energy.Biodiesel accounted for 31% of the April mix, up from 29% in March, while sustainable aviation fuel represented 5%, down from 6% a month earlier.Renewable diesel utilization climbed to 72% in April from 69% in March, while biodiesel utilization increased to 79% from 72% over the same period, according to TPH Energy.TPH Energy estimates combined D4-D5-D6 RIN generation will reach 21.63 billion in 2026 after year-to-date growth of only 6%, well below the Renewable Volume Obligation target of 25.45 billion.Even if all US renewable diesel and biodiesel capacity operates at full rates for the rest of 2026, total D4-D5-D6 generation would still reach only 24.20 billion, missing the target by 5%, TPH Energy said.Overall, TPH Energy said the trends remain positive for US renewable diesel producers such as Darling Ingredients (DAR), as well as for feedstock suppliers Archer-Daniels-Midland (ADM) and Bunge Global (BG).D3 RIN generation rose to 118 million in March from 109 million in February and 99 million a year earlier, while year-to-date growth of 27% puts projected 2026 generation at 1.39 billion versus the 1.36 billion mandate, the report said.Price: $58.01, Change: $+0.15, Percent Change: +0.26%

$ADM$BG$DAR

Commodities71d ago

California LCFS Market Staying in Deficit Through Q1 2026, TPH Says

California's Low Carbon Fuel Standard market remained in deficit in Q4 2025 and will likely stay undersupplied in Q1 2026 as renewable diesel supply weakens and compliance targets tighten, TPH Energy Research strategists said in a Wednesday note.The California LCFS market remained in deficit for a second straight quarter in Q4 2025, with the credit-deficit spread at negative 1.9 million metric tons versus negative 1.7 mmt in Q3.The report said the credit bank declined to 379 days of demand in Q4 from 380 days in Q3 and was sharply below 636 days in Q2.Deficit generation eased 4% over the quarter to 9.6 mmt in Q4 as gasoline deficits declined 2% to 8.4 mmt on weaker seasonal demand patterns, TPH said.Petroleum diesel deficits dropped 18% over the quarter to 900,000 mt as renewable diesel blending increased and total diesel demand fell 8% both sequentially and over the year, according to the report.TPH said total credit supply declined 7% over the quarter to 7.8 mmt, largely due to a 400,000 mt decline in administratively adjusted credits.Sustainable aviation fuel credits climbed 30% to 200,000 mt on 33 million gallons of consumption, which TPH estimated represented roughly 3% of California jet fuel demand.TPH said renewable diesel credit generation slipped 1% over the quarter to 2.5 mmt in Q4 as volumes declined 2% to 530 million gallons.The report said California's renewable diesel blend rate rose to 62% from 58% despite higher soybean and canola feedstock usage, which increased to 40% from 33%.Electricity credits increased 2% to 2.5 mmt in Q4, while renewable natural gas credits fell 8% to 2 mmt as lower dairy RNG usage weakened carbon intensity scores, TPH said.TPH said California's Low Carbon Fuel Standard market will likely remain in deficit in Q1 2026, with the credit-deficit spread projected at negative 1.8 mmt.TPH expects renewable diesel supply into California to weaken after US renewable diesel utilization dropped to 54% in Q1 from 67% in Q4, according to the report.The firm estimated US renewable diesel production plus net imports at 550 million gallons in Q1, down from 705 million gallons in Q4, according to the report.TPH also forecasts California renewable diesel volumes will decline to 474 million gallons in Q1 from 530 million gallons in Q4, reducing credit generation.The report said rising vegetable oil usage will slightly worsen carbon intensity scores and lower renewable diesel credits by about 300,000 mt in Q1.California's LCFS program will tighten its 2026 compliance benchmark to negative 24.20% from negative 22.75% in the second half of 2025 and negative 13.75% in the first half of 2025, TPH said.TPH estimated that the tougher compliance target will reduce market supply-demand balances by roughly 1 mmt, although electricity and sustainable aviation fuel credits may partly offset the decline.The firm forecast the inventory bank will fall to 353 days of supply in Q1 and said higher LCFS prices near $66 per metric ton versus $55/mt at the start of the year should benefit Buy-rated Clean Energy Fuels (CLNE) and Darling Ingredients (DAR).Price: $1.99, Change: $-0.01, Percent Change: -0.35%

$CLNE$DAR

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