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Blue Dolphin Energy Company
(OTC:BDCO)
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Rating:70Outperform
Price Target:
$13.00
▲(70.60% Upside)
Action:Upgraded
Date:09/22/26
BDCO scores solidly due to a meaningful TTM financial rebound (restored profitability, improved leverage, and strong free cash flow conversion) and strong technical uptrend with supportive momentum. The score is tempered by the company’s historically volatile earnings/cash-flow profile, while valuation (low P/E) provides an additional boost.
Positive Factors
Revenue and Profitability Rebound
The sharp TTM recovery shows that BDCO can convert improved operating conditions into renewed revenue and profitability. If sustained, the rebound can rebuild retained capital, support reinvestment in refining and logistics assets, and strengthen earnings capacity over the next several quarters.
Negative Factors
Volatile Earnings History
The latest improvement has not yet established a consistent earnings trend because BDCO moved from profitability in 2022–2023 to shrinking revenue and net losses in 2024–2025. This history suggests that earnings power remains vulnerable to operating-cycle changes over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue and Profitability Rebound
The sharp TTM recovery shows that BDCO can convert improved operating conditions into renewed revenue and profitability. If sustained, the rebound can rebuild retained capital, support reinvestment in refining and logistics assets, and strengthen earnings capacity over the next several quarters.
Read all positive factors
Blue Dolphin Energy Company (BDCO) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$204.58M
Dividend YieldN/A
Average Volume (3M)54.84K
Price to Earnings (P/E)7.7
Beta (1Y)-1.06
Revenue Growth22.80%
EPS GrowthN/A
CountryUS
Employees112
SectorEnergy
Sector Strength52
IndustryOil & Gas Refining & Marketing
Share Statistics
EPS (TTM)1.77
Shares Outstanding14,921,968
10 Day Avg. Volume26,005
30 Day Avg. Volume54,837
Financial Highlights & Ratios
PEG Ratio0.11
Price to Book (P/B)0.77
Price to Sales (P/S)0.08
P/FCF Ratio-27.20
Enterprise Value/Market Cap0.30
Enterprise Value/Revenue0.17
Enterprise Value/Gross Profit1.29
Enterprise Value/Ebitda1.49
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Blue Dolphin Energy Company Business Overview & Revenue Model
Company Description
Blue Dolphin Energy Company specializes in the refinement and distribution of petroleum products across the United States. The firm's activities are divided into two core segments: Refinery Operations, and Tolling and Terminaling. Through its Refi...
How the Company Makes Money
BDCO makes money primarily by earning a “crack spread” margin: it purchases crude oil and other feedstocks, processes them through its refining operations, and sells higher-value refined products (e.g., gasoline and other transportation/industrial...
Blue Dolphin Energy Company Financial Statement Overview
Summary
Income Statement
68
Positive
Balance Sheet
58
Neutral
Cash Flow
73
Positive
| Breakdown | TTM | Mar 2026 | Mar 2025 | Dec 2023 | Mar 2023 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 364.86M | 279.38M | 317.52M | 396.05M | 487.50M | 300.82M |
| Gross Profit | 47.65M | 8.38M | 3.89M | 44.68M | 46.07M | 914.00K |
| EBITDA | 41.31M | 1.35M | -1.29M | 39.49M | 41.88M | -3.86M |
| Net Income | 26.34M | -5.60M | -8.64M | 31.01M | 32.89M | -19.04M |
Balance Sheet | ||||||
| Total Assets | 130.31M | 107.54M | 101.90M | 106.08M | 83.90M | 66.31M |
| Cash, Cash Equivalents and Short-Term Investments | 30.90M | 1.01M | 266.00K | 18.71M | 630.00K | 119.00K |
| Total Debt | 38.53M | 47.77M | 45.92M | 48.49M | 49.84M | 64.20M |
| Total Liabilities | 70.49M | 71.71M | 68.93M | 64.48M | 73.32M | 89.94M |
| Stockholders Equity | 59.83M | 27.36M | 32.96M | 41.60M | 10.59M | -23.63M |
Cash Flow | ||||||
| Free Cash Flow | 41.50M | -779.00K | -15.72M | 19.90M | 16.17M | -6.06M |
| Operating Cash Flow | 41.62M | -766.00K | -15.67M | 20.00M | 16.27M | -6.06M |
| Investing Cash Flow | -116.00K | -13.00K | -46.00K | -102.00K | -102.00K | 0.00 |
| Financing Cash Flow | -11.57M | 1.74M | -1.92M | -2.71M | -14.71M | 5.00M |
Blue Dolphin Energy Company Technical Analysis
Positive
7.62
Price Trends
9.80
Positive
6.85
Positive
4.52
Positive
Market Momentum
0.71
Positive
55.54
Neutral
86.23
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For BDCO, the sentiment is Positive. The current price of 7.62 is below the 20-day moving average (MA) of 13.93, below the 50-day MA of 9.80, and above the 200-day MA of 4.52, indicating a neutral trend. The MACD of 0.71 indicates Positive momentum. The RSI at 55.54 is Neutral, neither overbought nor oversold. The STOCH value of 86.23 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for BDCO.
Blue Dolphin Energy Company Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
70 Outperform | $204.58M | 7.75 | 66.65% | ― | 22.80% | ― | |
70 Outperform | $4.10B | 4.72 | 57.75% | ― | 13.19% | ― | |
65 Neutral | $15.17B | 7.61 | 4.09% | 5.20% | 3.87% | -62.32% | |
63 Neutral | $1.68B | 10.01 | 24.61% | 6.20% | 20.35% | 87.03% | |
58 Neutral | $768.26M | -59.42 | 8.43% | 4.89% | ― | ― | |
57 Neutral | $816.91M | 15.07 | -72.93% | 9.81% | 0.29% | 21.69% | |
55 Neutral | $1.86B | -11.38 | -13.21% | 2.36% | 7.56% | 58.21% |
* Energy Sector Average
BDCO
Blue Dolphin Energy Company
13.71
12.26
845.52%
GLP
Global Partners
49.37
6.98
16.46%
WKC
World Kinect
36.41
12.03
49.34%
CAPL
Crossamerica Partners
21.40
3.32
18.38%
PARR
Par Pacific Holdings
81.89
46.23
129.64%
APC
ARKO Petroleum Corp. Class A
16.15
-0.71
-4.23%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.