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JP Morgan's integrated oil and refining analyst Phil Gresh updated his refining forecasts Tuesday, citing a long list of bullish trends, while flagging recession risk. Phil sees current margins normalizing to nearer historic averages in 2023, but says a bad hurricane season could lead to "run...
Shares of Valero Energy Corporation (NYSE:VLO) traded today at $131.69, eclipsing its 52-week high. Approximately 1.5 million shares have changed hands today, as compared to an average 30-day volume of 5 million shares. Valero Energy Corporation (NYSE:VLO) defies analysts with a current ...
The ETF could outperform the market during an economic downturn. Smart Beta strategies confirm this. Higher inflation and rising long-term interest rates are likely to prompt some risk-aversion. SPYD has high exposure to financials and defensives such as consumer staples and healt...
Over the past month, energy commodity prices built on year-to-date gains. However, not all energy equities participated, and the laggards could surprise market observers. Brent oil (CO1:COM) rose 2% over the past month and is up ~46% ytd. US natural gas (NG1:COM) prices rose 9% over the past ...
Energy (NYSEARCA:XLE) is easily the leading S&P industry sector in Monday's trading, +3.6% as it enjoys support from rising WTI crude oil prices to a fresh high for the month and U.S. gasoline futures topped $4/gallon for the first time ever. "The stronger [oil] products get, the more opt...
Darling Ingredients has started the year on a solid note. The company has seen excellent momentum and issued a comforting guidance for the year. After a 1 billion deal late in 2021, the next substantial bolt-on deal has already been announced, supported by the strong profitability...
Oil and gas are at the forefront of rising prices. YTD, the Energy Sector (XLE) is +40%, and high-yielding stocks may offset some of the pain at the pump. As a percentage of the S&P 500 market capitalization, energy is 60% lower in 2022, than it was in 2000. The entire sector migh...
This week's DOE inventory updated showed a surprise build in oil and oil product inventories (USO). TSA checkpoint data pointed to rising passenger volumes, up 3% week on week but down ~11% from 2019 levels (JETS). Gasoline and diesel prices hit all time highs nationwide in the US this week. ...
Consumers watched as prices at the pump hit all-time highs nationwide this month. As prices rose (USO), the House summoned oil executives to Washington, citing market manipulation and price gouging. The Senate moved on legislation to sue OPEC over anti-trust violations. However, in an intervi...
House Speaker Pelosi said Thursday that Democrats will present a bill on gasoline price gouging next week. The bill will enable the President to issue emergency declarations making it illegal to increase gasoline prices, according to Bloomberg Energy reporter Javier Blas: Recent effort...
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2024-07-12 08:00:14 ET Paul Cheng from Scotiabank issued a price target of $173.00 for VLO on 2024-07-12 07:22:00. The adjusted price target was set to $173.00. At the time of the announcement, VLO was trading at $146.64. The overall price target consensus is at $143.82 ...
2024-07-12 07:30:08 ET Wells Fargo analyst issues EQUAL-WEIGHT recommendation for VLO on July 12, 2024 05:55AM ET. The previous analyst recommendation was Equal-Weight. VLO was trading at $146.64 at issue of the analyst recommendation. The overall analyst consensus : BUY...
2024-07-12 07:00:08 ET Roger Read from Wells Fargo issued a price target of $156.00 for VLO on 2024-07-12 05:55:00. The adjusted price target was set to $156.00. At the time of the announcement, VLO was trading at $146.64. The overall price target consensus is at $146.36...