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Summer is here. And if you're like me, that means road trips with the family. But this year's summer vacation may come with some sticker shock. AAA reports that the national average for a gallon of gas is $5.01. In Illinois, Nevada, and Oregon, you should expect to pay over $5.50. And in ...
The oil and gas sector (NYSEARCA:XLE) lost the most ground among S&P sectors in Wednesday's trading, as crude oil futures fell to two-week lows on concerns about demand and the Federal Reserve's aggressive rate hikes. Energy stocks sold off sharply after the Federal Reserve raised interes...
Late Wednesday, Exxon (XOM) responded to Biden's letter requesting solutions to the ongoing oil refining crisis. In the short term, "the US government could enact measures often used in emergencies following hurricanes or other supply disruptions -- such as waivers of Jones Act provisions and...
Valero Energy Corporation (NYSE: VLO) announced today that it will host a conference call on July 28, 2022 at 10:00 a.m. ET to discuss second quarter 2022 earnings results, which will be released earlier that day, and provide an update on company operations. Persons interested in li...
Soaring oil and gas prices are causing a lot of pain at the pump for consumers in the U.S. and around the world. For Chevron (NYSE: CVX) and other oil giants, however, the tight energy market has brought a big boost in profits and impressive share-price gains. President Joe Bide...
The President penned a letter to energy executives Wednesday, acknowledging the global refining capacity shortage, and asking for help. On the President's numbers, ~3.0mb/d of refining capacity has shuttered since the beginning of the pandemic. With demand for gasoline and diesel recovering, ...
BMO initiated coverage of the "big 3" US refiners Tuesday, capturing all the well-understood themes in the sector. Rebounding demand, paired with reduced supply has resulted in elevated margins -- BMO sees the large-cap refiners trading at 6.2x 2022 earnings. The bank notes that "valuation is...
Wells Fargo analyst Roger Read has been bullish on the refining sector since late 2021; with Tuesday's upgrade of PBF (PBF) the analyst is now buy-rated on every US refiner under coverage. In a note Tuesday, Wells updated Q2 estimates, showing just how impactful current margins could be ...
Valero Energy is well-positioned to benefit from high crack spreads. For now, crack spreads are approximately $52. Valero Energy is eager to bolster up its balance sheet in the first instance, rather than repurchase shares. I believe this is the right course of action at this juncture...
The shareholders of Valero Energy have enjoyed a very strong rally thus far into 2022 with their share price slightly more than 80% higher since the year began. These booming operating conditions obviously cannot last forever but even if they did, their shareholder returns are relativ...
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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...