Vertex (VTNR) Reports First Renewable Diesel Transaction
Vertex Energy Inc. VTNR, a prominent producer and marketer of refined products, has achieved a significant milestone with respect to its renewable diesel project. The company recently announced the completion of its initial commercial sales transactions of renewable diesel from its state-of-the-art production facility at the Mobile Refinery in Alabama. In the first series, VTNR successfully sold approximately 110,000 barrels of renewable diesel to Idemitsu Apollo Renewable Corporation, a subsidiary of Idemitsu Kosan.
The company's commitment to renewable fuels and its strategic focus on reducing carbon emissions highlight its position as a leader in transitioning from fossil fuels to sustainable energy sources.
Vertex Energy's Renewable Diesel Push
As part of its decarbonization efforts and commitment to energy security, Vertex Energy has embraced renewable sources in addition to conventional fuels. As part of that endeavor, the company acquired a refinery in Mobile, AL in 2022 and initiated a renewable diesel conversion project. As such, the sales of renewable diesel align with Vertex Energy's commitment to renewable energy and mark a significant step toward its long-term growth strategy. This will also enable it to capture the projected growth in demand for low-carbon and sustainable alternatives.
Renewable diesel offers a cleaner and more sustainable alternative to conventional fossil fuels, significantly reducing greenhouse gas emissions and air pollutants. By producing and supplying renewable diesel, Vertex Energy contributes to a greener future, supporting the transition toward a more sustainable and low-carbon economy.
The Importance of Renewable Energy
Vertex Energy's renewable fuels strategy aligns with global efforts to reduce carbon footprints and combat climate change. With plans for increased production and expansion, the company is poised to meet the growing demand for low-carbon fuels. Currently producing at a rate of approximately 7,700 barrels per day (bpd), VTNR aims to achieve a target production rate of around 8,000 bpd by Jun 30.
By focusing on renewable energy sources, Vertex Energy is actively reducing carbon footprints and promoting a sustainable future. As the world embraces renewable energy as a key solution to environmental challenges, Vertex Energy's innovative approach is helping to create a cleaner and more sustainable future for all.
Zacks Rank & Stock Picks
Vertex Energy carries a Zacks Rank #4 (Sell) at present. Meanwhile, investors interested in the energy space might look at operators like Profire Energy PFIE, Evolution Petroleum EPM and Smart Sand SND, each carrying a Zacks Rank #2 (Buy) currently.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Profire Energy: The 2023 Zacks Consensus Estimate for Profire Energy indicates 125% year-over-year earnings per share growth. PFIE has a trailing four-quarter earnings surprise of 11.1%, on average.
Profire Energy is valued at around $57.8 million. PFIE has seen its shares inch up 0.5% in a year.
Evolution Petroleum: It is valued at some $263.2 million. The Zacks Consensus Estimate for EPM’s fiscal 2023 earnings has been revised 20.7% upward over the past 60 days.
Evolution Petroleum, headquartered in Houston, TX, has a trailing four-quarter earnings surprise of roughly 38.4%, on average. EPM shares have gained 34.1% in a year.
Smart Sand: SND beat the Zacks Consensus Estimate for earnings in three of the trailing four quarters and missed in the other. Smart Sand has a trailing four-quarter earnings surprise of 183.3%, on average.
SND is valued at around $67 million. Smart Sand has seen its shares drop 27% in a year.
Disclaimer: This article has been written with the assistance of Generative AI. However, the author has reviewed, revised, supplemented, and rewritten parts of this content to ensure its originality and the precision of the incorporated information.
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