VLO - Valero Energy Corporation
| Previous Close | 83.70 |
| Open | 84.35 |
| Bid | 85.22 x 900 |
| Ask | 85.57 x 800 |
| Day's Range | 83.92 - 85.71 |
| 52 Week Range | 68.81 - 120.72 |
| Volume | 4,324,453 |
| Avg. Volume | 3,173,453 |
| Market Cap | 35.444B |
| Beta (3Y Monthly) | 1.74 |
| PE Ratio (TTM) | 14.04 |
| EPS (TTM) | 6.09 |
| Earnings Date | Oct 24, 2019 |
| Forward Dividend & Yield | 3.60 (4.30%) |
| Ex-Dividend Date | 2019-08-05 |
| 1y Target Est | 100.17 |
- Moody's
Louisiana Offshore Terminal Authority -- Moody's announces completion of a periodic review of ratings of Louisiana Offshore Terminal Authority and LOOP LLC
Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of Louisiana Offshore Terminal Authority, LOOP LLC and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers. This publication does not announce a credit rating action and is not an indication of whether or not a credit rating action is likely in the near future.
- Zacks
U.S. Biofuels Policy: Oil & Corn Industries Fight It Out
Farm groups and ethanol organizations are angered by the sharp increase in exemptions provided by the Andrew Wheeler-led Environmental Protection Agency to the oil refiners.
- Bloomberg
White House Plans Biofuel Quota Boost to Offset Refinery Waivers
(Bloomberg) -- President Donald Trump has tentatively agreed to a plan for bolstering ethanol and biodiesel, amid pressure from Midwest U.S. senators who warned that without action he risks votes in next year’s election.The blueprint discussed in a Wednesday meeting at the White House calls for the administration to begin offsetting Environmental Protection Agency exemptions waiving some oil refineries from annual blending requirements starting in 2020. That comes on top of other concessions that administration officials had already developed with the aim of encouraging greater U.S. demand for ethanol made from corn.The draft plan was described by people familiar with the matter who asked for anonymity because the deliberations are private. The deal could still unravel, as oil companies and allied senators seek to influence the final outcome and administration officials work to translate broad commitments into formal regulations.Green Plains Inc., a U.S. ethanol producer, tempered its losses after Bloomberg reported the White House deliberations. The shares fell as much as 4.9%, to $10.36, before recovering to $10.79 as of 2:48 p.m. in New York. Renewable Energy Group Inc., one of the largest U.S. biodiesel producers, erased earlier losses, gaining 3.5% to $15.87. Pacific Ethanol Inc. also tempered an earlier decline, rising to 74.31 cents a share.Reallocating QuotasIf the deal becomes final, the EPA would begin calculating waivers into future quotas starting with the 2020 targets. The determinations would be driven by a three-year rolling average of exemptions, so the 2020 targets would reflect waivers issued in 2016, 2017 and 2018. That could raise legal hurdles for the EPA, which would be tasked with swiftly implementing it.There is a narrow window for the Trump administration to codify a package of changes. The EPA is legally required to finalize 2020 biofuel-blending targets by Nov. 30, and any new, supplementary proposal must first be submitted for public comment.The plan was hashed out on Thursday by Trump, a representative of Archer-Daniels Midland Co. and senators from corn-growing and ethanol-producing states in a meeting at the White House. Senators in the room included Chuck Grassley and Joni Ernst of Iowa, John Thune and Mike Rounds of South Dakota and Ben Sasse and Deb Fischer of Nebraska.Iowa Governor Kim Reynolds was also present.Plans DevelopedFor weeks, the Trump administration has been trying to develop a plan for quelling a backlash in the Midwest U.S. over the oil refinery waivers, amid concerns it could hurt Trump’s re-election chances in Iowa and other politically important farm states.The approach risks alienating oil refining supporters, including a group of senators that are asking Trump not to boost biofuel quotas or offset refinery waivers. The move would have the effect of putting non-exempted refineries on the hook for fulfilling waived quotas, driving “more imports of foreign biodiesel, steeper trade deficits, higher compliance costs for domestic refiners and fewer jobs in our states,” they told Trump in a letter.Executives from Valero Energy Corp. and Marathon Petroleum Corp. met with Trump earlier in the week as negotiations intensified. Republican senators, including Ted Cruz of Texas and Pat Toomey of Pennsylvania, have been seeking to press their case against the biofuel plan personally with Trump.Refinery workers and owners also have made appeals, with more than 60 refinery managers telling the president in a letter Thursday that they were “deeply concerned” the contemplated changes would hurt their industry, without benefiting American farmers.Just the prospect of a biofuel boost has driven up prices of the tradable credits refiners use to prove they have satisfied federal mandates. Renewable Identification Numbers tracking 2019 ethanol consumption quotas jumped 17% to 21 cents apiece on Friday from 18 cents on Thursday, the highest since July 29, according to broker data compiled by Bloomberg. RINs tracking 2019 biodiesel targets climbed 6.3% to 51 cents each, the highest since Feb. 28.(Updates with details on deal, RINs movement from second paragraph.)To contact the reporters on this story: Jennifer Jacobs in Washington at jjacobs68@bloomberg.net;Mario Parker in Chicago at mparker22@bloomberg.net;Jennifer A. Dlouhy in Washington at jdlouhy1@bloomberg.netTo contact the editors responsible for this story: Jon Morgan at jmorgan97@bloomberg.net, Steve GeimannFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
- Market Realist
Big Biofuels Issue: Trump Meets with Refiners, Senators
In a bid to find a solution to the biofuels issue, President Trump met with the CEOs of several refiners as well as senators from the major farming states.
- Zacks
The Zacks Analyst Blog Highlights: ExxonMobil, Chevron, BP, Royal Dutch Shell and Valero
The Zacks Analyst Blog Highlights: ExxonMobil, Chevron, BP, Royal Dutch Shell and Valero
- Reuters
UPDATE 2-Trump meets with senators from key farm states, touts biofuel deal progress
U.S. President Donald Trump said the administration has made progress on a biofuel reform package after he met with U.S. senators from key farm states on Thursday as part of an ongoing effort to boost ethanol demand and help hard-hit corn farmers. Trump met with a group of corn-state Republican lawmakers that included Iowa senators Joni Ernst and Chuck Grassley on Thursday afternoon, four sources familiar with the matter said. Iowa Governor Kim Reynolds also attended the meeting, two of the sources said.
- Bloomberg
Trump Meets With Oil Refining Executives Amid Talks on Biofuel
(Bloomberg) -- President Donald Trump met Wednesday with the heads of two of the nation’s largest refiners as he seeks a deal that would boost corn-based ethanol and soy-based biodiesel without alienating oil companies required to use the products.Trump met with Marathon Petroleum Corp. chief executive Gary Heminger; Valero Energy Corp. chief executive Joe Gorder; and Harold Hamm, the founder of Continental Resources Inc., according to people familiar with the matter who asked not to be named describing private discussions. Although Hamm’s Continental is an oil producer without direct involvement in U.S. biofuel mandates, the president has long tapped the billionaire oilman’s energy expertise.White House officials are set to meet Thursday with senators from corn- and ethanol-producing states, amid deep anger in the Midwest U.S. over the Environmental Protection Agency’s decision waive some oil refineries from annual blending quotas.Administration officials have spent weeks trying to develop a suite of pro-ethanol and pro-biodiesel policy changes that would temper the angst in Iowa and other politically important Midwest U.S. states. But they’re trying to do it without prompting a backlash in the Rust Belt, even as oil industry workers and labor unions demonstrated their opposition with a rally in Toledo, Ohio, on Thursday.Ethanol manufacturers and Iowa politicians have been cool to a drafted White House plan that would give a 5% boost to biofuel-blending requirements in 2020 and are asking the administration to do more to formally account for refinery exemptions as part of the quotas. In a separate meeting Wednesday, White House officials told biofuel producers to swiftly offer alternatives to that plan, warning that they are running out of time to make changes to proposed 2020 quotas.Refining representatives, who also met with National Economic Council staff on Wednesday, are pressing the administration to find ways to constrain the cost of tradable credits known renewable identification numbers, which are used to prove they have fulfilled biofuel-blending requirements. Although refinery exemptions have driven down the cost of those compliance credits, any move to boost future quotas threatens to propel their prices again.Some refiners are advancing a plan that would allow the EPA to sell its own compliance credits whenever those RINs prices get too high. The EPA-generated credits would not be tied to actual biofuel production or blending but revenue from their sale could be steered to building out fueling infrastructure to get more ethanol to consumers.Marathon Petroleum spokesman Jamal T. Kheiry confirmed Wednesday’s meeting, saying the company “always appreciates the opportunity to share our thoughts with elected officials on policies that can impact our business and consumers who rely on our products.”Asked about Hamm’s involvement, Kristin Thomas, a senior vice president with Continental Resources, said: “Mr. Hamm is supportive of the president and his positive impact on American energy.”Representatives for Valero did not immediately respond to requests for comment.(Updates with more details on White House meetings from third paragraph.)\--With assistance from Josh Wingrove.To contact the reporters on this story: Jennifer A. Dlouhy in Washington at jdlouhy1@bloomberg.net;Mario Parker in Chicago at mparker22@bloomberg.net;Jennifer Jacobs in Washington at jjacobs68@bloomberg.netTo contact the editors responsible for this story: Jon Morgan at jmorgan97@bloomberg.net, Elizabeth WassermanFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
- Reuters
Refining CEOs met with Trump, seeking concessions on U.S. biofuels policy -sources
Valero Energy CEO Joe Gorder and Marathon Petroleum CEO Gary Heminger were at the White House on Wednesday, the sources said, amid ongoing wrangling by the administration to try to find ways to satisfy warring agricultural and oil interests over biofuels. The White House is expected to meet with U.S. Senators from key farm states later on Thursday and senators representing oil-producing states on Friday, the sources said. The White House was not immediately available for comment.
- Zacks
Valero (VLO) & Darling Eye Second Renewable Diesel Facility
Valero Energy (VLO) is expected to produce 400 million gallons of diesel per annum and 40 million gallons of renewable naphtha from the new facility in Port Arthur, TX.
- Zacks
U.S. Oil Ends Lower Even as EIA Reveals Drop in Inventories
While EIA reports the fourth straight weekly inventory decline, crude prices fall after OPEC cut its forecast for oil demand growth this year and next.
- Bloomberg
White House to Meet With Oil, Biofuel Makers in Bid for Deal
(Bloomberg) -- Trump administration officials are set to consult with oil refiners and renewable fuel producers at the White House on Wednesday, as they struggle to develop a final plan for bolstering corn-based ethanol and soy-based biodiesel.Representatives of Valero Energy Corp., PBF Energy Inc., Monroe Energy, HollyFrontier Corp., Marathon Petroleum Corp. and Phillips 66 are set to attend a meeting Wednesday afternoon, as the oil refiners warn the administration against plans to dramatically hike biofuel-blending quotas.A separate meeting with biofuel producers is set to include executives from Louis Dreyfus Co., Renewable Biofuels Inc., Ag Processing Inc. and Renewable Energy Group Inc., said people familiar with the matter, who asked not to be named discussing private negotiations. A representative of Archer-Daniels Midland Co., one of the nation’s largest ethanol manufacturers, also said the company would be at the biofuel meeting.The discussions are not expected to include industry trade associations nor influential lawmakers who have pressed President Donald Trump for biofuel policy changes since he took office. By meeting directly with company lobbyists and executives from the dueling industries, administration officials may be better able to confirm their policy demands and reach discrete agreements.Administration officials have been seeking to finalize a broad plan for boosting U.S. biofuel-blending mandates and taking other steps to propel renewable fuels made from corn and soybeans -- without major disruptions for oil refining companies. On Aug. 29, Trump promised he would soon unveil a “giant package” of biofuel changes that would make farmers “so happy.”The effort responds to a backlash in the American Midwest over the Environmental Protection Agency’s decisions to exempt oil refineries from annual requirements to use biofuel. Although federal law authorizes those waivers for small refineries facing an economic hardship from the mandates, renewable fuel supporters say the Trump administration has handed them out too freely -- dealing a blow to agricultural interests already suffering amid the trade fight with China and a tough growing season.After weeks of talks, administration officials have agreed they will not seek to rescind a batch of recently granted waivers exempting oil refineries from 2018 biofuel-blending mandates.However, they tentatively decided to begin accounting for them in 2021 blending quotas -- a move would effectively force non-exempted refineries to satisfy targets expected to be waived for other facilities. Administration officials also are considering giving a 5% boost to U.S. renewable fuel-blending quotas in 2020.Biofuel advocates -- including trade associations, ethanol producers and Midwest lawmakers -- have been cool to the plan, saying the reallocation of waived quotas should happen at least a year earlier, in 2020. That has complicated the White House’s efforts to reach a deal.The issue underscores a clash between two key Trump constituencies -- agriculture and oil -- heading into the 2020 election. Oil industry advocates and labor unions have been appealing to the White House not to alter course, arguing the hardship waivers are essential to keeping small refineries running.Refinery workers and labor groups are set to hold a rally over the issue in the battleground state of Ohio on Thursday, emphasizing that Trump’s decisions on biofuel could cost him votes in the Rust Belt -- not just the heartland.(Updates with details on meetings and strategy from second paragraph)To contact the reporters on this story: Mario Parker in Chicago at mparker22@bloomberg.net;Jennifer A. Dlouhy in Washington at jdlouhy1@bloomberg.net;Jennifer Jacobs in Washington at jjacobs68@bloomberg.netTo contact the editors responsible for this story: Jon Morgan at jmorgan97@bloomberg.net, John HarneyFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
- Kiplinger
7 Cheap Stocks to Buy in a Pricey Market
After a bull market that's now the longest on record, you might think that nothing is cheap anymore. How one precisely defines "cheap" can vary from person to person. But for many, cheap stocks are simply those with solid fundamentals that have either been overlooked by the market or excessively knocked down by bad news.The one game you don't want to play is buying stocks just because they have fallen in price. While some may truly be great bargains, others fall for good reason. That reason can be anything from failing business models and weak management to overwhelming legal issues, changing tastes and obsolete technology.To separate the wheat from the chaff, we've asked a group of investment managers and market experts which stocks are in the "good bargain" category, which means they're down in price but still fundamentally sound and growing.Here are seven of their favorite cheap stocks to buy. Most of the names are familiar, which will provide an additional level of comfort. However, they all share a common thread of being down but far from out. SEE ALSO: 50 Top Stocks That Billionaires Love
- GlobeNewswire
Valero Energy Corporation to Announce Third Quarter 2019 Earnings Results on October 24, 2019
SAN ANTONIO, Sept. 09, 2019 -- Valero Energy Corporation (NYSE: VLO, “Valero”) today announced that it will host a conference call on October 24, 2019, at 10:00 a.m. ET to.
- Market Realist
Institutional Holdings in MPC, VLO, PSX, and HFC
Institutional holdings in Valero Energy, Marathon Petroleum, Phillips 66, and HollyFrontier stand above 70%. HollyFrontier has the highest holding of 89%.
- American City Business Journals
Valero considering second renewable diesel plant
San Antonio-based Valero Energy Corp. is in discussion to build the company's second renewable diesel plant in partnership with Darling Ingredients Inc. Valero [NYSE: VLO] said demand for the product is growing as countries adopt more low-carbon initiatives. Renewable diesel is made from biomass like animal fats and used cooking oils and is said to burn cleaner than fossil fuel-based diesel. “We expect low-carbon fuel mandates across the globe to continue to drive demand growth for renewable fuels,” Valero CEO Joe Gorder said in a news release.
- Reuters
UPDATE 1-Valero Energy begins cost review of renewable diesel plant in Texas
U.S. refiner Valero Energy Corp said on Monday it has started a cost review of a new plant in Port Arthur, Texas, along with food processor Darling Ingredients Inc. The facility, which aims to tap into the growing global demand for renewable diesel, is expected to produce 400 million gallons of diesel and 40 million gallons of renewable naphtha a year. The final investment decision on the project is expected in 2021.
- GlobeNewswire
Diamond Green Diesel Evaluating New Plant in Port Arthur, Texas to Expand Production up to 1.1 Billion Gallons Annually
SAN ANTONIO, Sept. 09, 2019 -- Valero Energy Corporation (NYSE: VLO, “Valero”) and Darling Ingredients Inc. (NYSE: DAR, “Darling”) are addressing the growing demand for.
- PR Newswire
Diamond Green Diesel Evaluating New Plant in Port Arthur, Texas to Expand Production up to 1.1 Billion Gallons Annually
Would be first renewable diesel plant in Texas and solidify Diamond Green Diesel's position as the largest producer of renewable diesel in the U.S. and second largest globally IRVING, Texas , Sept. 9, ...
- TipRanks
Goldman Sachs: 3 High-Yield Dividend Stocks to Buy Now
According to Goldman Sachs, the time is now ripe for dividend investing. The firm’s chief US equity strategist, David Kostin, writes: “With the 10-year Treasury yield at just 1.5% and the Fed likely to cut two more times this year, investors should look for opportunities in dividend stocks.” Similarly, in a recent interview with CNBC, Mark Tepper, president and CEO of Strategic Wealth Partners, commented: “As an investor, it’s important to understand that the 30-year yield is pretty much in line with the dividend yield on the S&P 500 right now. So, which would you rather own over the next 10 years?... You’re getting the same yield with a growth component if you invest in stocks.”For investors looking to pick up some top dividend names, Goldman Sachs screened for stocks with both strong dividend growth and high dividend yields, based on dividend estimates and payout ratios. We used TipRanks to pinpoint three of the most promising stocks on Goldman Sachs’ dividend growth list. As you will see all three of the stocks covered below have a buy consensus from the Street, based on the last three months of ratings: 1\. AT&T (T)Telecom giant AT&T is one of the highest yielding dividend stocks singled out by Goldman Sachs. Currently investors receive a lucrative 5.63% yield, which translates to an annualized payout of $2.04 (paid quarterly). For comparison’s sake, the average tech stock manages a dividend yield of just 0.96%. And you can add to the picture extremely compelling dividend growth of 34 consecutive years. That makes T one of the elite Dividend Aristocrats, S&P 500 companies with over 25 years of straight dividend growth. Such a strong dividend outlook also provides foundation for the company’s share price, which has been on a roll recently. Year-to-date, T has now surged 27% to $36.25. That’s reflected in the fact that the stock’s average analyst price target now falls below the current share price. However, T maintains its Strong Buy analyst consensus. Plus five-star Cowen & Co analyst Colby Synesael has just reiterated his T buy rating with a price target of $40 (10% upside potential). According to the analyst, shares can continue to grind higher over the coming months. He points out that T is still executing against its 2019 guidance, while potential asset sales (i.e. from the Latin American and tower portfolios) could reduce risk and help pay down debt. Meanwhile Tigress Financial’s Ivan Feinseth has a Strong Buy rating on T, explaining: “We reiterate our Buy rating on AT&T as positive Business Performance trends continue to accelerate driven by the ramp-up of its high-speed 5G network, and the continued leverage of its WarnerMedia acquisition… We believe significant upside exists from current levels and continue to recommend purchase.” Overall, six out of eight analysts covering the stock rate AT&T a buy right now. 2\. Kohl’s Corp (KSS)With over 1,100 stores across the US, and annual sales of around $19 billion, KSS is one of the US’s largest retail chains. Although share prices have struggled recently, investors still enjoy an annualized payout of $2.68 (paid quarterly). That’s thanks to eight consecutive years of dividend growth pushing the yield to 5.52% vs the 2.07% services sector average. In the stock’s favor comes a recent tie up with a major rival- e-commerce giant Amazon (AMZN). On July 8 Kohl’s announced that it now accepts Amazon returns after a successful pilot program. KSS will pack, label and ship the returns for free, but hopes the initiative will “drive customers into our stores, and we are expecting millions to benefit from this service.”“It’s an interesting marriage because what Kohl’s needs is store traffic, and what Amazon needs is to make customers happier with a place to return their items,” Cowen & Co analyst Oliver Chen commented. “The dream is that it’s a fair but attractive split where that shopper will come in and purchase other items.” He recently reiterated his buy rating on the stock with a $58 price target (19% upside potential).Writing more recently, Guggenheim’s Robert Drbul reiterated his buy rating following Kohl’s Q2 results. Despite a choppy retail environment, the analyst notes that 1) management has the playbook to drive positive comps in 2H19; and 2) KSS remains best in class at expense management. Plus the analyst adds: “the company remains committed to returning cash to shareholders… and has improved its balance sheet over the past 12-18 months. We continue to view the management team and strategy in place at KSS favorably.” Given the ongoing highly competitive retail environment, Drbul does lower his KSS price target from $70 to $60. However, from current levels that still indicates upside potential of 24%. Overall, the stock reveals a cautiously optimistic Moderate Buy consensus. It has scored 6 recent buy ratings (including from Goldman Sachs’ Alexandra Walvis\- who has a $56 price target on the stock), alongside 4 hold ratings and 1 sell rating. 3\. Valero (VLO)Last but not least, Goldman Sachs draws our attention to Valero- the world's largest independent petroleum refiner and a leading ethanol producer. From a dividend perspective, VLO offers a high yield of 4.61% with eight years of dividend growth, easily beating the sector’s average yield of 2.54%. Moreover, the annualized payout currently stands at $3.60 (paid quarterly). Indeed, VLO has a very strong program to return capital to shareholders, with $11+ billion returned in 2015–18.And we can see that the stock boasts only buy ratings from the Street right now. In the last three months, six analysts have published buy ratings on the stock with an average price target of just under $100. For instance, Goldman Sachs’ Neil Mehta upgraded VLO from Hold to Buy three months ago. Citing the stock’s recent underperformance, the analyst also told investors “we expect the company to benefit from increased flows of crude to the US Gulf Coast where much of Valero’s refining capacity is located.” He has a $92 price target on the stock (18% upside potential).Another analyst singing the stock’s praise is RBC Capital’s Brad Heffern. After the company reported a very standard VLO beat for the second quarter, Heffern wrote “We like Valero Energy for its position at the bottom of the global refining cost curve and its significant leverage to the US Gulf Coast refining market.” However, the analyst did that the 2Q19 bar was relatively low and should have been more easily cleared. His buy rating comes with a $98 price target. Discover the Street’s best-rated stocks with the Top Analysts’ Stocks tool
- Zacks
Valero Energy (VLO) Outpaces Stock Market Gains: What You Should Know
Valero Energy (VLO) closed the most recent trading day at $78.13, moving +1.75% from the previous trading session.
- Market Realist
Valero Stock: Is Now the Right Time to Buy?
Analysts expect Valero Energy's (VLO) adjusted EPS to fall 28.5% in 2019 but rise 83.7% in 2020. Valero stock rose 0.3% on September 4 and closed at $74.78.
- American City Business Journals
NuStar opens valves to more Permian oil, refined products
San Antonio-based NuStar Energy LP completed three pipeline projects on the same day, allowing the company to send more crude oil and refined products to South Texas and Mexico. The company's Laredo to Nuevo Laredo pipeline was reactivated over Labor Day weekend after five years of laying dormant in order to begin moving diesel into Northern Mexico. It was deactivated when a customer contract expired, NuStar (NYSE: NS) spokesman Chris Cho told the Business Journal.
- Motley Fool
Why Valero Energy Stock Slumped Nearly 12% in August
Several issues weighed on the refining company last month.
- Moody's
LOOP LLC -- Moody's affirms LOOP's senior unsecured rating at A3
Rating Action: Moody's affirms LOOP's senior unsecured rating at A3. Global Credit Research- 29 Aug 2019. New York, August 29, 2019-- Moody's Investors Service affirmed LOOP LLC's A3 senior unsecured rating ...
- Simply Wall St.
Have Insiders Been Buying Valero Energy Corporation (NYSE:VLO) Shares This Year?
We've lost count of how many times insiders have accumulated shares in a company that goes on to improve markedly. The...
