US91913Y1001 - Common Stock
139.17 +2.02 (+1.47%)
The Environmental Protection Agency lifts restrictions on higher ethanol fuel in Midwest states, a partial victory for biofuel groups that had asked for the change to take effect this summer
HF Sinclair (DINO) stock drops as Q4 earnings beat expectations but fall short of major rivals, leading to mixed analyst reactions.
Despite its impressive fundamentals, VALERO ENERGY CORP (NYSE:VLO) remains undervalued.
The Biden administration is set to revise ethanol modeling, which could make it more difficult for producers to obtain US tax credits.
Major U.S. fuelmakers beat Wall Street's earnings expectations in the fourth quarter on strong refining margins and operating performance, and they predicted profits would rise again this year thanks to global demand growth. For 2023, three of the biggest U.S. independent refiners - Marathon Petroleum , Phillips 66 , and Valero Energy - posted combined adjusted earnings of $25.7 billion. Shares of Marathon are up 11% year-to-date, Phillips 66 is up about 9% and Valero has gained 8%, far outpacing the S&P 500 energy sector's slight decline so far this year.
Valero Energy expects Q1 refining margins to be supported by tighter supply caused by several turnaround projects ahead of the summer driving season.
Citi initiates Buy recommendations for Phillips 66 and Valero in the refining sector, citing operational improvements and strong execution.
Valero Energy Corp, the second largest U.S. oil refiner, on Thursday joined rivals in forecasting refinery maintenance will cut into U.S. gasoline inventories that have kept retail prices low. U.S. refineries have been running at high throughput since emerging in mid-2021 from the COVID-19 demand drop. Rival Delek US Holdings made similar comments a day earlier.
Valero Energy surpasses expectations with Q4 earnings, reporting a Non-GAAP EPS of $3.55, beating estimates by $0.60, and revenue of $35.41B, exceeding...