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Valero Energy Corporation

6/19/2013, 6:17 PM ET

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Monday, June 3, 11:29 AM Direct beneficiaries of rising U.S. energy production and the coming lower energy costs, according to BAML, are domestic oil production, refining, oil services and petrochemicals firms. The firm's top stocks to buy: Valero (VLO) in refining; LyondellBasell (LYB) in chemicals; Halliburton (HAL) in oilfield services; Hess (HES) in production; Union Pacific (UNP) in transportation. Comment! [Energy, Quick Ideas]
Friday, May 31, 2:08 PM Kinder Morgan Partners (KMP -1.6%) cancels plans for the 277K bbl/day Freedom pipeline that would have given refiners on the U.S. west coast such as Valero (VLO) and Tesoro (TSO) a direct stream of West Texas crude. KMP says it did not receive enough interest to commit to building the $2B project, and will switch its focus to crude-by-rail projects in Texas and California. 3 Comments [Energy, On the Move]
Friday, May 24, 2:28 PM Rail is no longer seen as just a stopgap for transporting oil until pipelines are built. Case in point: Kinder Morgan Partners' (KMP) proposed 277K bbl/day Freedom pipeline would be the first to bring light, sweet oil from Texas' Permian Basin to California, but refiners Valero (VLO), Tesoro (TSO) and Phillips 66 (PSX) won't sign contracts to use Freedom, preferring the flexibility of rail cars and barges. 28 Comments [Energy]
Tuesday, May 21, 12:47 PM Energy infrastructure largely escapes damage from yesterday's tornado that ripped through Oklahoma, though a Southern Star natural gas pipeline reports some damage. Valero (VLO) and Phillips 66 (PSX) say their refineries escaped damage, Enterprise Products Partners (EPD) reports no damage to its Seaway pipeline, and operations at the Cushing crude hub are unaffected. 2 Comments [Energy]
Monday, May 20, 10:59 AM Valero Energy (VLO +2.4%) pushes higher as a Friday story makes the rounds discussing the possible timing of a potential MLP for VLO's logistics assets. VLO has said it was evaluating an MLP, but the article seems more focused on the when rather than the if an MLP would happen. VLO has not yet made a commitment, but a spokesman says it is “leaning toward a positive decision." 4 Comments [Energy, On the Move]
Friday, May 10, 3:05 PM Federal officials on Friday celebrate the success of a government-backed project at Valero's (VLO) Port Arthur, Tex., refinery, where Air Products (APD) has begun extracting carbon dioxide from two steam methane reformers. It's a milestone for expensive and still-developing carbon capture technology viewed as the major means of cleaning up carbon emissions from industrial processes. Comment! [Energy]
Monday, May 6, 6:30 PM All but three refiners are net-cash today, with average free-cash yield of ~11% on mid-cycle earnings whose managements have substantial firepower to defend against share-price weakness, Credit Suisse notes, finding the most value in Marathon Petroleum (MPC) and Tesoro (TSO); it reinstates Valero (VLO) at Neutral. Also, Western Refining (WNR) is upgraded, and Alon USA (ALJ) is cut to Underperform. 1 Comment [Energy, Quick Ideas]
Friday, May 3, 1:13 PM CST Brands (CST -0.4%) - the spinoff of Valero's (VLO) convenience store business (for those in the Mid-Atlantic, think Wawa's superstores) - is again lower on its 2nd day of trading. Not a fan of the business model, Wilson Wang nevertheless says the low valuation has him interested. He's waiting first to see if institutional holders - Valero owners who have no interest in owning a retail operation - dump their stakes and create an even more enticing valuation (the Joel Greenblatt scenario). 9 Comments [Quick Ideas]
Thursday, May 2, 2:58 PM Enterprise Products Partners (EPD), fresh off another strong quarter, stands atop Raymond James' list of energy stocks and MLPs to buy. Alliance Holdings (AHGP) and Alliance Resource Partners (ARLP) offer attractive distributions. Other favorites: VLO, APA, STR, TLLP, ACMP, QEP. Comment! [Energy, Quick Ideas]
Thursday, May 2, 9:10 AM Premarket gainers: REGI +23%. CAAS +18%. YELP +12%. MWW +10%. GNRC +9%. NIHD +7%. BZH +7%. GILD +6%. MGM +5%.
Losers: CIG -13%. VLO -7%. TS -6%. 2 Comments [On the Move]
Tuesday, April 30, 5:51 PM Valero Energy (VLO) says it will explore a spinoff of its logistics and transportation business into an MLP after it completes the spinoff of its retail convenience stores announced earlier this month. VLO will need to invest in the midstream side of the business, but Cowen analysts say they aren't worried about harm to the share price because the move would not threaten VLO’s cash outlook. Comment! [Energy]
Tuesday, April 30, 8:27 AM More on Valero's (VLO) Q1 results: $700M increase in operating income was primarily due to higher refining throughput margins in each of VLO's operating regions, except the U.S. west coast, the result of higher margins for diesel and jet fuel and wider discounts on crude oil and feedstocks. Refining throughput volumes averaged 2.6M bbl/day, up 11K Y/Y. Shares +3.2% premarket. Comment! [Energy, Earnings, On the Move]
Tuesday, April 30, 7:55 AM Valero Energy (VLO): Q1 EPS of $1.18 beats by $0.18. Revenue of $33.47B beats by $3.06B. Shares +2.3% premarket. (PR) 1 Comment [Earnings, Breaking News, On the Move]
Wednesday, April 17, 5:50 PM Deutsche Bank lowers its stock target prices on several refiners, expecting weak margins to weigh on earnings in Q2 and in 2013 as producing gasoline gets less profitable. The new target for Buy-rated Holly Frontier (HFC) is $58, down from $68. Hold-rated refiners with reduced targets: ALJ, CLMT, CVI, DK, MPC, PBF, PSX, TSO, VLO, WNR. Comment! [Energy, Quick Ideas]
Wednesday, April 17, 12:57 PM Energy stocks (XLE -2.8%) trade well below the broader market as crude oil futures plunge after a surprising drop in U.S. distillate supplies and a smaller drop in crude supplies than API data showed. With the U.S. dollar substantially higher, analyst Tariq Zahir sees crude continuing its downward trend. Refiners: VLO -3.9%, TSO -5.6%, PBF -6.3%, CVI -6.8%. Big losers: LPI -5.4%, HLX -5.9%, PDS -6.5%, PWE -5.8%, KOG -4.4%. Comment! [Energy, On the Move]
Tuesday, April 16, 9:08 AM Motiva Enterprises' (RDS.A) Port Arthur, Tex., refinery will take several days to restart following an unexpected loss of power Sunday from its utility provider. The malfunction resulted in a plant-wide shutdown of Motiva's 600K bbl/day refinery and also of Valero's (VLO) 310K bbl/day refinery in the same area; Total's (TOT) 174K bbl/day refinery experienced operational upsets. 2 Comments [Energy]

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