Connect with us

Hi, what are you looking for?

Stock

Is Valero Energy Setting Up for a Big Move?

Stock Markets40 minutes ago (Jun 28, 2021 11:30AM ET)

(C) Reuters. Is Valero Energy Setting Up for a Big Move?

An ascending triangle pattern has formed in the chart of Valero Energy Corp. (NYSE:VLO). The stock recently hit a level of resistance and could again soon. Read more to learn how to take advantage of this trading opportunity.Valero Energy Corp. (VLO) is one of the largest independent refiners in the United States. It operates 14 refineries with a total throughput capacity of 3.2 million barrels a day in the United States, Canada, and the United Kingdom.

The majority of the company’s refining plants are in the Gulf coast where it has easy access to the export facilities. This has helped VLO expand its export volumes over the last few years. The firm is also set to benefit from a new standard set by the International Maritime Organization where the proportion of sulfur in marine fuel has declined drastically, which boosts demand for VLO’s distillate fuels.

As of the most recent quarter, the company had $17.6 billion in cash compared with only $734 million in short-term debt. However, its profit margin is negative. Over the past year, sales are down 40%, but analysts forecast revenue to jump 112.4% year over year in the current quarter.

Continue reading on StockNews

Is Valero Energy Setting Up for a Big Move?

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

Stock

Stock Markets25 minutes ago (Jul 16, 2021 05:46PM ET) (C) Reuters. FILE PHOTO: Johnson & Johnson’s Neutrogena Cool Dry Sport sunscreen, which is part...

Tech

Builders, creators and developers, this one’s for you! TechCrunch has always been about discovering fresh solutions and shining the light on exciting, new products...

Disclaimer: Wisegazette.com it's managers and its employees (collectively "The Company") do not make any guarantee or warranty about what is advertised or above. Information provided by this website is for research purposes only and should not be considered as personalized financial or health advice. Copyright © 2021 Wise Gazette. All Rights Reserved