Information Provided By:
Fly News Breaks for February 28, 2020
Feb 28, 2020 | 06:03 EDT
Piper Sandler analyst Ryan Todd downgraded Valero to Neutral from Overweight with a price target of $97, down from $114. The analyst sees elevated estimate revision risk and finds the stock's relative valuation less attractive versus its large-cap peers.
News For VLO From the Last 2 Days
Sep 22, 2021 | 11:43 EDT
The U.S. Environmental Protection Agency is proposing big cuts to the nation's biofuel blending requirements for the years 2020, 2021 and 2022, in a move that is sure to anger farmers and biofuel producers, Reuters' Stephanie Kelly and Jarrett Renshaw report, citing a document seen by the publication. The proposal is a win for the oil industry, which argued for the cuts due to an overall slowdown in fuel demand during the coronavirus pandemic. The agency would reduce the mandates for 2020 and 2021 to about 17.1 billion gallons and about 18.6 billion gallons, the document showed. The agency also would set the level for 2022 at about 20.8 billion gallons. Publicly traded companies in the space include Delek US (DK), HollyFrontier (HFC), Marathon Petroleum (MPC), Phillips 66 (PSX), Tesoro (TSO), Valero (VLO), Western Refining (WNR), Aemetis (AMTX), Alto Ingredients (ALTO), FutureFuel (FF), Gevo (GEVO), Green Plains (GPRE), Green Plains Partners (GPP) and Rex American Resources (REX). Reference Link