Valero Energy (VLO) Coverage Begins as Buy at UBS

Valero Energy (VLO) has been initiated today with coverage from the research analysts at UBS.  UBS begins this new coverage of Valero Energy with an initial price target set at $33 and rates performance of VLO as “buy.”  UBS noted that recovering diesel prices sets Valero up as a good long-position play.  Additionally, UBS mentioned that Valero has 60% of its refinery operations within the United States gulf coast which enables it to export to global markets quickly.

Between Monday trading and today’s, VLO has almost managed to recover all of last Friday’s loss.  Still, shares are still stuck within an inside bar formation from last Friday as shares attempt to find intermediate direction.  Beginning last Friday was the first time that VLO had traded beneath the 200-day moving average for the first time since November 4th, 2010.  Today’s rebound puts VLO above the ‘200’ once again.

Valero Energy is slated to release their next earnings report on July 26th, 2011,  and is estimated to post EPS of $1.44.  Their last earnings report was released on April 26th, 2011, and announced EPS of 18 cents.  VLO is trading between its 50 & 200-day moving averages and 2011 is currently an up year for the company.

Valero Energy Corporation is headquartered in San Antonio, Texas.  They have 14 petroleum refineries that are located in the United States, Canada, and Aruba. Their refineries can produce conventional gasolines, distillates, jet fuel, asphalt, petrochemicals, lubricants, and other refined products.  The company has market capitalization of $13,988,232,500 and 570,250,000 shares outstanding.  VLO has a 52-week high of $31.12 with the low being $15.49 dollars.

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