Valero Energy

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23601 Postings, 6191 Tage Chalifmann3Valero Energy

29.08.10 10:39

Was hat eigentlich der Bauboom in China mit den US-Raffineriemargen zu tun ? die Raffineriemargen sind jedenfalls deshalb momentan am boden ! Wer versteht die Zusammenhänge ?










Wei man sieht ist Valero bestens aufgestellt und nur mässig geshortet,ganz anders: Western Refining !



Forward P/E

5-Year Growth Estimate %

5-Year PEG Ratio

Western Refining (NYSE: WNR)




Valero Energy (NYSE: VLO)




ONEOK Partners, (NYSE: OKS)




Sunoco (NYSE: SUN)




Tesoro (NYSE: TSO)




Holly (NYSE: HOC)




Gibt es ansonsten Meinungen zu Valero energy ?


Chali smilie_star_010.gif


7974 Postings, 6637 Tage louisanerValero: How to Benefit From the Increasing Crack S

03.03.11 11:06 schönem Gruss von Chalifmann3

Valero: How to Benefit From the Increasing Crack Spread

My colleague Nathan Slaughter knows just about everything there is to know about the energy industry.
He's been warning investors that just because the price of oil is touching $100 a barrel doesn't mean you should necessarily buy stocks like ExxonMobil (NYSE: XOM) or Chevron (NYSE: CVX).

There's good reason for that. As he puts it: "It's the relationship between oil and gasoline -- called the 'crack spread' -- that determines profitability of an integrated oil company. So don't assume that $3-a-gallon gasoline automatically means a cash windfall for major oil companies." But I've found a company that depends on the "crack spread" for its profits.

Formed in 1980, this Texas-based Fortune 500 company is the largest independent oil refiner in the United States. It operates 14 refineries across North America and the Caribbean. The company is one of the largest U.S. gas retailers, operating nearly 6,000 stations across North America, under brands such as Ultramar, Beacon and Diamond Shamrock.

It is also a top ethanol producer, operating 10 ethanol plants around the U.S. Corn Belt.

The name of this super-sized Texas giant?

It's oil refiner Valero (NYSE: VLO) -- whose stock is trending near a two-year high -- thanks to an increasing "crack spread."

What's the crack spread? To elaborate on how Nathan described it, it's basically the difference between the amount a refiner pays for crude oil and the cost to refine this oil. The greater the price differential, or spread, the more the refiner makes. The term comes from "cracking" large chains of hydrocarbons into smaller, finished molecules used for products like gas and diesel.

Crack spreads have increased nearly four-fold since September 2010. And in February of this year, they touched $25.43 U.S./barrel -- their level highest since 2007.

Pushing up the crack spread is the hefty supply of the benchmark crude oil West Texas Intermediate (WTI). There is excess supply of this U.S. feedstock because there is not enough pipeline capacity to move the crude to the big Gulf of Mexico refineries.

Excess supply has meant Valero has had to pay less for the crude -- a perfect formula for the refiner's profits.

As a result, Valero's stock has been soaring.

Between 2009 and most of 2010, Valero was trapped between long-term historical support (labelled on the chart below) near $14.85; and old resistance, which has become new, major support (marked on chart), near $22.81.

Treading near $14.85 support in August 2010, the stock bounced off this level to form an intermediate-term uptrend line (marked on chart). In late December 2009, the stock broke old resistance, now major support, at $22.81, bullishly completing an ascending triangle.

Now on an accelerated uptrend, Valero has been almost unstoppable. On Feb. 16, shares jumped to their highest level since 2008 after RBC Capital markets upgraded the stock.

Encountering resistance around $30.42, the stock pulled back slightly this week, along with overall market weakness. However, the stock remains on an accelerated uptrend and appears to be forming a second ascending triangle pattern with resistance just above $30.

If Valero can break minor $30.42 resistance, the measuring principle for a triangle -- calculated by adding the height of the triangle to breakout levels -- projects a price target of $41.77 ($30.42 - $19.07 = $11.35; $11.35 + $30.42 = $41.77), a price not seen since 2008.

Fundamentally, the stock shows strong growth potential.

In the fourth-quarter of 2010, revenue increased 24% to $22.2 billion, from $17.9 billion in the year-ago quarter. Increased crack spreads, combined with growing retail and ethanol sales drove up revenue. From the year-ago quarter, retail sales increased $61 million, while ethanol sales jumped by $70 million.

For the full 2011 year, analysts project revenue will increase 9.9% to $90.4 billion, from $82.2 billion. By 2012, revenue is projected to rise another 8.7% to $98.3 billion.

Although fourth-quarter earnings were negatively affected by the sale of the company's interest in the Cameron Highway Oil Pipeline, Valero still managed to slim its earnings loss to $0.77 a share from a $2.51 per-share loss in the fourth quarter of 2009. Excluding the sale, earnings would have been $0.32 a share.

For the full 2011 year, earnings are expected to rise 61% to $2.61 from $1.61 a year ago. By 2012, they are projected to edge up a further 17% to $3.04.

Valero also has an attractive price-to-sales (P/S) ratio near 0.2 and offers a forward annual dividend yield of about 0.70%"


4713 Postings, 5533 Tage bierroNews von VLO

03.03.11 20:46
Valero gibt starken Ausblick für erstes Quartal, Aktie legt deutlich zu
16:47 03.03.11

San Antonio ( AG) - Der amerikanische Raffineriekonzern Valero Energy Corp. (Profil) gab am Mittwochabend nach Börsenschluss einen starken Ausblick für das erste Quartal.

Demnach erwartet der Konzern für den Berichtszeitraum einen Gewinn im Bereich von 15 bis 30 Cents je Aktie. Diese Prognose beinhaltet dabei negative Einmaleffekte in Höhe von 61 Cents je Aktie in Zusammenhang mit Vorwärtsverkäufen bei Raffinerieprodukten. Analysten gehen für das erste Quartal derzeit von einem EPS von 55 Cents bei Umsatzerlösen von 19,98 Mrd. US-Dollar aus.

Nun ja, der Kurs zeigts ja auch, knapp 29 USD. Und heute wurden knapp 47000 calls gehandelt:

>> Call volume has spiked on Valero Energy Corporation (VLO), with about 47,000 contracts crossing the tape by midday -- easily outstripping the oil refiner's average daily call volume of 27,000 contracts. By contrast, just 12,000 puts were exchanged by the noon hour.<<<  

4713 Postings, 5533 Tage bierroVergleich mit den Großen

04.03.11 19:25
Can You Trust the Cash Flow at Valero Energy?

By Seth Jayson | More Articles
March 4, 2011 | Comments (1)

Although business headlines still tout earnings numbers, many investors have moved past net earnings as a measure of a company's economic output. That's because earnings are very often less trustworthy than cash flow, since earnings are more open to manipulation based on dubious judgment calls.

Earnings' unreliability is one of the reasons Foolish investors often flip straight past the income statement to check the cash flow statement. In general, by taking a close look at the cash moving in and out of the business, you can better understand whether the last batch of earnings brought money into the company, or merely disguised a cash gusher with a pretty headline.

Calling all cash flows
When you are trying to buy the market's best stocks, it's worth checking up on your companies' free cash flow (FCF) once a quarter or so, to see whether it bears any relationship to the net income in the headlines. That brings us to Valero Energy (NYSE: VLO), whose recent revenue and earnings are plotted below:


Source: Capital IQ, a division of Standard & Poor's. Data is current as of last fully reported fiscal quarter. Dollar values in millions. FCF = free cash flow. FY = fiscal year. TTM = trailing 12 months.

Over the past 12 months, Valero Energy generated $1,315.0 million cash on net income of $324.0 million. That means it turned 1.6% of its revenue into FCF. That doesn't sound so great. Since a single-company snapshot doesn't offer much context, it always pays to compare that figure to sector and industry peers and competitors, to see how your business stacks up.


TTM Revenue


TTM FCF Margin

 Valero Energy$81,342$1,3151.6%
 ExxonMobil (NYSE: XOM)$343,997$21,5426.3%
 Chevron (NYSE: CVX)$189,607$11,7476.2%
 ConocoPhillips (NYSE: COP)$175,752$7,2844.1%

Source: Capital IQ, a division of Standard & Poor's. Data is current as of last fully reported fiscal quarter. Dollar values in millions. FCF = free cash flow. TTM = trailing 12 months.

All cash is not equal
Unfortunately, the cash flow statement isn't immune from nonsense, either. That's why it pays to take a close look at the components of cash flow from operations, to make sure that the cash comes from high-quality sources. They need to be real and replicable in the upcoming quarters, rather than being offset by continual cash outflows that don't appear on the income statement (such as major capital expenditures).

For instance, cash flow based on cash net income and adjustments for non-cash income-statement expenses (like depreciation) is generally favorable. An increase in cash flow based on stiffing your suppliers (by increasing accounts payable) or shortchanging Uncle Sam on taxes will come back to bite investors later. The same goes for decreasing accounts receivable; this is good to see, but it's ordinary in recessionary times, and you can only increase collections so much.

So how does the cash flow at Valero Energy look? Take a peek at the chart below, which flags questionable cash flow sources with a red bar.

Source: Capital IQ, a division of Standard & Poor's. Data is current as of last fully reported fiscal quarter. Dollar values in millions. TTM = trailing 12 months.

When I say "questionable cash flow sources," I mean items such as changes in taxes payable, tax benefits from stock options, and asset sales, among others. That's not to say that companies booking these as sources of cash flow are weak, or are engaging in any sort of wrongdoing, or that everything that comes up questionable in my graph is automatically bad news. But whenever a company is getting more than, say, 10% of its cash from operations from these dubious sources, investors ought to make sure to refer to the filings and dig in.

With 40.7% of operating cash flow coming from questionable sources, Valero Energy investors should take a closer look at the underlying numbers. Within the questionable cash flow figure plotted in the TTM period above, changes in taxes payable provided the biggest boost, at 17.8% of cash flow from operations. Overall, the biggest drag on FCF came from capital expenditures, which consumed 56.8% of cash from operations.

A Foolish final thought
Most investors don't keep tabs on their companies' cash flow. I think that's a mistake. If you take the time to read past the headlines and crack a filing now and then, you're in a much better position to spot potential trouble early. Better yet, you'll improve your odds of finding the underappreciated home-run stocks that provide the market's best returns


4713 Postings, 5533 Tage bierroErwartungen verfehlt!

05.03.11 18:45
Valero Energy Corporation (VLO) expects a substantial sequential earnings drop for the first quarter of 2011. The company, in its recent first quarter 2011 interim update, stated that it expects earnings to fall to the range of 15–30 cents per share, compared with the adjusted fourth quarter 2010 profit of 40 cents. This decline primarily reflects an after-tax loss of $348 million, or 61 cents per share, related to hedging activities, to be included in the current quarter.

Valero’s guidance assumes commodity prices till date and its projected level for futures markets.

Escalating crude oil prices have hit hard the company's hedges. Following the Middle East disturbance, crude oil prices are shooting up on an expected supply disruption. On Wednesday, the price of crude oil increased to $102.23 a barrel, the highest in more than two years.


23601 Postings, 6191 Tage Chalifmann3Wachstumskurs

19.03.11 15:24
Valero energy agreed on Friday to buy Chevron’s refinery in Pembroke, Wales, for $730 million and other related assets for about $1 billion.

The transaction is the latest move by a big oil company to refocus on exploration instead of less lucrative refining operations. Chevron has already agreed to sell refining assets in more than 20 countries, and it is looking to sell more operations in the Caribbean and Central America.

The deal also gives Valero, a major American oil refiner, its first significant foothold in Europe.

The Pembroke refinery has a throughput capacity of 270,000 barrels of oil a day, the vast majority of which is crude. Valero said it expected the purchase to immediately add to its earnings per share.

“We are pleased with the value generated from this transaction,” Mike Wirth, the executive vice president of Chevron Downstream and Chemicals, said in a statement. “This sale is consistent with our global strategy to focus our business on markets where we are well-positioned to deliver strong returns for our shareholders.”

The deal is expected to close in the third quarter this year.



1289 Postings, 4813 Tage Marshall Zhukovtja so ist das

19.03.11 15:41
vor 2 Jahren hätte man am liebsten alle Raffinerien zu gemacht weil die Margen im Keller waren, deswegen verabschieden sich auch die großen Ölkonzerne vom downstream geschäft, einfach zu langweilig. Hinzu kommt das Embargo gegen den Iran,eines der unsinnigsten Beschlüsse in der Geschichte unsinniger Beschlüsse.  

4713 Postings, 5533 Tage bierroLibyen

23.03.11 07:23
Tja, und heute morgen wurde bekannt, dass Libyen für mindestens ein Jahr kein Öl mehr fördern wird/kann.

Der Ölpreis ist mittlerweile mit knapp 116 USD nicht mehr sooo weit vom historischen Höchststand von 140 USD entfernt.

Ouo vadis, Valero?  

23601 Postings, 6191 Tage Chalifmann3Valero restarting HOC after leak

30.03.11 07:10
BANGALORE, March 29 (Reuters) - Valero Energy Corp (VLO.N) said Tuesday it was restarting a heavy oil cracker (HOC) following the maintenance on a leak at the west plant of its 142,000 barrel-per-day refinery in Corpus Christi, Texas.

The company had earlier reported a planned startup following a maintenance at the refinery in a filing with state regulators.[ID:nWNAB1310]

"This (the filing) is related to the work at the HOC today. It was filed in anticipation of possible emissions as feed is reintroduced to the unit," Valero spokesman Bill day said.

The startup will be completed by Wednesday evening.

The heavy oil cracker at the west plant was also shut for about a week this month for repairs.

The company, however, sees no material impact on production due to the HOC leak.

The Corpus Christi west plant specializes in the production of environmentally clean fuels and products, primarily reformulated gasoline (RFG) and ultra-low-sulfur diesel. (Reporting by Soma Das in Bangalore; Editing by


4713 Postings, 5533 Tage bierroRichtig verstanden?

30.03.11 14:51
Ein HOC ist ein Öltanker? Dieser wurde im Zuge der Reparatur an einem Leck in einem Ölfeld gleich neu überholt und nun in Betrieb genommen.

Have I got that right?  

23601 Postings, 6191 Tage Chalifmann3Ich weiss auch nicht so genau ...

30.03.11 17:38
HOC = Heavy Oil Cracker !

also,wenn das ein Öltanker ist,hat der wohl ein Leck gehabt,was jetzt geschlossen ist ....

BTW: Ich habe dich schon angemailt,bierro,ich habe einen VLO- Alternativ Thread aufgemacht,falls dir das hier zu wenig risiko ist : Crimson Exploration ; schau mal rein ....


23601 Postings, 6191 Tage Chalifmann3Analysts Bullish On Valeros Future

31.03.11 11:17
Analysts Bullish On Valero’s Future
Mar. 30 2011 - 1:00 pm | 1,914 views | 0 recommendations | 0 comments
The refiners are seeing boom times. With favorable crude spreads,Valero Energy (VLO - Analyst Report) is expected to grow earnings by double digits in both 2011 and 2012. Yet shares are still attractive at just 10 times forward estimates.

This Zacks #1 Rank (strong buy) manufactures power, fuels and other petrochemical products at 14 oil refineries, 10 ethanol plants and a 50-megawatt wind farm.

The company also operates 5,800 retail outlets for fuel in the U.S., Canada and the Caribbean under the Valero, Diamond Shamrock, Shamrock, Ultramar and Beacon brands.

No Added Business From Japanese Outages
After the Japanese earthquake took several of Japan’s refineries off-line, it was thought that refiners with big West Coast operations, like Valero, might benefit from new business.

But Valero’s CEO told Bloomberg on March 20 that Japan will not likely turn to the West Coast but will instead source mainly from other Asian markets and possibly the Gulf Coast, if supplies tighten.

Valero Expanding In the U.K.
On March 11, Valero announced it was purchasing Chevron’s Pembroke Refinery in Wales and extensive marketing and logistics assets throughout the U.K. and Ireland for $730 million, including the working capital, which is estimated at another $1 billion. The deal also includes ownership interests in 4 pipelines, 11 terminals and 1,000 service stations. The deal will be funded from available cash and is expected to close in the third quarter.

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The refinery is one of Europe’s largest, with a capacity of 270,000 barrels per day. It remained profitable even during the recession so Valero expects it to be immediately accretive to earnings.

First Quarter Interim Update
On March 2, Valero spooked investors by providing a first quarter earnings per share guidance of just 15 to 30 cents. That included an after-tax loss of $348 million, or 61 cents per share, on the closing of a hedged position.

The guidance threw estimates off a bit, as the first quarter Zacks Consensus Estimate has fluctuated over the past 60 days, rising 20 cents to 47 cents in that time. But it is down from 55 cents just 30 days ago as 7 estimates have risen and 3 have lowered in that time.

Valero is scheduled to report first quarter results on April 26.

Zacks Consensus Estimates Still Jump for 2011 and 2012
Because the first quarter included the one time hedging loss, analysts appear to be discounting that and looking at the crude spread that will fuel earnings this year. The 2011 Zacks Consensus Estimate has risen to $2.95 from $2.71 in the last month with 11 estimates revised higher and 3 lower in that time. That is earnings growth of 74%.

Analysts see the strong growth continuing in 2012 as well. Ten estimates have moved higher and 1 lower for the year in the last 30 days pushing the Zacks Consensus to $3.43 from $3.19 per share. That is another year of double digit earnings growth at 16.1%.

Shares At 52-Week Highs
Shares of Valero have surged to 52-week highs as the crude spreads have widened. But as you can see from the 5-year chart, they are still well off the 2007 highs.

There’s Still Value
Valero is not an expensive stock, despite the recent stock movement. Not only does it have a low P/E ratio, but its price-to-sales ratio is well under 1.0, at 0.2. VLO also has an attractive price-to-book ratio of 1.1, well under the 3.0 I use to determine “value.” As an added bonus, shareholders are rewarded with a small dividend of 0.8%

Angehängte Grafik:

1289 Postings, 4813 Tage Marshall ZhukovHeavy oil Cracker

14.07.11 19:01
ist eher ne Prozessanlage, wo Schweröl in leichtere Fraktionen gekrackt wird !  

1289 Postings, 4813 Tage Marshall Zhukovappropo

14.07.11 19:03
warum steht valero eigentlich so verhältnismäßig tief im vergleich zu 2008?  

11 Postings, 4607 Tage kiendies amis ächzen ja

14.04.12 09:19

wieso profitiert Valero Energy nicht von den steigenden kraftstoffpreisen???

Der Staatschef sieht sich wenige Monate vor  der Präsidentschaftswahl wegen der steigenden Benzinpreise Kritik der  Republikaner ausgesetzt, die seine Energiepolitik für die hohen Kosten  an den Zapfsäulen verantwortlich machen. Während der Preis für eine  Gallone (3,78 Liter) Benzin zwischen 1998 und 2004 zwischen ein und zwei  Dollar lagen, liegt er heute im nationalen Durchschnitt bei 3,88 Dollar  (2,96 Euro). Der US-Automobilverband AAA rechnet bis Mai mit einem  Anstieg auf durchschnittlich 4,25 Dollar pro Gallone.


422 Postings, 4257 Tage natahereLöschung

04.10.12 11:53

Zeitpunkt: 11.10.12 14:16
Aktion: Löschung des Beitrages
Kommentar: Regelverstoß - Spam. Spam-ID.



23601 Postings, 6191 Tage Chalifmann3@bierro

07.10.12 08:26
Hey bierro !

Schau mal,seit Threaderöffnung 100% gemacht ! Was lange währt ,wird eben doch gut: Top-Aktie !!


23601 Postings, 6191 Tage Chalifmann3hi bierro !

07.02.13 00:51
Bist du noch on board ? Wir liegen mittlerweile 170% vorne und es geht weiter aufwärts ! Ich hab mich eben doch nicht getäuscht in dieser aktie .....  

4713 Postings, 5533 Tage bierroEin Gedicht

11.03.13 17:06
Bei Crimson is der Chali long
Valero is grad net so schtrong

Die kaggt heit ab, man glaabt es kaum
dahin is mit dem Gottvertraun

Tja, Chali, die gute alte YRCW-Zeit, lol...

Dürrr hatte auch einen kleinen Einbruch. Zeit, etwas uffzepasse, es könnte jederzeit konsolideere in Dax und Dow.  
Angehängte Grafik:
vlo_-_duerr.png (verkleinert auf 90%) vergrößern

23601 Postings, 6191 Tage Chalifmann3hi bierro

12.03.13 15:55
Hey,was ist aus YRCW geworden,gibtas die noch ? Ich schreib übrigens auch sonette,vielleicht liefere ich eins nach,dass du in den YRCW Thread einstellen kannst:

YRCW find ich sowas von beschissen,  
so eng, rigide, irgendwie nicht gut;  
es macht mich ehrlich richtig krank zu wissen,  
daß wer YRCW kauft. Daß wer den Mut  

hat, heute noch so’n dumpfen Scheiß zu bauen;  
allein der Fakt, daß so ein Typ das tut,  
kann mir in echt den ganzen Tag versauen.  
Ich hab da eine Sperre. Und die Wut  

darüber, daß so’n abgefuckter Kacker  
mich mittels seiner Wichserein blockiert,  
schafft in mir Aggressionen auf den Macker.  

Ich tick nicht, was das Arschloch motiviert.  
Ich tick es echt nicht. Und wills echt nicht wissen:  
Ich find YRCW unheimlich beschissen ....


465 Postings, 3028 Tage uwe3hier gehts abwärts

07.02.16 15:09

644 Postings, 3050 Tage BroNineSpam

07.02.16 16:55
Wie meinst du das, uwe3?  

6310 Postings, 3027 Tage 1Quantummit stop-loss Gewinne absichern

18.05.18 08:48


403 Postings, 5284 Tage Justus Jonaszwar schon lange nix los hier, aber ...

23.01.20 23:49
... dennoch wollte ich kurz erwähnen, das VLO seine Dividende erhöht . +8,9%
Ka-ching !  

173 Postings, 4466 Tage ignisfangenerelle

17.04.20 15:47
Raffinerie Probleme in Corona Crisis,

mM: der Zeitpunkt des Einstieges wird es entscheiden  

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