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Here's Why Valero (VLO) is an Attractive Investment Bet
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Valero Energy Corporation (VLO - Free Report) has seen upward earnings estimate revisions for 2022 and 2023 in the past seven days. The stock, sporting a Zacks Rank #1 (Strong Buy), is likely to witness earnings growth of 849.8% this year.
What’s Favoring the Stock?
Valero is a best-in-class oil refiner involved in producing fuels and products that can meet the demand of modern life. Its refineries are located across the United States, Canada and the U.K. A total of 15 petroleum refineries where Valero has ownership interests have a total combined throughput capacity of approximately 3.2 million barrels per day.
The Renewable Diesel business segment of VLO comprises the Diamond Green Diesel (DGD) joint venture. The DGD, a joint venture between Darling Ingredients Inc. and Valero, is a leading renewable fuel producer in North America. Low-carbon fuel policies across the globe primarily are aiding the demand for renewable diesel, therefore driving Valero’s Renewable Diesel business unit.
Valero boasts that its premium refining operations are resilient even when the business operating environment is carbon-constrained. Its refining business has capabilities to generate handsome cashflows that would allow it to return capital to shareholders and back growth projects.
The positive oil price trajectory is a boon for BP’s upstream operations. The favorable oil price scenario and increasing daily oil equivalent production volumes are aiding the energy giant’s bottom line. BP stated that the target of adding a net production of 900 thousand barrels of oil equivalent per day by 2021 from key new projects has been delivered.
In the core of gas-rich Marcellus and Utica Shales, EQT Corporation has a strong foothold. Being a leading producer of natural gas, EQT is benefiting from high natural gas price. For 2022, it is likely to witness earnings growth of 323.9%.
Eni is expecting the discovery of 700 million barrels of oil equivalent (BoE) of new exploration resources this year, suggesting an improvement from the prior guidance of 600 million BoE. For 2022, Eni is likely to witness earnings growth of 165.9%.
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Here's Why Valero (VLO) is an Attractive Investment Bet
Valero Energy Corporation (VLO - Free Report) has seen upward earnings estimate revisions for 2022 and 2023 in the past seven days. The stock, sporting a Zacks Rank #1 (Strong Buy), is likely to witness earnings growth of 849.8% this year.
What’s Favoring the Stock?
Valero is a best-in-class oil refiner involved in producing fuels and products that can meet the demand of modern life. Its refineries are located across the United States, Canada and the U.K. A total of 15 petroleum refineries where Valero has ownership interests have a total combined throughput capacity of approximately 3.2 million barrels per day.
The Renewable Diesel business segment of VLO comprises the Diamond Green Diesel (DGD) joint venture. The DGD, a joint venture between Darling Ingredients Inc. and Valero, is a leading renewable fuel producer in North America. Low-carbon fuel policies across the globe primarily are aiding the demand for renewable diesel, therefore driving Valero’s Renewable Diesel business unit.
Valero boasts that its premium refining operations are resilient even when the business operating environment is carbon-constrained. Its refining business has capabilities to generate handsome cashflows that would allow it to return capital to shareholders and back growth projects.
Other Stocks to Consider
Other prospective players in the energy space include BP plc (BP - Free Report) , EQT Corporation (EQT - Free Report) and Eni SpA (E - Free Report) . While BP and Eni carry a Zacks Rank #2 (Buy), EQT sports a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The positive oil price trajectory is a boon for BP’s upstream operations. The favorable oil price scenario and increasing daily oil equivalent production volumes are aiding the energy giant’s bottom line. BP stated that the target of adding a net production of 900 thousand barrels of oil equivalent per day by 2021 from key new projects has been delivered.
In the core of gas-rich Marcellus and Utica Shales, EQT Corporation has a strong foothold. Being a leading producer of natural gas, EQT is benefiting from high natural gas price. For 2022, it is likely to witness earnings growth of 323.9%.
Eni is expecting the discovery of 700 million barrels of oil equivalent (BoE) of new exploration resources this year, suggesting an improvement from the prior guidance of 600 million BoE. For 2022, Eni is likely to witness earnings growth of 165.9%.