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Valero Energy Corp. |
$50 that VLO will jump like a beast after July ER.
VLO's current cash holding is currently $27-28/share. P/E ratio does
not mean jack right now. Once VLO turns in positive cash flow in Oct
ER, this stock will go back to its book value, and possibly a little
bit more.
The refining business is one of those brick and mortar businesses that
wont go bankrupt. Just relax and buy more if you like it. I am waiting
for a better price here. However, I do have some VLO already from the
18.xx range.
On Jun 30, 2:32 pm, ripcats <ripc...@gmail.com> wrote:
> http://online.wsj.com/article/SB124406968071982893.html
> On Jun 29, 10:17 am, NewDelhi <kennbartl...@gmail.com> wrote:
> > I was reading this article:
> > "Valero recently reported its first quarter 2009 results. The company
> > announced that its net income was 59 cents per share, compared to 48
> > cents per share in the first quarter of 2008. “We reported positive
> > earnings despite weaker demand,” said Bill Klesse, Valero’s Chairman
> > of the Board and Chief Executive Officer. “In fact, our first quarter
> > 2009 earnings per share were 23% higher than the first quarter of
> > 2008, and 64% higher if you exclude last year’s insurance recovery. In
> > all our regions, gasoline margins were unseasonably strong and nearly
> > double the level in the same quarter last year. Diesel and jet fuel
> > margins were also good in the first quarter despite being down from
> > last year’s high levels."
> > ...... and wondering why there isn't better price action in VLO. The
> > rise in Oil prices perhaps??? Going into the summer season with the
> > economy starting to recover and hurricanes coming I can't imagine this
> > stock goes much lower.- Hide quoted text -
> - Show quoted text -