By Paul Sankey
Published on April 25, 2022 at 8:58 AM
With the company reporting tomorrow, a client asked if it was time to sell Valero with the stock over $100/share. Our first target was $120 prior to the Ukraine invasion. We now think that $150/share is a stretch target. For your consideration: Using VLO’s reported indicators as a starting point, we see momentum established in late 1Q has carried through to 2Q so far. These are straight off the VLO website: We’re in uncharted territory […]
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By Paul Sankey
Published on April 24, 2022 at 5:46 PM
Quick read today as you got a longer note yesterday on LNG, and I am running late. Just pictures today, and Betsey asked to be on the cover of the Sunday Sankey so it’s a presentation. All the fun favourite charts. Key slides: next week’s earnings highlights starting with Valero. Relative performance, oils performance, high free cashflow yields, and a cash return chart that will be updated on a rolling basis through earnings. Earnings calendar […]
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By Paul Sankey
Published on April 20, 2022 at 9:43 AM
The only good number in oil is the oil price The only good demand number in oil is refining margins The only barrier of entry to being an oil analyst is units You are only as good as your last call CNBC want me on this afternoon – unusually they booked me two weeks ago – for the second anniversary of oil prices going negative. Let me go to the grave saying I called for […]
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