12 Best Energy Stocks to Buy Now
OptionsZone Experts, June 3, 2009
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Energy Play #6: Valero Energy Corp. (VLO)
By Nick Atkeson and Andrew Houghton
Earnings estimates for Valero Energy Corp. (VLO) are $2.40 this year and $3.34 next year. On next year's expected earnings, the stock is trading just about six times. The stock has been depressed partly because it reported a loss in 2008 on a large goodwill charge -- a non-cash charge.
Valero is the lowest-cost refiner in the industry. Some industry experts believe the price per barrel of oil will approach $80 from the current $67, as marginal demand continues to increase from Chindia and the United States goes into the summer drive season.
See why one expert thinks oil prices are poised to jump as much as 70%.
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