r59: VLO
West Texas oil was up over $53 today. So why was Valero down? The pipeline cancellation might be a factor, I don't know.
Last year, VLO moved in tandem with oil prices. They announced their earnings this morning and the loss was much better than what analysts were predicting. I doubt that they will print black ink for the current quarter either. If they don't cut the dividend, this stock might be a good play for a 6-month hold, since gasoline consumption should be up a lot for the next quarter. The highways are packed around here. With the exception of daily work commuting, it looks normal. And schools are opening soon all over the country. That will boost gasoline consumption a lot--teachers driving, school buses, parents taking kids to school. And offices should be letting employees back into the office by summer.
Is this going to be an $80 stock in 6 months with a big dividend while U wait? Thoughts?
