Valero Utilized Jones Act Waivers ~50 Times for 10M+ Barrels; Mizuho Raises Target to $289
VLO sits 94% above its 52-week low of $125.1.
Summary
Valero Energy utilized Jones Act waivers approximately 50 times over the past two months, enabling the shipment of about 2.6 million barrels of crude and 7.5 million barrels of refined products. This significant logistical activity suggests the company is actively managing its supply chain, potentially to optimize costs or navigate recent operational challenges at its refineries, including the Port Arthur shutdown and Corpus Christi flaring seen in the timeline. Separately, Mizuho raised its price target for Valero to $289.
At the time of this announcement, VLO was trading at $243.10 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $71.4B. The 52-week trading range was $125.10 to $263.75. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: Wiseek News.