Simmons Remains Sidelined on Valero Energy (VLO) - PT to $63
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Valero Energy Reports First Quarter 2016 Results
May 3, 2016 7:06 AM EDTReported adjusted earnings of $283 million, or $0.60 per share, for the first quarter, which excludes a net after tax benefit of $212 million, or $0.45 per share, related to the change in the companys lower of cost or market inventory valuation reserveCompleted the St. Charles gasoil hydrocracker expansion project in March and the Houston crude unit is on track to start up in the second quarterReturned $547 million in cash to stockholders through dividends and stock buybacksCompleted the McKee Terminal Services Business drop down to Valero Energy Partners LP for total consideration of $240 million on April 1... More
