Today’s Research Reports on Trending Tickers: Valero Energy and Marathon Petroleum
A selloff in technology stocks and elevated bond yields combined to pressure U.S. equities lower on Thursday. The Dow Jones Industrial Average dropped 0.22 percent to close at 24,713.98, while the S&P 500 Index declined 0.09 percent to close at 2,720.13. The Nasdaq Composite Index fell 0.21 percent to close at 7,382.47.
“Interest rates and bond yields are the elephant in the room for equity markets. As they move higher, equities will become increasingly volatile, especially since valuations are stretched and on the high side,” said Bill Kornitzer, portfolio manager at Buffalo Funds, which has about $7.5 billion in assets.
RDI Initiates Coverage on:
Valero Energy Corporation
Marathon Petroleum Corporation
Valero Energy’s stock jumped 4.1% Thursday, to close the day at $119.71. The stock recorded a trading volume of 5,888,468 shares, which was above its three months average volume of 3,533,861 shares. In the last year, Valero Energy’s shares have traded in a range of 60.69 – 121.04. The share price has gained 97.25% from its 52 week low. The company’s shares are currently trading above their 200-day moving average. The stock’s 50-day moving average of $106.88 is above its 200-day moving average of $94.13. Shares of the company are trading at a Price to Earnings ratio of 13.08. Shares of Valero Energy have gained roughly 12.2 percent in the past month and are up 30.25 percent year-to-date.
Access RDI’s Valero Energy Corporation Research Report at:
On Thursday, shares of Marathon Petroleum recorded a trading volume of 9,675,608 shares, which was above the three months average volume of 5,062,212 shares. The stock ended the day 5.19% higher at $80.71. The share price has fallen 3.07% from its 52 week high with a 52 week trading range of 49.30 – 83.27. The company’s shares are currently trading above their 200-day moving average. The stock’s 50-day moving average of $76.49 is above its 200-day moving average of $69.05. Shares of the company are trading at a Price to Earnings ratio of 12.05. Shares of Marathon Petroleum have gained roughly 2.75 percent in the past month and are up 22.32 percent year-to-date.
Access RDI’s Marathon Petroleum Corporation Research Report at:
Our Actionable Research on Valero Energy Corporation (NYSE:VLO) and Marathon Petroleum Corporation (NYSE:MPC) can be downloaded free of charge at Research Driven Investing.
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