Today’s Research Reports on Trending Tickers: Valero Energy and Phillips 66
Wall Street posted mixed results on Wednesday as tech shares weakened and trade tensions continued to rise. The Dow Jones Industrial Average gained 0.61 percent to close at 26,405.76, while the S&P 500 Index hiked 0.13 percent to close at 2,907.95. The Nasdaq Composite Index shed 0.08 percent to close at 7,950.04.
“We could be near peak political trade rhetoric, but without any visible effect on economic data, investors are just looking through the noise. We’re essentially still in a negotiation phase, and until we have set policies that we can evaluate, markets will continue to ignore this to a certain extent,” said chief investment officer of BNY Mellon’s Lockwood Advisors, Matt Forester.
“The U.S. environment remains very positive, and there’s a big difference between the sensitivity of the stock market to trade — which is most important to large U.S. stocks — and the sensitivity of the overall economy,” he added.
RDI Initiates Coverage on:
Valero Energy Corporation
Valero Energy’s stock moved 4.88% lower Wednesday, to close the day at $109.70. The stock recorded a trading volume of 5,033,521 shares, which was above its three months average volume of 2,845,756 shares. In the last year, Valero Energy’s shares have traded in a range of 72.51 – 126.98. The share price has gained 51.29% from its 52 week low. The company’s shares are currently trading below their 200-day moving average. The stock’s 50-day moving average of $116.23 is above its 200-day moving average of $110.06. Shares of the company are trading at a Price to Earnings ratio of 10.57. Shares of Valero Energy have fallen roughly 1.17 percent in the past month and are up 19.36 percent year-to-date.
Access RDI’s Valero Energy Corporation Research Report at:
On Wednesday, shares of Phillips 66 recorded a trading volume of 2,934,868 shares, which was above the three months average volume of 2,347,776 shares. The stock ended the day 3.48% lower at $109.36. The share price has fallen 11.79% from its 52 week high with a 52 week trading range of 88.77 – 123.97. The company’s shares are currently trading below their 200-day moving average. The stock’s 50-day moving average of $118.18 is above its 200-day moving average of $111.45. Shares of the company are trading at a Price to Earnings ratio of 9.25. Shares of Phillips 66 have fallen roughly 5.27 percent in the past month and are up 8.12 percent year-to-date.
Access RDI’s Phillips 66 Research Report at:
Our Actionable Research on Valero Energy Corporation (NYSE:VLO) and Phillips 66 (NYSE:PSX) can be downloaded free of charge at Research Driven Investing.
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