Billionaire Andreas Halvorsen’s New Stock Picks
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We track quarterly 13F filings from hundreds of hedge funds, including billionaire (and Tiger Cub) Andreas Halvorsen’s Viking Global. We have found that the information in 13Fs can be used to develop profitable investing strategies; for example, the most popular small cap stocks among hedge funds earn an average excess return of 18 percentage points per year (learn more about our small cap strategy). By comparing the most recent filing to the previous one recorded in our database, we can also identify new picks that were added to an individual manager’s portfolio in the intervening time. These picks can serve as initial investment ideas, and investors can do more research on any stocks that sound appealing. Read on for our quick take on Viking Global’s five largest new holdings from the first quarter of 2013 (or see the full list of the fund's stock picks). Valero Energy (NYSE: VLO), a $21 billion market cap oil and gas refining and marketing company, was another of Viking Global’s new picks. The stock trades at 6 times earnings, whether we use trailing numbers or analyst consensus for 2014 in our analysis; really, the entire downstream portion of the oil and gas industry is carrying low multiples at this time. With analysts expecting Valero to increase its earnings over the next several years, the five-year PEG ratio is 0.7 and we think it’s well worth considering as a value stock alongside its peers.
http://beta.fool.com/insidermonkey/2013/07/01/billionaire-andreas-halvorsens-new-stock-picks/37355/
Valero Starts Up New Hydrocracker Unit at St. Charles Refinery SAN ANTONIO, July 11, 2013 - The new hydrocracker unit at the Valero St. Charles Refinery has successfully and safely begun operations and is increasing toward planned rates. The new hydrocracker unit's throughput is rated at 60,000 barrels per day. Valero started up a similar hydrocracker at its Port Arthur refinery in December 2012.
SAN ANTONIO, July 11, 2013 - The new hydrocracker unit at the Valero St. Charles Refinery has successfully and safely begun operations and is increasing toward planned rates. The new hydrocracker unit's throughput is rated at 60,000 barrels per day. Valero started up a similar hydrocracker at its Port Arthur refinery in December 2012. The hydrocrackers were designed to capitalize on high crude oil and low natural gas prices, and produce primarily diesel to meet growing demand in both domestic and export markets. Each of the units cost about $1.6 billion to construct. Valero is pursuing projects to expand throughput capacity to 75,000 barrels per day at each of the new hydrocrackers. With successful permitting, the expansion projects are expected to be complete in 2015. In addition, Valero is pursuing a 20,000-barrel-per-day expansion of the existing hydrocracker at its Meraux refinery that should be complete by the end of 2014. About Valero Valero Energy Corporation, through its subsidiaries, is an international manufacturer and marketer of transportation fuels, other petrochemical products and power. Valero subsidiaries employ approximately 10,500 people, and assets include 16 petroleum refineries with a combined throughput capacity of approximately 3 million barrels per day, 10 ethanol plants with a combined production capacity of 1.2 billion gallons per year, and a 50-megawatt wind farm. More than 7,300 outlets carry the Valero, Diamond Shamrock, Shamrock and Beacon brands in the United States and the Caribbean; Ultramar in Canada; and Texaco in the United Kingdom and Ireland. Valero is a Fortune 500 company based in San Antonio. Please visit www.valero.com for more information. Contacts Investors: Ashley Smith, Vice President - Investor Relations, 210-345-2744 Media: Bill Day, Vice President - Community and Media Relations, 210-345-2928 Safe-Harbor Statement Statements contained in this release that state the company's or management's expectations or predictions of the future are forward-looking statements intended to be covered by the safe harbor provisions of the Securities Act of 1933 and the Securities Exchange Act of 1934. The words "believe," "expect," "should," "estimates," "intend," and other similar expressions identify forward- looking statements. It is important to note that actual results could differ materially from those projected in such forward-looking statements. For more information concerning factors that could cause actual results to differ from those expressed or forecasted, see Valero's annual reports on Form 10-K and quarterly reports on Form 10-Q, filed with the Securities and Exchange Commission and on Valero's website at www.valero.com. This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that: (i) the releases contained herein are protected by copyright and other applicable laws; and (ii) they are solely responsible for the content, accuracy and originality of the information contained therein. Source: Valero Energy Corporation via Thomson Reuters ONE [HUG#1715919]