Orlando, FL -- (SBWIRE) -- 09/16/2013 -- Hot Stock Profits provides investors and traders with valuable trading tools and content as well as micro-cap stock alerts via eMail and text messages. To Join Our Text Message Alerts Service Just Text The Word Stocks To 555888 From Your Cell Phone. Our Focus Today Is On Valero Energy Corporation (NYSE:VLO), Exxon Mobil Corporation (NYSE:XOM).
Valero Energy Corporation (NYSE:VLO) shares jumped 1.01% to $35.05. The company on Sept. 12 increased capital-expenditure projections for next year and revealed a handful of project delays at its refineries. Valero released a slideshow ahead of a Barclays investor conference on Sept. 12. In addition, expansion projects in the Port Arthur and Lake Charles refineries in Loiuisiana were postponed to 2018 from 2015.
Additionally, the Board of Directors of Valero Energy on July 25 has approved an increase in the company's regular quarterly cash dividend on common stock from $0.20 per share to $0.225 per share, effective with the quarterly dividend the Board has declared to be payable on September 11, 2013 to holders of record at the close of business on August 14, 2013. The increase in the dividend raises the annualized dividend rate on the company's common stock to $0.90 per common share.
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Exxon Mobil Corporation (NYSE:XOM) stock gained 0.48% to $88.40. The company on Sept. 11 was charged with illegally dumping more than 50,000 gallons (189,000 liters) of wastewater at a shale-gas drilling site in Pennsylvania. Exxon unit XTO Energy Inc. discharged the water from waste tanks at the Marquandt well site in Lycoming County in 2010, according to a statement on the website of Pennsylvania’s attorney general. The pollution was found during an unannounced visit by the state’s Department of Environmental Protection.
Additionally, the company on August 23 said it is selling over half of its 60 percent holding in Iraq's West Qurna-1 oilfield project to China's biggest energy firm PetroChina and Indonesia's Pertamina, Iraq's oil minister confirmed. "25 percent (stake) to PetroChina and 10 percent to Pertamina," Abdul Kareem Luaibi told Reuters on the sidelines of a ministerial meeting here.
Moreover, the company on August 1 said net income fell 57 percent in the second quarter on weaker refining results, lower production and minus a big gain in the year-ago quarter. The company earned $6.86 billion on revenue of $106.47 billion in the quarter. In last year's quarter, the company earned $15.9 billion on revenue of $127.36 billion. On a per-sharex basis Exxon earned $1.55. Analysts polled by FactSet expected Exxon to earn $1.90 per share. It was Exxon's lowest earnings per share since September of 2010
Is XOM going to continue its rally or drop like a rock? Find out with a free trend analysis HERE
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