Analysts Downgrade These 2 Energy Stocks in December

Wall St. Watchdog reveals information about companies for which stock analysts downgraded shares in the Basic Materials sector for the week ending December 9th, 2011.

  • Valero Energy (NYSE:VLO): The Benchmark Company downgraded its rating on this company from Buy to Hold and changed its price target to $23 on Dec 5th. The shares recently traded at $20.70, down $2.1, or 9.21% since the analyst’s rating. About the company: Valero Energy Corporation is an independent petroleum refining and marketing company that owns and operates refineries in the United States, Canada, and Aruba. The Company produces conventional gasolines, distillates, jet fuel, asphalt, petrochemicals, lubricants, and other refined products as well as diesel fuel, low-sulfur and ultra-low-sulfur diesel fuel, and oxygenates. Get the most recent company news and stock data here >>
  • Continental Resources (NYSE:CLR): Howard Weil downgraded its rating on this company from Market Outperform to Market Perform and changed its price target to $79 on Dec 6th. The shares recently traded at $67.19, down $4.25, or 5.95% since the analyst’s rating. About the company: Continental Resources, Inc. and its subsidiaries explore, exploit, develop, and acquire oil and gas reserves, primarily in the Rocky Mountains and the MidContinent, as well as in the Gulf Coast region of Texas and Louisiana. The Company also owns and operates natural gas pipelines, gathering systems, and processing plants. Get the most recent company news and stock data here >>
  • Valero Energy (NYSE:VLO): RBC Capital Mkts downgraded its rating on this company from Top Pick to Outperform and changed its price target from $33 to $32 on Dec 8th. The shares recently traded at $20.70, down $0.18, or 0.86% since the analyst’s rating. About the company: Valero Energy Corporation is an independent petroleum refining and marketing company that owns and operates refineries in the United States, Canada, and Aruba. The Company produces conventional gasolines, distillates, jet fuel, asphalt, petrochemicals, lubricants, and other refined products as well as diesel fuel, low-sulfur and ultra-low-sulfur diesel fuel, and oxygenates. Get the most recent company news and stock data here >>

(Note: Selected financial data are sourced from Briefing.com via the Wall St. Journal. All data are assumed to be accurate.)

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