Valero Energy Corporation’s Stock Price Drops to $152.78, Marking a 3.61% Decrease: Is it Time to Buy?

Valero Energy Corporation (VLO)

152.78 USD -5.72 (-3.61%) Volume: 2.42M

Valero Energy Corporation’s stock price is currently at 152.78 USD, experiencing a slight dip of -3.61% in this trading session with a trading volume of 2.42M. Despite the recent decline, VLO’s stock has shown a robust YTD increase of +17.52%, demonstrating its potential for long-term growth.

Latest developments on Valero Energy Corporation

Valero Energy Corp. stock experienced fluctuations today as First Trust Direct Indexing L.P. increased its stock holdings, while Teamwork Financial Advisors LLC sold a significant number of shares. Despite rising on Wednesday, the stock still underperformed the market. Kovack Advisors Inc. also reduced its position in Valero Energy Co., while State of Michigan Retirement System purchased shares. Silverlake Wealth Management LLC entered a new position in the company. JPMorgan Chase & Co. lowered Valero Energy‘s price target to $172.00, causing the stock to dip more than the broader markets. Additionally, State of Alaska Department of Revenue sold shares, and Sumitomo Mitsui Trust Holdings Inc. sold a significant number of shares as well.

Valero Energy Corporation on Smartkarma

Analysts at Baptista Research have been closely following Valero Energy Corporation on Smartkarma, a platform for independent investment research. In their report titled “Valero Energy Corporation: Growth in Renewable Diesel and Ethanol A Major Growth Catalyst? – Major Drivers,” they highlighted the company’s strong Q1 2024 performance, achieving a net income of $1.2 billion. The report noted that Valero’s stable refining margins were sustained by restricted product supplies, influenced by seasonal refining turnarounds and geopolitical events. Additionally, the high demand for diesel and gasoline further contributed to their success.

Another report by Baptista Research, titled “Valero Energy Corporation: Can The Turnaround In Refinery Operations & The Focus On Renewables Be A Game Changer? – Major Drivers,” discussed Valero’s strong financial results for the fourth quarter of 2023. The company achieved the highest fourth quarter and full-year adjusted earnings in its history, excluding 2022 results. With a mechanical availability of 97.4%, Valero demonstrated its commitment to safe and reliable operations. Setting a sales volume record in 2023, Valero’s marketing network’s strength was evident, capturing around 1 million barrels per day.

A look at Valero Energy Corporation Smart Scores

Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma

Valero Energy Corporation, an independent petroleum refining and marketing company, has received a positive long-term outlook based on the Smartkarma Smart Scores. With a strong score in growth, Valero Energy is positioned well for future expansion and development within the industry. Additionally, the company’s resilience score indicates its ability to withstand market fluctuations and challenges, providing stability for investors.

Although Valero Energy may not have the highest scores in value, dividend, or momentum, its overall outlook remains promising. The company’s diverse range of refined products and strategic refinery locations in the United States, Canada, and Aruba contribute to its competitive edge in the market. Investors can look towards Valero Energy as a solid long-term investment option within the petroleum industry.

Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
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