Valero Energy Corporation’s stock price takes a hit, dropping 3.40% to land at 148.38 USD

Valero Energy Corporation (VLO)

148.38 USD -5.22 (-3.40%) Volume: 3.79M

Valero Energy Corporation’s stock price stands at 148.38 USD, witnessing a dip of 3.40% this trading session, amid a trading volume of 3.79M. Despite the recent drop, VLO has shown resilience with a YTD percentage change of +14.14%, highlighting its promising investment potential.

Latest developments on Valero Energy Corporation

Despite facing losses on the day, Valero Energy Corp. stock continues to outperform its competitors, garnering high returns and maintaining investor interest. With the company set to announce its second quarter 2024 earnings results on July 25, 2024, market sentiment remains positive towards Valero Energy (NYSE:VLO). Although the stock rises, it still lags behind the overall market, as evidenced by Schroder Investment Management Group selling 20688 shares of Valero Energy Co. Institutional ownership stands at 83%, making Valero Energy a favorite among major investors like Mosley Wealth Management and Symmetry Investments LP.

Valero Energy Corporation on Smartkarma

Analysts at Baptista Research on Smartkarma are bullish on Valero Energy Corporation, highlighting the company’s strong financial performance in recent quarters. In a report titled “Valero Energy Corporation: Growth in Renewable Diesel and Ethanol A Major Growth Catalyst? – Major Drivers,” the analysts noted that Valero achieved a net income of $1.2 billion in Q1 2024, thanks to stable refining margins and high demand for diesel and gasoline. The report also mentions the company’s ability to maximize output despite extensive planned maintenance across their refining system.

In 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,” analysts highlighted Valero’s strong financial results for the fourth quarter of 2023. The company recorded the highest fourth quarter and full-year adjusted earnings in its history, with a mechanical availability of 97.4% in the refining system. Valero’s record sales volume in 2023 further demonstrates the strength of its branded and wholesale marketing network, indicating a positive outlook for the company’s future performance.

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 its Smartkarma Smart Scores. With a high score in Growth, the company is expected to see strong development and expansion in the future. This indicates potential for increased profitability and market share for Valero Energy.

Additionally, Valero Energy scores well in Resilience, suggesting that the company is well-equipped to withstand market fluctuations and economic challenges. This resilience, combined with solid scores in Value, Dividend, and Momentum, positions Valero Energy favorably for long-term success in the petroleum industry. Overall, the company’s diverse product offerings and strategic refinery locations in the United States, Canada, and Aruba contribute to its positive outlook.

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