Valero Energy Corporation
- Open
- 363.92
- Day high
- 364.90
- Day low
- 356.23
- Prev close
- 358.92
- Volume
- 2.7M
- Mkt cap
- $104.2B
- P/E (TTM)
- 15.0
- EPS (TTM)
- $24.12
- P/B
- 4.2
- P/S
- 0.8
- Yield
- 0.99%
- Per share
- $3.60
- ▼Insiders net selling -$3.8M over the last 3 months (0 open-market buys, 2 sales)
- 🏛Institutions accumulating (13F)
Valero Energy Corporation (VLO) is a Energy company listed on NYSE. The stock is up 134% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 2 sales (SEC Form 4). Drillr has 21 published research articles covering VLO.
Valero Energy Corporation (VLO) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 11 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
VLO earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Jul 30, 2026 | $10.03 | $12.54 | +25.1% | $44.5B | +14.1% |
| Apr 30, 2026 | $3.12 | $4.22 | +35.3% | $32.4B | +3.6% |
| Jan 29, 2026 | $3.27 | $3.82 | +16.8% | $31.7B | +11.4% |
| Oct 23, 2025 | $3.05 | $3.66 | +20.0% | $32.2B | +7.5% |
| Jul 24, 2025 | $1.73 | $2.28 | +31.9% | $29.9B | +7.9% |
| Apr 24, 2025 | $0.41 | $0.89 | +116.9% | $30.3B | +5.3% |
| Jan 30, 2025 | $0.07 | $0.64 | +829.2% | $30.8B | +2.2% |
| Oct 24, 2024 | $0.98 | $1.14 | +16.3% | $32.9B | +5.3% |
| Jul 25, 2024 | $2.61 | $2.71 | +3.8% | $34.5B | +5.4% |
| Apr 25, 2024 | $3.24 | $3.82 | +17.9% | $31.7B | -1.5% |
| Jan 25, 2024 | $2.96 | $3.55 | +19.9% | $35.4B | -1.3% |
| Oct 26, 2023 | $7.47 | $7.49 | +0.3% | $38.4B | -0.4% |
VLO insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jun 30, 2026 | Fisher Eric Aofficer: SVP | Sell | 7,500 | $268.17 |
| Jun 18, 2026 | Fisher Eric Aofficer: SVP | Sell | 7,500 | $236.90 |
| May 20, 2026 | Fisher Eric Aofficer: SVP | Sell | 7,500 | $251.61 |
| May 11, 2026 | Mullins Eric D.director | Grant | 939 | — |
| May 11, 2026 | WILKINS RAYFORD JRdirector | Grant | 939 | — |
| May 11, 2026 | Majoras Deborah Pdirector | Grant | 939 | — |
| May 11, 2026 | Reymond Robert Ldirector | Grant | 939 | — |
| May 11, 2026 | EBERHART PAULETTdirector | Grant | 939 | — |
| May 11, 2026 | Diaz Fred Mdirector | Grant | 939 | — |
| May 11, 2026 | Greene Kimberly S,director | Grant | 939 | — |
| May 11, 2026 | Ffolkes Marie Adirector | Grant | 939 | — |
| May 11, 2026 | WEISENBURGER RANDALL Jdirector | Grant | 939 | — |
| May 7, 2026 | EBERHART PAULETTdirector | Option | 1,381 | — |
| May 7, 2026 | Diaz Fred Mdirector | Option | 1,381 | — |
| May 7, 2026 | WILKINS RAYFORD JRdirector | Option | 1,381 | — |
Source: VLO SEC Form 4 filings, latest Jun 30, 2026. For informational purposes only — not investment advice.
See the full VLO insider & 13F page →VLO research & analysis
SHEL: Hormuz Blockade Tightens LNG Supply for Majors
The Hormuz blockade creates a bifurcated outcome: LNG producers with Middle East assets (Shell, ExxonMobil, TotalEnergies) face 2-3 quarter supply disruptions and margin compression, while refining-heavy majors and integrated producers with refining exposure benefit from crude-product spread widening. Consensus has treated all majors symmetrically on Brent upside, missing the structural divergence. LNG-heavy names should underperform the refining basket by 5-10% over the next 2-3 quarters.
SHELXOMCVXAirlines' Jet Fuel Costs Dwarf Refiners' Crack Spread Gains by 3:1 Margin
Persistent $150 crude jet fuel prices create a zero-sum margin transfer: airlines lose 8-10% operating income while refiners gain 12-15%. The market's focus on passenger surcharges misses the structural asymmetry. Long VLO/MPC paired with AAL/LUV targets +10-15% relative return over 3-6 months, breaking if jet fuel reverts to $90 by September or airlines outperform refiners by 5%+ over 120 days.
AALDALLUVWhich US Refiners Reap Most From Record Margins as Jet Fuel Doubles?
Record refining margins and jet fuel spikes position VLO, MPC and PSX for 15-25% Q2 beats, overlooked in consensus models. Coastal giants lead on complexity and scale versus mid-tiers. Falsifies on crack collapse below $15/bbl by Q3 end.
MPCPSXHFCEurope's 21-Hour Trading Days Are Boosting VLO, XOM & CVX Margins
Europe's surging energy market volatility, with traders facing 21-hour days per Bloomberg, spills over to boost US refining margins for Valero, Exxon, and Chevron while supercharging commodities trading at Goldman Sachs and JPMorgan. Recent financials show resilient FCF and margins, with VLO leading price gains at +43% over 3M. Bullish: Buy the dip for volatility-fueled profits.
XOMCVXGS$4 Gas Alert: MPC, VLO Surge While Ford and Costco Face the Squeeze
Strait of Hormuz threats fuel $4 gas fears, supercharging refiner margins for MPC and VLO while hitting Ford's truck sales and testing Costco's pricing power. Integrated majors XOM and CVX offer balanced upside amid volatility.
MPCXOMCVXIran Hormuz Tolls Threaten 20% of Oil Supply — XOM and CVX Top Winners as Asia Pivots
Iran's threatened Hormuz tolls on 20% of global oil flows are accelerating Asia's pivot to US exporters via barter deals. XOM and CVX top the winners with massive FCF and production ramps, while COP and refiners like MPC follow. Ranked conviction favors integrated upstream leaders amid tightening supply.
XOMCVXCOPUS Crude Exports Hit Record Highs: XOM Leads 6 Winners From Asia's Iran Pivot
US crude exports hit records on April 9 amid Iran disruptions, boosting exporters like XOM and CVX with Asian ties. Analysis ranks six majors by exposure, financials, and valuation, naming XOM the top pick.
XOMCVXCOPIran Asset Unfreeze Flips the Energy Trade — Refiners VLO and MPC Beat XOM and CVX
The U.S. release of frozen Iranian assets signals potential oil price relief, favoring refiners like VLO and MPC over upstream giants XOM, CVX, OXY, and COP in an energy paradox. Upstream has surged on conflict fears, but de-escalation exposes margin squeezes. Ranked picks highlight refiner upside at attractive valuations.
XOMCVXOXYS&P 500 Best Week Since November: NBIS Soared 37%, ULTA Dropped 19%
Anchored in the S&P 500's best week since November 2025, this analyzes cross-sector standouts: AI leaders NBIS, MU, TSEM soared 13-37% in days, energy VLO gained 8%, while ULTA and FICO dropped 19% each. Ranks NBIS top for conviction amid rotation rally.
NBISTSEMMUHormuz Blockade: COP, XOM Surge as VLO Eyes Margin Windfall — WMT Holds Firm
US Hormuz blockade announcement on April 12, 2026, propelled oil over $100/bbl, favoring upstream leaders like COP and XOM while WMT and UNP showcase resilience. Energy stocks rally amid a severed historical correlation, with refiners like VLO poised for margin expansion. Ranked picks prioritize pure-play exposure at attractive multiples.
XOMCVXCOPVenezuela Sanctions Lifted: VLO, MPC Get Cheap Crude Boost — COP and OXY Face Pressure
US sanctions relief on Venezuelan official Rodríguez paves way for heavy crude ramp, favoring Gulf refiners (VLO, MPC, PSX) via cheaper feedstock while pressuring shale producers (COP, OXY). Integrated XOM holds steady. Top picks: refiners at attractive multiples amid tight global capacity.
MPCPSXCOPRefining Margins Hit Record Highs — VLO, MPC, and PSX Are the Biggest Winners
As global refining margins reach unprecedented highs, US downstream energy companies are positioned to benefit significantly. This article analyzes key players like Valero Energy, Marathon Petroleum, and Phillips 66, highlighting their financial performance and growth potential in this favorable market environment.
MPCPSXHFCUS Naphtha Export Boom Lifts VLO and PSX 40% YTD — Can Refiners Run Further?
Trump-linked geopolitical actions have supercharged US naphtha exports, boosting Valero and Phillips 66 margins amid 40% YTD stock gains. Strong Q4 financials, high utilizations, and export infrastructure position refiners for multi-quarter profits. Bullish stance with $200+ targets.
PSXXLERecord US Fuel Exports Crush VLO and MPC Rivals — While UPS and FDX Pay the Price
Record March US fuel exports to Europe/Asia amid Middle East gaps boost refiner margins for VLO, MPC, PSX, while diesel costs pressure FDX, UPS, CSX. MPC tops conviction list at 17.8x P/E with midstream tailwinds; UPS lags with -17% 1Y return.
MPCPSXFDXUS Fuel Exports Hit Record High: Why VLO and MPC Are Primed for the Margin Boom
Record March US fuel exports to Europe/Asia amid Middle East gaps have ignited global refining margins, favoring Gulf Coast-heavy US refiners like VLO and MPC. We analyze six downstream leaders, ranking conviction based on export access, costs, and valuations amid the crack boom.
MPCPSXDINOIran Airstrike Aftermath: Why XOM's Rally Is Stalling While LMT Keeps Climbing
US withdrawal from Iran ops hands Hormuz patrols to others, risking disruptions that funnel Asian demand to US exporters. Exxon and Chevron lead with scale and growth, while ConocoPhillips offers value; refiners like MPC and VLO gain indirectly. Ranked picks favor upstream giants amid barter trade shifts.
XOMCVXCOP$4 Gas: VLO, MPC, XOM Margin Boom — While Ford and Costco Take the Hit
U.S. gasoline at $4/gallon boosts refiners like VLO, MPC, and XOM via fat margins, while hurting Ford, Booking, and even Costco through curbed spending. Valero tops conviction for pure-play exposure at attractive multiples.
MPCXOMFS&P 500's Best Week in 4 Months: 6 Cross-Sector Winners to Buy Now
The S&P 500's strongest week in four months highlights cross-sector winners like MU, VLO, CF, NIO, NBIS, and IREN, each with strong recent gains, growth metrics, and thematic tailwinds. Ranked by conviction, they offer positioning for continued broadening. Key risks include macro slowdowns and sector rotations.
MUCFNIOOil Hits $150 on Hormuz Crisis — XOM and CVX Lead as Asia Pivots to US Supply
Hormuz crisis spikes oil to $150/bbl, boosting US exporters as Asia pivots via barter. XOM and CVX lead with integrated Asia exposure; COP/OXY follow on upstream strength. Refiners MPC/VLO gain margins but rank lower.
XOMCVXCOPOil Supply Shock: XOM, CVX Surge While UAL, DAL Face Fuel Cost Crisis
Seaborne oil cargo prices surged on April 3, 2026, amid supply disruption fears, favoring energy producers like XOM, CVX, COP, and VLO while pressuring airlines UAL and DAL. Integrated majors lead with robust FCF and growth, ranked by conviction. Watch fuel cracks and OPEC+ for thesis confirmation.
XOMCVXCOP
Valero Energy Corporation company profile
Overview
Valero Energy Corporation (NYSE:VLO) is one of the largest independent petroleum refiners in the United States, founded in 1980 and headquartered in San Antonio, Texas. The company emerged from a spin-off of refining assets and has grown through strategic acquisitions and expansions to become a major player in the energy sector. Valero operates an extensive network of petroleum refineries across North America and has diversified into renewable fuels production, including ethanol and renewable diesel. The company has evolved from a traditional refiner into a more integrated energy company, expanding its presence in low-carbon fuel production while maintaining its core refining operations.
Business
Valero operates in the oil refining and marketing industry, which involves converting crude oil into refined petroleum products that consumers and businesses use daily. The company's operations are divided into three main business segments that collectively generated approximately $130 billion in revenue in 2024. The Refining segment represents the core of Valero's business, accounting for the majority of revenues. This segment operates 15 petroleum refineries with a combined throughput capacity of approximately 3.2 million barrels per day. These facilities process crude oil into various products including gasoline, diesel fuel, jet fuel, and other petroleum products. The refining process involves heating crude oil and separating it into different components based on their boiling points, then further processing these components into finished products that meet specific quality standards. Valero's refineries are strategically located primarily along the U.S. Gulf Coast, with additional facilities in the Midwest, West Coast, and Canada. The Renewable Diesel segment produces renewable diesel and sustainable aviation fuel (SAF) from renewable feedstocks such as animal fats, used cooking oils, and plant oils. This segment operates through Diamond Green Diesel, a joint venture that processes these alternative feedstocks into diesel fuel that is chemically identical to petroleum diesel but with a significantly lower carbon footprint. The renewable diesel production capacity has grown substantially, with sales volumes averaging 3.4 million gallons per day in 2024. The Ethanol segment operates 12 ethanol plants with a combined production capacity of approximately 1.6 billion gallons per year. Ethanol is produced by fermenting corn and other agricultural feedstocks, creating a biofuel that is blended with gasoline to reduce emissions and extend fuel supply. This segment also produces valuable co-products including dried distillers grains used for animal feed. Valero markets its refined products through approximately 7,000 retail outlets under various brand names including Valero, Beacon, Diamond Shamrock, and Texaco, though the majority of sales occur through wholesale markets to other distributors and retailers.
Revenue model
Valero generates revenue primarily through product sales across its three business segments, with different margin structures and customer bases for each operation. The Refining business makes money through the "crack spread" - the difference between the cost of crude oil inputs and the selling price of refined products. Valero purchases crude oil from various suppliers globally and processes it into higher-value products like gasoline, diesel, and jet fuel. The company sells these products to wholesale distributors, other oil companies, airlines, and through its retail network. Refining margins fluctuate based on the supply-demand balance for both crude oil and refined products, with factors like seasonal driving patterns, economic activity, and refinery capacity utilization affecting profitability. The Renewable Diesel operation generates revenue by selling renewable diesel and sustainable aviation fuel at premium prices compared to conventional fuels, supported by government incentives and environmental credits. Customers include fuel distributors, airlines, and companies seeking to reduce their carbon footprint. The business benefits from various government programs including Renewable Identification Numbers (RINs), California's Low Carbon Fuel Standard (LCFS) credits, and federal production tax credits. The Ethanol segment sells ethanol primarily to gasoline blenders who are required by federal mandate to blend biofuels with gasoline. Revenue comes from both ethanol sales and co-products like dried distillers grains sold to animal feed customers. Several factors significantly impact Valero's margins. Crude oil price volatility affects input costs, while refined product demand driven by economic activity, driving seasons, and weather patterns influences selling prices. Refinery capacity utilization across the industry affects supply-demand balances and margins. Regulatory changes, particularly environmental regulations and biofuel mandates, can create both opportunities and cost pressures. Feedstock availability and pricing for renewable operations, especially waste oils and animal fats, directly impacts renewable diesel profitability. Government incentive programs and carbon credit values provide significant margin support for low-carbon fuel production but can change with policy shifts.
Competitive moat
Valero's competitive moat is moderate but facing increasing challenges from regulatory pressures and energy transition dynamics. The company's primary moat stems from its substantial scale advantages and strategic asset positioning, but these traditional strengths are being tested by evolving market conditions. The company's scale advantages provide meaningful cost benefits through purchasing power for crude oil and other inputs, operational efficiencies across its large refinery network, and the ability to optimize product mix based on market conditions. Valero's 3.2 million barrels per day of refining capacity makes it one of the largest independent refiners, providing negotiating leverage with suppliers and customers. Strategic geographic positioning offers another competitive advantage, with refineries located near key transportation hubs, ports, and pipeline infrastructure. The Gulf Coast concentration provides access to both domestic and international crude supplies while serving major population centers and export markets. However, Valero faces significant regulatory and transition risks that weaken its moat. The company's decision to close its Benicia, California refinery by 2026 highlights how stringent environmental regulations can make operations economically unviable. California's increasingly restrictive regulatory environment and carbon pricing mechanisms create ongoing cost pressures that competitors in other regions don't face. The energy transition presents long-term structural challenges to traditional refining operations. While Valero has invested in renewable diesel and sustainable aviation fuel production, these markets are becoming increasingly competitive as more players enter the space. Electric vehicle adoption, though gradual, represents a potential long-term headwind to gasoline demand. Competitive threats include integrated oil companies with upstream production capabilities that can better manage input cost volatility, as well as new entrants in renewable fuels who may have access to lower-cost feedstocks or more favorable regulatory treatment. The renewable diesel market, in particular, has attracted significant investment, potentially pressuring margins as supply increases.
Risks & safety
Valero demonstrates strong financial stability with adequate liquidity and manageable debt levels, though recent earnings volatility creates some uncertainty. **Liquidity and Solvency:** - Cash and short-term investments: $4.6 billion as of Q1 2025 - Current ratio: 1.56x indicating solid short-term liquidity - Debt-to-equity ratio: 0.46x representing moderate leverage - Free cash flow: $703 million in Q1 2025 despite operating losses, showing resilient cash generation **Valuation Metrics:** - Trading at 1.77x book value, reasonable for an asset-heavy business - Recent quarters show significant earnings volatility with Q1 2025 net loss of $652 million - Full year 2024 P/E ratio of 14.3x based on $3.0 billion net income - EV/EBITDA multiple varies dramatically with margin cycles **Other Considerations:** - Strong dividend policy with recent 6% increase demonstrates management confidence - Substantial capital return program with $4.3 billion returned to shareholders in 2024 - Exposure to commodity price volatility creates earnings unpredictability - Regulatory risks in key markets like California pose ongoing challenges
Recent development
Over the past few years, Valero has executed a strategic transformation focused on diversifying into low-carbon fuels while optimizing its traditional refining operations and managing regulatory challenges. The company's most significant strategic initiative has been expanding renewable fuel production. Valero successfully started up its Diamond Green Diesel Sustainable Aviation Fuel (SAF) project in late 2024, adding high-value sustainable aviation fuel production to its renewable diesel capabilities. The company has grown its renewable diesel sales volumes to 3.4 million gallons per day and is positioning itself to benefit from increasing SAF mandates in Europe and North America. In traditional refining operations, Valero has pursued high-return optimization projects rather than large-scale capacity additions. The company completed a major Port Arthur Coker project and is progressing with a $230 million FCC Unit Optimization project at its St. Charles refinery expected to complete in 2026, which will increase high-octane alkylate production by 6,000-7,000 barrels per day. A major strategic decision was the announcement to cease refining operations at the Benicia, California refinery by April 2026. This reflects Valero's pragmatic approach to managing regulatory pressures and high operating costs in California's challenging business environment. The company continues to evaluate strategic alternatives for its West Coast assets. Valero has also focused on capital discipline and shareholder returns, maintaining a policy of returning excess cash to shareholders through dividends and share buybacks. The company returned $4.3 billion to stockholders in 2024 and recently increased its quarterly dividend by 6%, demonstrating confidence in its cash generation capabilities despite margin pressures. The company has been adapting to changing policy environments, particularly the transition from Renewable Identification Numbers (RINs) to new Production Tax Credit (PTC) regimes for renewable fuels, positioning its operations to optimize under evolving regulatory frameworks.
VLO company profile · for informational purposes only — not investment advice.
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