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VLO - Valero: Another Strong Quarter But Crack Spreads Less Favorable Downgrading To Hold
May, 15 2023 02:38 AM
Valero Energy Corporation
2023-05-15 02:38:08 ET
Summary The Energy sector has been the worst-performing area of the stock market this year as oil prices have sagged. With still-decent gasoline demand, crack spreads have wavered lower, hurting profitability of refiners. I still see Valero's intrinsic value above the current stock price, but macro headwinds, weaker cracks, and a technical breakdown are concerning. For further details see:
Valero: Another Strong Quarter But Crack Spreads Less Favorable, Downgrading To Hold
Stock Information
Company Name:
Valero Energy Corporation
Stock Symbol:
VLO
Market:
NYSE
Website:
valero.com
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