Valero Energy (VLO)
Refiner and fuel marketer with renewable diesel and ethanol operations.
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Refines and markets gasoline, diesel, jet fuel, and petrochemical products across North America and the United Kingdom, with smaller renewable diesel and ethanol businesses. Refining margins depend on purchased feedstock costs versus product prices, while fuel regulations impose compliance costs and support lower-carbon fuel demand.
Manufactures and markets gasoline, diesel, jet fuel, and petrochemical products through the Refining segment. Refineries span the United States, Canada, and the United Kingdom; wholesale and bulk sales also reach Ireland and Latin America. Marine, pipeline, and terminal connections support feedstock sourcing and exports.
The Renewable Diesel segment produces renewable diesel, renewable naphtha, and sustainable aviation fuel through the Diamond Green Diesel joint venture. The Ethanol segment makes ethanol and distillers grains at Mid-Continent plants. Benicia has ceased fuel production, with customer supply continuing through imports and other arrangements.
Refining remains the dominant business. Earnings depend on spreads between purchased feedstock costs and product prices; renewable-fuel programs impose refining compliance costs and support lower-carbon fuel credits.
Company facts
Target rangeAs of Sep 22, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Sep 23, 2026 | Goldman Sachs | Reiterate | Rating: —Target: $357 | Target: $457 |
| Sep 22, 2026 | Jefferies | Downgrade | ||
| Sep 21, 2026 | Jefferies | Downgrade | Target: $350 | Target: $401 |
| Sep 14, 2026 | Raymond James | Reiterate | Rating: —Target: $340 | Target: $450 |
| Sep 14, 2026 | Morgan Stanley | Reiterate | Rating: —Target: $255 | Target: $411 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $7.87B · Total debt $11.35B · Total assets $64.66B · Shareholders' equity $25.00B
- Revenue
- $36.65B
- Operating income
- $5.20B
- Net income
- $3.72B
HistoryDividendAnnual yield
| Institutions | 86.36% | 248.65M shares | |
|---|---|---|---|
| 2,055 holders · as of Jun 30, 2026 | |||
| Insiders | 0.59% | 1.69M shares | |
| 16 holders · as of Sep 21, 2026 | |||
| Other | 13.05% | 37.59M shares | |
| remainder | |||
287.93M company shares as of Aug 21, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
BlackRock, Inc.Institution | 8.73% | 25.14M | as of Jun 30, 2026 |
Vanguard Capital Management LLCInstitution | 6.74% | 19.39M | as of Jun 30, 2026 |
State Street CorpInstitution | 6.57% | 18.90M | as of Jun 30, 2026 |
Vanguard Portfolio Management LLCInstitution | 5.16% | 14.85M | as of Jun 30, 2026 |
FMR LLCInstitution | 2.95% | 8.50M | as of Jun 30, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Jun 29, 2026 | Eric A. Fisher | officer: SVP | −7,500 | $268.17 |
| Jun 18, 2026 | Eric A. Fisher | officer: SVP | −7,500 | $236.90 |
| May 18, 2026 | Eric A. Fisher | officer: SVP | −7,500 | $251.61 |
| Mar 12, 2026 | Eric A. Fisher | officer: SVP | −400 | $238.60 |
| Mar 11, 2026 | Eric A. Fisher | officer: SVP | −8,311 | $227.69 |
- Marathon Petroleum
Closest capacity-scale peer; ~3M bpd refining plus growing renewable diesel.
- Phillips 66
Independent refiner with Rodeo Renewed — ~800M gal/yr renewable fuel complex.
- ExxonMobil
World-scale integrated refiner; Gulf Coast downstream rivals all VLO markets.
- PBF Energy
Pure-play refiner on acquired major assets; East Coast, Gulf, and West Coast.
- Chevron
Integrated major; West Coast refining leader with REG renewable diesel assets.
- HF Sinclair
Mid-Continent refiner with ~380M gal/yr renewable diesel in western US.
Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Valero Energy | $374.60 | −0.67% | $108.59B | 15.6 | 7.6 | 0.8 | +48.8% |
| Marathon Petroleum | $387.21 | −0.63% | $113.76B | 13.4 | 6.5 | 0.7 | +54.9% |
| Phillips 66 | $253.16 | −1.41% | $102.95B | 14.6 | 8.0 | 0.7 | +55.9% |
| ExxonMobil | $161.24 | +1.61% | $657.68B | 20.4 | 13.2 | 1.8 | +46.0% |
| PBF Energy | $70.23 | −1.69% | $8.47B | 6.3 | 3.1 | 0.2 | +56.2% |
| Chevron | $205.68 | +1.61% | $403.16B | 19.4 | 12.8 | 1.9 | +57.9% |
| HF Sinclair | $105.06 | −1.53% | $18.97B | 10.1 | 6.2 | 0.6 | +53.2% |
| Median | 14.0 | 7.2 | 0.7 | +55.4% |