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What investors are saying about Valero Energy (VLO)
Summary
In the past 30 days, 5 people on 5 investor and market shows discussed Valero Energy (VLO) in 5 views. Going by each speaker's latest call, 2 are bullish and 1 is bearish. Chorus has followed Valero Energy since October 6, 2026: 6 views from 5 people on 5 shows.
Who talks about it most
The latest views
Newest first. Every quote is checked against the episode's transcript.
Josh Brown · Ritholtz Wealth ManagementUncertain
Valero has a strong chart, but a refining sell-off tied to the crack spread could break the trend.
Brown shows Valero on the same chart as Phillips 66 and calls the refiners among the best energy stocks of 2026. Refiners are under pressure because the crack spread is rolling over. He says the sell-off today may end up invalidating the chart, which is why he builds stop losses into his write-ups.
“Now the sell off today may ultimately end up invalidating it, which is why we have stop losses built into these when we write them up for CNBC Pro.”at 44:51
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Joe Terranova · Virtus Investment PartnersBullish
Valero's refining margins and diesel supply shortage justify holding; expects a historic quarter.
Valero's results are about refining margins, and he has stayed anchored to the trade as it has moved higher. He sees overwhelming evidence of significant supply challenges in diesel, and as a result in gasoline. Valuation is in the high teens and the balance sheet is throwing off historic cash flow, so he expects a historic quarter when it reports tomorrow and advises staying in the stock with a trailing stop.
“They're going to report earnings, and it really has been all about refining margins... I see in front of me this overwhelming evidence that's saying there are significant supply challenges as it relates to diesel and as a result of that to gasoline as well.”at 28:12
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Jim Cramer · CNBCUncertain
Valero is a high-risk trade that pays only if the war keeps crack spreads wide; otherwise it goes flat.
Cramer owns Valero as a trade. The refiner's upside depends on the large crack spread the Iran war is creating. If that spread persists, the stock could make money. If it doesn't, Cramer expects Valero to return to its usual state of doing very little. He calls it a double-or-nothing trade.
“I have a Valero just as a trade. ... This thing is a double or nothing trade from here. If you continue to get this big crack spread because the war you're going to make money. And if you don't, then Valero is going to go back to what it always used to be”at 42:23
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Gareth Soloway · Verified InvestingBearish
Valero's vertical rally looks overheated; cyclical margin compression makes it a short or sidelines name.
Valero's chart is so vertical it looks like the hottest AI stock. Cyclically, its margins will compress when the gasoline crack spread falls relative to what it pays for crude. Because the valuation is stretched on a cyclical business, he would be short or on the sidelines rather than paying up for it.
“I mean, Valero, which I know cyclically is going to have its margins compressed when the crack spread of gasoline and what they're paying for crude comes in.”at 12:00
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Paul Sankey · Sankey ResearchBullish
Valero has upside into its earnings print, though its valuation is now unprecedentedly stretched.
Refiners have been running hot, with Valero and peers hitting records and up 120-170% this year as refining margins boom on diesel and jet fuel demand. Sankey says there is more upside into results, which are imminent, so he is riding Valero into the print. He notes the structural drivers (global diesel tightness and refiners' advantage from cheap natural gas) support the earnings outlook. He cautions, however, that the stock's valuation is at unprecedented levels, so the upside is a near-term trade into earnings rather than a durable re-rating.
“I think into the results, yeah. But of course, as you know, results coming up right now. So we're definitely riding Valero into the print.”at 41:28
Josh Brown · Ritholtz Wealth ManagementNeutral
Refiner Valero benefits from a de facto oligopoly with no new US refineries since the 1970s, though regulatory change is far-fetched.
Refiners (Valero, Phillips 66, Marathon) are the top three performers in the XLE, helped by diesel strength and a de facto oligopoly because no new US refinery has been built since the 1970s. A single regulatory stroke allowing new entrants would force a rethink of pricing power, though Brown calls it far-fetched. He notes the stock has gone from ~$100 in late 2024 to $400+, and that their Porterhouse strategy had to trim Valero for violating position-size limits while remaining long it as the biggest holding.
“we haven't built a new refinery in this country, I think, since the nineteen seventies. So you sort of have three companies that own all refining capacity, Valero, Phillips, and Marathon, which are the numbers one, two, and three performing stocks in the XLE this year.”at 38:20
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