New Watch List Plays Triggered
VLO $50.84 - Valero
Valero finally rallied enough to trigger our $51 breakout entry on Friday. If oil prices are about to decline then refiners should do well again. We all know gasoline prices never return to prior levels and refiners tend to do well in a declining crude market.
Valero Energy Corporation is a Fortune 500 company based in San Antonio, Texas, and incorporated in Delaware. Valero's common stock is listed for trading on the New York Stock Exchange under the symbol "VLO." The company has approximately 22,000 employees and assets valued at $38 billion.
The largest refiner in North America, Valero has an extensive refining system with a throughput capacity of approximately 3.1 million barrels per day. The company's geographically diverse refining network stretches from Canada to the U.S. Gulf Coast and West Coast to the Caribbean.
Valero has a mid-stream logistics system that supports Valero's refining and marketing operations.
A marketing leader, Valero has approximately 5,800 retail and wholesale stores in the United States, Canada and the Caribbean under various brand names including Valero, Diamond Shamrock, Shamrock, Ultramar, and Beacon. The company markets on a retail and wholesale basis through a bulk and rack marketing network in 44 U.S. states, Canada, Latin America and the Caribbean.
Breakout trigger: $51 hit 5/19