This Oil Stock Posted Stunning Profits in 2022. Is There More Fuel Left in the Tank?
Valero (NYSE: VLO) ended 2022 with a bang. The fuel company reported $3.1 billion, or $8.15 per share, of net income in the fourth quarter, more than triple the prior-year period's $1 billion, or $2.46 per share. While robust market conditions helped power that surge, Valero also benefited from recently completed capital projects.