Valero Energy (VLO) Stock Looks Fully Priced After A 7x Run

Valero Energy has delivered a very large 5 year return, which puts a spotlight on how much investors are now paying for each dollar of earnings. With the share price recently closing at US$459.78 and fuel markets still tight, the question is whether that kind of move is backed up by the company’s profit power. The stock’s roughly 7x gain over the past 5 years means even small changes in earnings expectations can matter a lot for valuation today. Recent reports of strong refining conditions...