United

Strong

Million

Billion

<ul class="list-ic vertical"> 
 <li> 1 <a>Valero Energy Corporation (NYSE: VLO) is maintaining strong performance throughout this year.&nbsp;</a> </li> 
 <li> 2 <a>VLO stock price is in a recent short-term uptrend with a 35% rise noted on August 11th, 2023.&nbsp;</a> </li> 
 <li> 3 <a>The VLO stock is trading above both the 50 and 200-day EMAs.&nbsp;</a> </li> 
</ul> 
The oil and gas industry is among the most sensitive to geopolitical and macroeconomic instances. The time during the pandemic was tough for the energy space, but the recovery phase fairly compensated for most of them. Valero Energy Corporation (NYSE: VLO) stands as one such company in order to maintain buoyancy. VLO stock price enjoyed a jolly ride gaining 30% within the last three months.&nbsp; 
The Texas-based Valero Energy stands as one of the largest independent refiners in the country. It has operations across the United States, Canada, and the United Kingdom. And it holds an overall production capacity of 3.2 Million barrels per day from its 15 refineries.&nbsp; 
Valero holds earnings per share (EPS) of $29 and revenue of $157.1 Billion in the last twelve months. During the last decade, the&nbsp; $48.9 Billion market cap holding company was profitable for about 9 out of 10 years.&nbsp; 
The downstream petroleum company posted quarterly earnings on July 27 posting better than expected and subsequent results. For the quarter ending in June 2023, Valero reported total revenue of $34.4 Billion with a net income of $1.94 Billion. It marked a gross profit of $2.83 Billion with $2.62 Billion in operating income.&nbsp; 
Major oil companies saw a jump in the stock price following the anticipation of the potential reduction in the oil inventories after OPEC+ group cuts reported to cut the supply, Reuters reported. 
According to the International Energy Agency (IEA), this action would result in pushing the oil prices higher prior to the economic headwinds to curb the global demand growth by next year.&nbsp; 
The oil companies’ <a href="https://www.thecoinrepublic.com/2023/07/28/will-marathon-petroleum-stock-record-52wk-high-post-earnings/" target="_blank" rel="noopener noreferrer nofollow">stock prices</a> are likely to see a rise in the coming days following the said price rise.&nbsp; 
<h2 class="wp-block-heading" id="strong-vlo-stock-price-movement-strong">VLO Stock Price Movement</h2> 
For the past quarter, VLO stock price in uptrend increased by over 30% during a similar timeframe. Currently, the stock is trading at $139 following a rise of 3% in the last trading session on Friday, August 11th, 2023.&nbsp; 
VLO stock price holds immediate support at $125 and it’s 10% up from the level. The price range of $105 to $120 is acting as strong support for the stock price given the consolidation for several months before breaking, setting an upward course.&nbsp; 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
 <img decoding="async" src="https://lh5.googleusercontent.com/14JBaj3YulM3f3sD1g3s9X3bv5wwqULXycaFCIpNiL7529AZ5gtISSbNaQMVlH7UxzbrDmJQnVyMky_KkOwkqdsxp3iEzTs53PixyfVvJ6X8kAwdXJeCs2omlqzR18JiNpj4myf3hMaPIDIAT04I0Q" alt="VLO Stock Price 30% in a Quarter; Strong Indication to Hit ATH?"> 
 <figcaption class="wp-element-caption">
 Source: Valero Energy Corporation (NYSE: VLO) Stock Price Movement on <a href="https://www.tradingview.com/x/7HmQcgmq/" rel="noopener noreferrer nofollow">TradingView</a> 
 </figcaption> 
 </figure> 
</div> 
At press time, VLO stock price is trading above both 50 and 200-day exponential moving averages (EMA) following the golden crossover. Since the stock price is going distant from EMAs, a short retracement could take place ahead.&nbsp; 
MACD is making upside moves and the curves affirm the bullish trend in VLO stock price. The RSI is at 78 suggesting the stock entering the overbought zone and a reversal for a short time is likely to take place.&nbsp; 
<h5 class="wp-block-heading">Disclaimer</h5> 
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.

VLO Stock Price 30% in a Quarter; Strong Indication to Hit ATH?

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