Valero Energy (VLO) is on track for its best annual performance since 1982. The stock has returned approximately 143% this year. Shares climbed 14.3% in the last 30 days, closing at a record $390.42 on Friday, September 11, 2026.
Record second-quarter earnings significantly exceeded expectations. High fuel demand and a strong refining environment drove the financial results. Tight global processing capacity further supported the stock's rally.
Investor Michael Burry revealed a huge position in the company. Burry classifies the investment as a regulatory arbitrage play. He argues that regulations and opposition to new refineries create scarcity that benefits established players.