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Posted by
Two Blokes May 4 -
Filed in
Stock
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Valero Energy has underperformed due to a challenging refining environment, but signs indicate Q1 may represent a bottom, making it a good time to revisit the stock. The company is shutting down its Benicia refinery, impacting the California market, yet maintains a strong balance sheet and continues to return capital to investors. Despite a tough Q1, Valero generated $200 million in adjusted free cash flow, with expectations for improved margins and higher free cash flow in Q2-Q3.
