Benzinga - by Thrash Capital, Benzinga Contributor.
Are you looking for an oil stock to add to your portfolio that is not named Chevron (NYSE: CVX) or Exxon (NYSE: XOM)? You can look no further than Valero (NYSE: VLO). Valero is a petroleum company headquartered in San Antonio, Texas. Valero is up over 20 percent since the 2nd half of 2023 started, while the S&P (ARCA: SPY) is up 0.5 percent in the same timeframe.
Some of Valero’s biggest competitors in the energy sector (ARCA: XLE) are also performing very well in the market as of late. Phillips 66 (NYSE: PSX) and Marathon Petroleum (NYSE: MPC) are two of the biggest, up 18 and 33 percent, respectively.
Looking at the weekly chart, 147 and 150 are potential resistance areas, and if 150 clears, an all-time high breakout could be on the horizon.
Let us know what you think about Valero and if you guys have other energy names that are not talked about enough that you love! If you are on Twitter, now known as “X,” feel free to follow @ThrashCapital for more content!
This content is for informational purposes only and is not intended to be investing advice.
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