Even though crude oil prices are on the rise, normally a gloomy situation for refiners, shares of Valero Energy (NYSE: VLO)have been on an absolute tear so far this year. Resilient refining margins and management's plan to give a lot of cash back to shareholders in the form of a higher dividend and significant share repurchases have sent shares up 22% since the beginning of the year.
That's already on top of its impressive run in 2017.Are Valero Energy's Earnings Enough to Justify Its Lofty Stock Price?
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