Valero Energy's stock value rises despite broader market downturn

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Valero Energy's stock value rises despite broader market downturn

Despite a generally gloomy trading session for the broader stock market on Thursday, Valero Energy Corp. (NYSE: VLO ) witnessed a 2.33% rise in its stock value, ending the day at $146.30. This marked the second day of consecutive gains for the company's shares, even as the S&P 500 Index and Dow Jones Industrial Average experienced significant drops, falling 1.64% to 4,330.00 and 1.08% to 34,070.42 respectively.

The company's shares closed just $4.09 below its 52-week high of $150.39, which was reached on January 27, 2023. In comparison to some of its competitors on Thursday, Valero Energy Corp.'s performance stood out. Exxon Mobil Corp.'s (NYSE:NYSE: XOM ) shares declined by 1.41% to close at $114.76, while Chevron Corp.'s (NYSE:NYSE: CVX ) shares fell by 0.90% to end at $165.19.

In terms of trading volume, the company saw a significant surge on Thursday with 6.8 million shares changing hands — a figure that far surpasses its 50-day average trading volume of 3.7 million shares.

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