Valero Adds $5B Buyback, Expanding Total to $6.4B
VLO has more than doubled off its 52-week low of $130.78.
Summary
Valero's board authorized an additional $5 billion share repurchase program, bringing total buyback capacity to $6.4 billion when combined with the $1.4 billion remaining from prior authorizations. This follows a $2.5 billion buyback announced in April alongside strong Q1 earnings of $4.22 per share. The new authorization signals confidence in sustained cash generation, supported by robust refining margins and operational recovery from recent refinery disruptions. With shares trading near a 52-week high of $303.64, the buyback could provide further price support and reflects management's commitment to returning capital to shareholders.
At the time of this announcement, VLO was trading at $300.26 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $89.2B. The 52-week trading range was $130.78 to $303.64. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Dow Jones Newswires.