The IBD SmartSelect Composite Rating for Valero Energy rose from 93 to 97 Tuesday.
The upgrade means the stock currently tops 97% of all other stocks in terms of key performance metrics and technical strength. History shows the top market performers tend to have a 95 or higher score as they launch their major moves.
Valero Energy is not currently near a proper buy zone. It has given back all gains from a recent cup with handle pattern. Recently bouncing off the 200-day MA, look for the stock to form and break out of a new chart pattern.
Looking For The Best Stocks To Buy And Watch? Start Here
The stock earns an 82 EPS Rating, meaning its recent quarterly and longer-term annual earnings growth tops 82% of all stocks.
Its Accumulation/Distribution Rating of D- shows moderate selling by institutional investors over the last 13 weeks. Look for the rating to improve to at least a C or better.
The company posted a 437% increase in earnings for Q3. Revenue growth fell to 51%, down from 86% in the previous quarter.
Valero Energy holds the No. 4 rank among its peers in the Oil & Gas-Refining/Marketing industry group. Global Partners is the No. 1-ranked stock within the group.
Stocks To Buy And Watch: Top IPOs, Big And Small Caps, Growth Stocks
