Phillips 66 Vs. Valero Energy: One Is A Buy And One Is Not

Thesis

In the last 60 days, the refining segment has seen strong gains. So much so, that analyst groups such as Bank of America have downgraded the entire group based mainly on valuation and risk of

Refining Renewable Diesel Ethanol
Operating Income $2,432m $440m $127m
Production Volume (gallons) 11,348m 400.4m 404.4m
Profit/Gallon $0.214/gallon $1.10/gallon $0.314/gallon

Maturities VLO PSX
Due 2024 $167m $1,100m
Due 2025 $441m $1,975m
Due 2026 $672m $992m

Cash Balance

$5,075m $3,029m

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