10 Best Oil Stocks to Invest In According to Billionaires

5. Valero Energy Corporation (NYSE:VLO

Number of Billionaire Holders: 14

Next on our list of the Best Oil Stocks According to Billionaires is Valero Energy Corporation (NYSE:VLO), the largest independent petroleum refiner in the world that boasts 15 refineries in the US, Canada, and the UK, and a total throughput capacity of approximately 3.2 million barrels per day.

Valero Energy Corporation (NYSE:VLO) had a strong Q4 2024, as its adjusted EPS of $0.64 was significantly above expectations by $0.58. The company’s revenue of $30.76 billion also topped estimates by $733.14 million, despite being down 13.15% YoY. Refining, Valero’s largest segment, witnessed a significant decline in operating income, reporting $437 million in Q4 2024 against $1.6 billion the previous year. However, the renewable diesel segment stood out, with its operating income rising to $170 million, up 102% YoY, partly due to amplified sales volumes and better margins. Despite the issues, VLO returned $4.3 billion to stockholders in 2024 and increased its quarterly cash dividend by 5.6% in January, underlining its commitment to return value to shareholders.

Valero Energy Corporation (NYSE:VLO) expects capital investments of approximately $2 billion in 2025, with a focus on growth and sustainability. The company completed a strategic project to boost renewable energy production in Q4 2024, enhancing its Diamond Green Diesel joint venture. VLO expects the sales volumes of its Renewable Diesel segment to be approximately 1.2 billion gallons in 2025.