NEW YORK (TheStreet) -- Shares of Valero Energy (VLO) - Get Report were climbing in late-morning trading on Tuesday after the company posted better-than-expected results for the 2016 third quarter.

Before the market open, the San Antonio, TX-based oil refiner reported adjusted earnings of $1.24 per share, surpassing analysts' projections of 93 cents per share.

Revenue for the quarter was $19.65 billion, above analysts' forecasts of $16.62 billion.

"We were pleased to see strong refined product demand continue during the quarter and we expect consumer demand to remain healthy given low crude oil and refined product prices," CEO Joe Gorder said in a statement.

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Separately, TheStreet Ratings Team has a "Buy" rating with a score of B- on the stock.

The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, attractive valuation levels and notable return on equity.

The team believes its strengths outweigh the fact that the company shows low profit margins.

Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.

You can view the full analysis from the report here: VLO

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