NEW YORK (TheStreet) -- Shares of Valero Energy (VLO - Get Report) finished the day in the red, having traded down by 4.03% to $54.82 on Monday afternoon, as concerns over the global supply glut weigh on oil prices, which dragged down some energy stocks today.
Concerns about the oversupply hang and the unlikelihood of members of the Organization of Petroleum Exporting Countries and non-OPEC members coming together to boost oil prices pressured the commodity.
Crude oil (WTI) is retreating by 2.53% to $30.11 per barrel this afternoon and Brent crude is tumbling by 3.23% to $32.96 per barrel.
"With the possibility of a production cutting deal quickly fading into the sunset, market participants are once again left to focus on the reality of the oversupplied global market," Energy Management Institute analyst Dominick Chirichella said in a note, Reuters reports.
Valero Energy is an international manufacturer and marketer of transportation fuels, other petrochemical products and power.
Separately, TheStreet Ratings has set a "buy" rating and score of B+ on Valero Energy stock. This is driven by some important positives, which TheStreet Ratings believes should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks it covers.
The company's strengths can be seen in multiple areas, such as its notable return on equity, reasonable valuation levels, solid stock price performance and largely solid financial position with reasonable debt levels by most measures. TheStreet Ratings feels its strengths outweigh the fact that the company shows low profit margins.
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: VLOVLO data by YCharts