Of the refinery stocks I am following, I see from Yahoo, that VLO has the lowest forward estimated p/e ratio. (I exclude integrated oils with refinery operations, e.g. COP, from my refinery list, and I don't follow foreign refinery company stocks.)
I like the low p/e, but oil prices and geopolitical events possibly have more of an influence on refinery stocks than an analysis of relative fundamentals. And p/e might be the wrong metric to use; additionally, basing buys on analyst consensus estimates is always very dangerous, imo.
I'm holding off adding yet more VLO to my full position. Instead I have started just a very small buy of SUN today. I trimmed HOC a little last year based on its relatively high p/e (compared to the other refinery stocks), and I may start swapping out more HOC and beefing up SUN.
All jmo, I'm no expert on these stocks, and I've been wrong many, many times.
I am following and have shares in all the following:
ALJ: 9.1 (forward p/e, per Yahoo)
DK: 9.6
FTO: 11.4
HES: 10.0
HOC: 15.4
SUN: 9.1
TSO: 11.0
VLO: 8.2
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