Stock Alert: Downtrend Continues At Valero Energy; Loses 3%

(RTTNews) - Shares of Valero Energy Corp (VLO), a maker of transportation fuels and petrochemical products, are losing more than 3 percent in the morning trade on Thursday at $62.13 despite no company-specific news.

The stock has traded in a range of $61.29 to $101.99 in the past 52 weeks.

Valero Energy's shares have been trending down from January this year. The stock has lost more than 34 percent since the beginning of 2020, amid worries about the impact of the coronavirus on the company's refining business as well as on the demand for crude oil.

In January, Valero Energy had reported an increase in profit for the fourth quarter to $1.1 billion or $2.58 per share from $952 million or $2.24 per share in the year-ago period. However, revenues for the quarter declined to $27.88 billion from $28.73 billion in the prior year.