Valero Energy (NYSE:VLO) is deep undervalued at today´s market price; with a Book value of nearly Us.$28.22 finance.yahoo.com/q/ks it´s market´s price today is under Us.$18.
Refining commercial margins were weak with low final consumption and high crude oil´s price, but at this point, Us. Manufacturing index is gaining momentum so consumption could peak to higher levels.
Valero Energy is also a big producer of bio-fuels like ethanol and that business will improve with approval of a new mixtures blending ethanol with gasoline.
Disclosure: LONG IN VLO