Valero ( VLO ) is the biggest independent refiner, with 16 refineries and 3 million bpd of capacity. The company also owns 6800 branded retail sites, which it plans to spin off. Analysts expect Valero to post EPS of $4.78 in 2013, up from $4.35 60 days ago and good for 9% growth from 2012. The company has beaten expectations in 3 of the past 4 quarters and shares currently yield 2.2%. Western Refinery (WNR) operates in the Southwest and West through two refineries with total capacity of 151k bpd. Analysts expect Western to post EPS of $3.93 in 2013, up from $3.57 60 days ago. The company has beaten estimates in only 2 of the past 4 quarters and short sellers are sitting on 8 days of average volume to cover. Shares yield 1.2%. Tesoro (TSO) recently announced the purchase of BP's ( BP ) Southern California refining operation with 266k bpd capacity and 800 dealer operated sites.