Valero Energy Corporation (NYSE:VLO) – Stock analysts at Jefferies Group boosted their Q3 2017 earnings estimates for Valero Energy Corporation in a research report issued on Monday. Jefferies Group analyst C. Goldman now forecasts that the oil and gas company will post earnings of $1.82 per share for the quarter, up from their prior forecast of $1.57. Jefferies Group has a “Hold” rating on the stock. Jefferies Group also issued estimates for Valero Energy Corporation’s FY2017 earnings at $4.83 EPS, Q2 2018 earnings at $1.92 EPS, Q3 2018 earnings at $1.91 EPS, Q4 2018 earnings at $2.01 EPS, FY2018 earnings at $7.41 EPS, FY2019 earnings at $6.94 EPS, FY2020 earnings at $6.79 EPS and FY2021 earnings at $6.40 EPS.
Valero Energy Corporation (NYSE:VLO) last issued its earnings results on Thursday, July 27th. The oil and gas company reported $1.23 EPS for the quarter, topping the Zacks’ consensus estimate of $1.08 by $0.15. The business had revenue of $22.25 billion for the quarter, compared to analyst estimates of $19.32 billion. Valero Energy Corporation had a net margin of 2.17% and a return on equity of 8.59%. The company’s quarterly revenue was up 13.6% compared to the same quarter last year. During the same period last year, the company posted $1.07 earnings per share. COPYRIGHT VIOLATION WARNING: “Jefferies Group Weighs in on Valero Energy Corporation’s Q3 2017 Earnings (VLO)” was originally published by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are accessing this story on another domain, it was stolen and republished in violation of United States & international copyright & trademark laws. The correct version of this story can be accessed at https://www.dispatchtribunal.com/2017/10/28/jefferies-group-weighs-in-on-valero-energy-corporations-q3-2017-earnings-vlo.html.
VLO has been the topic of a number of other reports. Cowen and Company boosted their price target on shares of Valero Energy Corporation from $70.00 to $90.00 and gave the company an “outperform” rating in a research note on Thursday, September 28th. J P Morgan Chase & Co downgraded shares of Valero Energy Corporation from an “overweight” rating to a “neutral” rating and boosted their price target for the company from $75.00 to $78.00 in a research note on Friday, October 6th. Credit Suisse Group reissued a “hold” rating and issued a $65.00 price target on shares of Valero Energy Corporation in a research note on Wednesday, June 21st. Standpoint Research initiated coverage on shares of Valero Energy Corporation in a research note on Friday, June 30th. They issued an “accumulate” rating and a $84.00 price target on the stock. Finally, Barclays PLC reissued an “overweight” rating and issued a $86.00 price target (up from $85.00) on shares of Valero Energy Corporation in a research note on Tuesday, October 10th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and thirteen have assigned a buy rating to the company. Valero Energy Corporation presently has a consensus rating of “Hold” and an average price target of $76.39.
Valero Energy Corporation (NYSE VLO) opened at 77.62 on Wednesday. Valero Energy Corporation has a 12 month low of $54.21 and a 12 month high of $78.64. The stock’s 50 day moving average is $73.86 and its 200-day moving average is $67.86. The stock has a market capitalization of $34.28 billion, a price-to-earnings ratio of 19.16 and a beta of 1.22.
Several large investors have recently made changes to their positions in VLO. BlackRock Inc. increased its position in shares of Valero Energy Corporation by 2,578.1% in the 1st quarter. BlackRock Inc. now owns 38,217,393 shares of the oil and gas company’s stock valued at $2,533,433,000 after purchasing an additional 36,790,343 shares during the last quarter. FMR LLC boosted its holdings in shares of Valero Energy Corporation by 146.1% in the 2nd quarter. FMR LLC now owns 2,224,590 shares of the oil and gas company’s stock valued at $150,071,000 after buying an additional 1,320,524 shares in the last quarter. Harbour Capital Advisors LLC boosted its holdings in shares of Valero Energy Corporation by 6,236.6% in the 2nd quarter. Harbour Capital Advisors LLC now owns 1,226,760 shares of the oil and gas company’s stock valued at $18,185,000 after buying an additional 1,207,400 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in shares of Valero Energy Corporation by 1,780.4% in the 2nd quarter. Janus Henderson Group PLC now owns 1,127,141 shares of the oil and gas company’s stock valued at $76,039,000 after buying an additional 1,067,201 shares in the last quarter. Finally, Parametric Portfolio Associates LLC boosted its holdings in shares of Valero Energy Corporation by 88.7% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 2,138,646 shares of the oil and gas company’s stock valued at $144,273,000 after buying an additional 1,005,206 shares in the last quarter. 80.63% of the stock is currently owned by institutional investors.
In other Valero Energy Corporation news, CFO Michael S. Ciskowski sold 53,012 shares of the stock in a transaction that occurred on Tuesday, September 19th. The shares were sold at an average price of $72.88, for a total value of $3,863,514.56. Following the sale, the chief financial officer now directly owns 67,413 shares of the company’s stock, valued at approximately $4,913,059.44. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Stephen M. Waters sold 656 shares of the stock in a transaction that occurred on Thursday, September 28th. The shares were sold at an average price of $75.86, for a total transaction of $49,764.16. The disclosure for this sale can be found here. Over the last three months, insiders sold 55,168 shares of company stock worth $4,015,279. Insiders own 0.45% of the company’s stock.
Valero Energy Corporation Company Profile
Valero Energy Corporation (Valero) is an independent petroleum refiner and ethanol producer. The Company’s segments include refining, ethanol and Valero Energy Partners LP (VLP). The refining segment includes its refining operations and the associated marketing activities. The ethanol segment includes its ethanol operations and the associated marketing activities, and logistics assets that support its ethanol operations.
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