Valero Energy (NYSE:VLO) – Research analysts at US Capital Advisors boosted their Q2 2018 earnings estimates for shares of Valero Energy in a note issued to investors on Monday, April 16th. US Capital Advisors analyst C. Weiland now anticipates that the oil and gas company will post earnings of $2.46 per share for the quarter, up from their previous estimate of $2.17. US Capital Advisors also issued estimates for Valero Energy’s FY2018 earnings at $6.96 EPS and FY2019 earnings at $7.14 EPS.
Several other research firms have also issued reports on VLO. Morgan Stanley boosted their price target on Valero Energy from $100.00 to $110.00 and gave the company an “equal weight” rating in a report on Monday. Scotiabank reissued a “sector perform” rating on shares of Valero Energy in a report on Thursday, April 12th. Howard Weil lowered Valero Energy from a “sector outperform” rating to a “sector perform” rating in a report on Wednesday, April 11th. Scotia Howard Weill reissued a “sector perform” rating on shares of Valero Energy in a report on Wednesday, April 11th. Finally, Citigroup boosted their price target on Valero Energy from $76.00 to $96.00 and gave the company a “neutral” rating in a report on Wednesday, January 24th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and eight have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $95.94.
NYSE:VLO opened at $107.54 on Tuesday. Valero Energy has a 52-week low of $60.69 and a 52-week high of $108.83. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.74 and a quick ratio of 1.17. The stock has a market cap of $45,695.73, a price-to-earnings ratio of 21.68, a P/E/G ratio of 1.19 and a beta of 1.02.
Valero Energy (NYSE:VLO) last released its quarterly earnings results on Thursday, February 1st. The oil and gas company reported $1.16 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.08 by $0.08. Valero Energy had a return on equity of 10.30% and a net margin of 4.33%. The business had revenue of $26.39 billion during the quarter, compared to analyst estimates of $23.02 billion. During the same quarter in the previous year, the company posted $0.81 earnings per share. Valero Energy’s revenue for the quarter was up 27.4% on a year-over-year basis.
Several institutional investors have recently made changes to their positions in VLO. Amundi Pioneer Asset Management Inc. purchased a new position in shares of Valero Energy in the fourth quarter valued at about $302,721,000. Bank of New York Mellon Corp lifted its position in shares of Valero Energy by 5.8% in the fourth quarter. Bank of New York Mellon Corp now owns 11,932,482 shares of the oil and gas company’s stock worth $1,096,715,000 after buying an additional 658,940 shares in the last quarter. Wells Fargo & Company MN lifted its position in shares of Valero Energy by 20.3% in the fourth quarter. Wells Fargo & Company MN now owns 2,930,471 shares of the oil and gas company’s stock worth $269,338,000 after buying an additional 494,511 shares in the last quarter. Bank of Montreal Can lifted its position in shares of Valero Energy by 17.4% in the fourth quarter. Bank of Montreal Can now owns 3,200,849 shares of the oil and gas company’s stock worth $294,188,000 after buying an additional 475,381 shares in the last quarter. Finally, Prudential Financial Inc. lifted its position in shares of Valero Energy by 14.5% in the third quarter. Prudential Financial Inc. now owns 3,251,977 shares of the oil and gas company’s stock worth $250,174,000 after buying an additional 411,630 shares in the last quarter. Institutional investors and hedge funds own 80.90% of the company’s stock.
Valero Energy announced that its board has approved a share repurchase program on Tuesday, January 23rd that permits the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization permits the oil and gas company to repurchase shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.
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About Valero Energy
Valero Energy Corporation operates as an independent petroleum refining and ethanol producing company. It operates through three segments: Refining, Ethanol, and VLP (Valero Energy Partners LP). The company is involved in oil and gas refining, marketing, and bulk selling activities. It produces conventional and premium gasolines, gasoline meeting the specifications of the California Air Resources Board (CARB), diesel fuels, low-sulfur and ultra-low-sulfur diesel fuels, CARB diesel, other distillates, jet fuels, asphalts, petrochemicals, lubricants, and other refined petroleum products.
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