Wall Street brokerages expect Valero Energy Co. (NYSE:VLO) to report sales of $27.08 billion for the current quarter, according to Zacks. Three analysts have made estimates for Valero Energy’s earnings, with estimates ranging from $24.57 billion to $30.05 billion. Valero Energy posted sales of $30.85 billion in the same quarter last year, which would indicate a negative year-over-year growth rate of 12.2%. The firm is scheduled to issue its next quarterly earnings report on Thursday, October 24th.
According to Zacks, analysts expect that Valero Energy will report full year sales of $108.31 billion for the current year, with estimates ranging from $97.93 billion to $115.97 billion. For the next year, analysts forecast that the firm will report sales of $133.36 billion, with estimates ranging from $106.61 billion to $150.69 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for Valero Energy.
Valero Energy (NYSE:VLO) last issued its quarterly earnings data on Thursday, July 25th. The oil and gas company reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.37 by $0.14. The firm had revenue of $28.93 billion during the quarter, compared to analysts’ expectations of $25.45 billion. Valero Energy had a return on equity of 11.23% and a net margin of 2.27%. Valero Energy’s revenue was down 6.7% on a year-over-year basis. During the same period in the previous year, the firm posted $2.15 earnings per share.
VLO has been the subject of several research reports. ValuEngine cut Valero Energy from a “hold” rating to a “sell” rating in a report on Friday. Morgan Stanley lifted their price objective on Valero Energy from $100.00 to $110.00 and gave the stock an “overweight” rating in a report on Monday, April 15th. Raymond James lifted their price objective on Valero Energy from $100.00 to $105.00 and gave the stock an “outperform” rating in a report on Friday, April 26th. Goldman Sachs Group raised Valero Energy from a “neutral” rating to a “buy” rating and reduced their price objective for the stock from $96.00 to $92.00 in a report on Thursday, June 6th. Finally, JPMorgan Chase & Co. raised Valero Energy from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $102.00 to $105.00 in a research report on Tuesday, May 14th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have issued a buy rating to the stock. Valero Energy has a consensus rating of “Buy” and a consensus price target of $105.47.
VLO stock traded down $2.27 during midday trading on Friday, hitting $82.07. 3,289,643 shares of the stock were exchanged, compared to its average volume of 2,519,905. The stock’s 50-day moving average is $82.72. The stock has a market capitalization of $35.57 billion, a PE ratio of 11.14, a price-to-earnings-growth ratio of 2.00 and a beta of 1.48. Valero Energy has a fifty-two week low of $68.81 and a fifty-two week high of $122.42. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.92 and a current ratio of 1.43.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 4th. Shareholders of record on Tuesday, August 6th will be given a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 4.39%. The ex-dividend date of this dividend is Monday, August 5th. Valero Energy’s payout ratio is 48.85%.
Institutional investors have recently added to or reduced their stakes in the business. Norges Bank purchased a new stake in shares of Valero Energy in the fourth quarter valued at $346,427,000. Thoroughbred Financial Services LLC grew its position in shares of Valero Energy by 8,873.5% in the second quarter. Thoroughbred Financial Services LLC now owns 1,347,276 shares of the oil and gas company’s stock valued at $134,728,000 after purchasing an additional 1,332,262 shares during the period. Scout Investments Inc. purchased a new stake in shares of Valero Energy in the first quarter valued at $60,786,000. Janus Henderson Group PLC grew its position in shares of Valero Energy by 29.3% in the second quarter. Janus Henderson Group PLC now owns 2,495,692 shares of the oil and gas company’s stock valued at $213,658,000 after purchasing an additional 564,854 shares during the period. Finally, Carillon Tower Advisers Inc. purchased a new stake in shares of Valero Energy in the first quarter valued at $40,981,000. 77.13% of the stock is owned by institutional investors.
About Valero Energy
Valero Energy Corporation operates as an independent petroleum refining and ethanol producing company in the United States, Canada, the United Kingdom, Ireland, and internationally. 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.
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