Valero Energy Co. (NYSE:VLO) Expected to Post Earnings of $0.83 Per Share

Equities research analysts expect that Valero Energy Co. (NYSE:VLO) will post $0.83 earnings per share for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Valero Energy’s earnings, with estimates ranging from $0.70 to $1.11. Valero Energy posted earnings per share of ($1.16) in the same quarter last year, which would suggest a positive year-over-year growth rate of 171.6%. The company is scheduled to announce its next quarterly earnings report on Thursday, October 28th.

On average, analysts expect that Valero Energy will report full year earnings of $0.20 per share for the current fiscal year, with EPS estimates ranging from ($0.25) to $1.10. For the next year, analysts expect that the firm will post earnings of $5.41 per share, with EPS estimates ranging from $3.88 to $6.91. Zacks’ earnings per share averages are an average based on a survey of research firms that follow Valero Energy.

Valero Energy (NYSE:VLO) last issued its quarterly earnings data on Thursday, July 29th. The oil and gas company reported $0.48 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.15 by $0.33. Valero Energy had a negative return on equity of 7.31% and a negative net margin of 1.69%. The business had revenue of $27.75 billion for the quarter, compared to the consensus estimate of $22.66 billion.

A number of research firms have recently issued reports on VLO. Royal Bank of Canada increased their target price on Valero Energy from $91.00 to $92.00 and gave the company an “outperform” rating in a research note on Friday, July 30th. Zacks Investment Research raised Valero Energy from a “sell” rating to a “hold” rating and set a $69.00 target price on the stock in a report on Wednesday, September 8th. Piper Sandler cut their price target on Valero Energy from $81.00 to $75.00 and set an “overweight” rating on the stock in a report on Thursday. Morgan Stanley assumed coverage on Valero Energy in a research note on Tuesday, September 7th. They set an “overweight” rating and a $80.00 target price on the stock. Finally, Barclays lifted their target price on Valero Energy from $84.00 to $94.00 and gave the company an “overweight” rating in a research note on Tuesday, June 29th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $83.71.

NYSE:VLO traded down $1.05 on Thursday, hitting $65.46. 2,307,918 shares of the stock were exchanged, compared to its average volume of 3,956,490. The stock has a market cap of $26.76 billion, a PE ratio of -19.79, a PEG ratio of 57.32 and a beta of 2.15. The company has a current ratio of 1.36, a quick ratio of 0.93 and a debt-to-equity ratio of 0.73. The stock has a fifty day moving average of $65.62 and a 200-day moving average of $73.08. Valero Energy has a fifty-two week low of $35.44 and a fifty-two week high of $84.95.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 2nd. Stockholders of record on Thursday, August 5th were paid a $0.98 dividend. The ex-dividend date of this dividend was Wednesday, August 4th. This represents a $3.92 annualized dividend and a dividend yield of 5.99%. Valero Energy’s dividend payout ratio is currently -125.64%.

Several hedge funds have recently added to or reduced their stakes in VLO. Bank of America Corp DE boosted its holdings in shares of Valero Energy by 4.6% in the 2nd quarter. Bank of America Corp DE now owns 3,562,319 shares of the oil and gas company’s stock worth $278,145,000 after acquiring an additional 157,838 shares in the last quarter. Parametric Portfolio Associates LLC boosted its holdings in shares of Valero Energy by 4.3% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 2,216,451 shares of the oil and gas company’s stock worth $173,060,000 after acquiring an additional 91,590 shares in the last quarter. OLD Second National Bank of Aurora boosted its holdings in shares of Valero Energy by 1.7% in the 2nd quarter. OLD Second National Bank of Aurora now owns 34,656 shares of the oil and gas company’s stock worth $2,706,000 after acquiring an additional 593 shares in the last quarter. Marshall Wace LLP boosted its holdings in shares of Valero Energy by 107.3% in the 2nd quarter. Marshall Wace LLP now owns 221,404 shares of the oil and gas company’s stock worth $17,287,000 after acquiring an additional 114,620 shares in the last quarter. Finally, EP Wealth Advisors LLC boosted its holdings in shares of Valero Energy by 3.7% in the 2nd quarter. EP Wealth Advisors LLC now owns 327,359 shares of the oil and gas company’s stock worth $25,560,000 after acquiring an additional 11,548 shares in the last quarter. Institutional investors own 76.92% of the company’s stock.

About Valero Energy

Valero Energy Corp. engages in the manufacture and marketing of transportation fuels and other petrochemical products. It operates through the following business segments: Refining, Ethanol and Renewable Diesel. The Refining segment comprises of refining operations, associated marketing activities, and logistics assets that support its refining operations.

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