Valero Energy Co. (NYSE:VLO – Free Report) – Investment analysts at Zacks Research lifted their Q3 2023 earnings per share (EPS) estimates for shares of Valero Energy in a report released on Thursday, August 24th. Zacks Research analyst U. Dutta now forecasts that the oil and gas company will earn $5.77 per share for the quarter, up from their previous forecast of $5.18. The consensus estimate for Valero Energy’s current full-year earnings is $23.90 per share. Zacks Research also issued estimates for Valero Energy’s Q4 2023 earnings at $3.93 EPS, FY2023 earnings at $23.37 EPS, Q1 2024 earnings at $3.22 EPS, Q2 2024 earnings at $3.85 EPS, Q3 2024 earnings at $3.89 EPS, Q4 2024 earnings at $4.15 EPS, FY2024 earnings at $15.11 EPS, Q1 2025 earnings at $3.34 EPS, Q2 2025 earnings at $3.14 EPS and FY2025 earnings at $14.64 EPS.
Other equities research analysts have also recently issued research reports about the company. Mizuho upped their price target on Valero Energy from $152.00 to $162.00 and gave the stock a “buy” rating in a report on Wednesday, August 16th. Bank of America cut Valero Energy from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $160.00 to $152.00 in a report on Tuesday, August 15th. Wells Fargo & Company upped their price target on Valero Energy from $120.00 to $135.00 and gave the stock an “equal weight” rating in a report on Friday, July 28th. Barclays upped their price target on Valero Energy from $139.00 to $142.00 and gave the stock an “overweight” rating in a report on Monday, August 7th. Finally, Tudor, Pickering, Holt & Co. upgraded Valero Energy from a “hold” rating to a “buy” rating and set a $145.00 price target on the stock in a report on Monday, July 31st. One investment analyst has rated the stock with a sell rating, two have given a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $152.00.
Valero Energy Stock Performance
NYSE VLO opened at $133.12 on Monday. The company has a current ratio of 1.59, a quick ratio of 1.12 and a debt-to-equity ratio of 0.36. The business’s 50 day moving average is $122.68 and its two-hundred day moving average is $123.36. Valero Energy has a 12-month low of $97.73 and a 12-month high of $150.39. The stock has a market capitalization of $47.01 billion, a price-to-earnings ratio of 4.59, a PEG ratio of 0.93 and a beta of 1.66.
Valero Energy (NYSE:VLO – Get Free Report) last released its earnings results on Thursday, July 27th. The oil and gas company reported $5.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.08 by $0.32. Valero Energy had a return on equity of 42.31% and a net margin of 6.96%. The company had revenue of $34.51 billion for the quarter, compared to analysts’ expectations of $34.37 billion. During the same quarter in the previous year, the firm posted $11.36 EPS. The firm’s quarterly revenue was down 33.2% on a year-over-year basis.
Institutional Trading of Valero Energy
Several large investors have recently modified their holdings of the business. Morgan Stanley grew its stake in shares of Valero Energy by 4.1% during the fourth quarter. Morgan Stanley now owns 10,065,228 shares of the oil and gas company’s stock valued at $1,276,875,000 after acquiring an additional 395,771 shares in the last quarter. Bank of America Corp DE grew its stake in Valero Energy by 96.2% in the first quarter. Bank of America Corp DE now owns 9,389,258 shares of the oil and gas company’s stock worth $1,310,740,000 after purchasing an additional 4,604,158 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Valero Energy by 5.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 8,682,401 shares of the oil and gas company’s stock worth $1,101,449,000 after purchasing an additional 411,009 shares in the last quarter. Nuveen Asset Management LLC grew its stake in Valero Energy by 7.6% in the second quarter. Nuveen Asset Management LLC now owns 6,128,301 shares of the oil and gas company’s stock worth $718,850,000 after purchasing an additional 434,057 shares in the last quarter. Finally, Norges Bank acquired a new position in Valero Energy in the fourth quarter worth about $534,892,000. 78.00% of the stock is currently owned by institutional investors and hedge funds.
Insiders Place Their Bets
In other Valero Energy news, Director Joseph W. Gorder sold 75,580 shares of the company’s stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $135.99, for a total transaction of $10,278,124.20. Following the completion of the sale, the director now directly owns 621,872 shares in the company, valued at $84,568,373.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.04% of the company’s stock.
Valero Energy Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 5th. Shareholders of record on Thursday, August 3rd will be paid a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a dividend yield of 3.06%. The ex-dividend date is Wednesday, August 2nd. Valero Energy’s dividend payout ratio is presently 14.05%.
About Valero Energy
Valero Energy Corporation manufactures, markets, and sells transportation fuels and petrochemical products in the United States, Canada, the United Kingdom, Ireland, Latin America, and internationally. It operates through three segments: Refining, Renewable Diesel, and Ethanol. The company produces California Reformulated Gasoline Blendstock for Oxygenate Blending and Conventional Blendstock for Oxygenate Blending gasolines, CARB diesel, diesel, jet fuel, and asphalt; aromatics; and sulfur crude oils.
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