Valero Energy Corporation (NYSE:VLO) - Equities researchers at Jefferies Group upped their Q1 2018 earnings estimates for Valero Energy Corporation in a research report issued on Wednesday. Jefferies Group analyst C. Goldman now expects that the oil and gas company will post earnings per share of $1.58 for the quarter, up from their prior estimate of $1.55. Jefferies Group currently has a “Buy” rating and a $78.00 price objective on the stock. Jefferies Group also issued estimates for Valero Energy Corporation’s Q2 2018 earnings at $1.96 EPS, Q3 2018 earnings at $2.03 EPS, Q4 2018 earnings at $2.07 EPS, FY2020 earnings at $7.19 EPS and FY2021 earnings at $6.80 EPS.
Valero Energy Corporation (NYSE:VLO) last announced its earnings results on Thursday, July 27th. The oil and gas company reported $1.23 EPS for the quarter, beating analysts’ consensus estimates of $1.08 by $0.15. The business had revenue of $22.25 billion for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period in the previous year, the company posted $1.07 EPS.
A number of other brokerages also recently issued reports on VLO. BidaskClub downgraded Valero Energy Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, August 2nd. Scotiabank set a $70.00 price target on Valero Energy Corporation and gave the stock a “buy” rating in a research report on Thursday, July 27th. Citigroup Inc. reduced their price target on Valero Energy Corporation from $70.00 to $68.00 and set a “buy” rating on the stock in a research report on Monday, July 17th. Standpoint Research began coverage on Valero Energy Corporation in a research report on Friday, June 30th. They set an “accumulate” rating and a $84.00 price target on the stock. Finally, Credit Suisse Group reissued a “hold” rating and set a $65.00 price target on shares of Valero Energy Corporation in a research report on Wednesday, June 21st. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and twelve have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $72.62.
Valero Energy Corporation (VLO) opened at 67.44 on Thursday. The firm has a market capitalization of $29.79 billion, a PE ratio of 16.65 and a beta of 1.21. The stock has a 50 day moving average of $67.28 and a 200-day moving average of $66.10. Valero Energy Corporation has a one year low of $51.17 and a one year high of $71.40.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 7th. Investors of record on Wednesday, August 9th will be issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 4.15%. The ex-dividend date of this dividend is Monday, August 7th. Valero Energy Corporation’s dividend payout ratio (DPR) is 69.14%.
In related news, Director Susan Kaufman Purcell sold 5,151 shares of the firm’s stock in a transaction on Wednesday, June 21st. The stock was sold at an average price of $64.68, for a total transaction of $333,166.68. Following the sale, the director now owns 9,866 shares of the company’s stock, valued at approximately $638,132.88. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.45% of the company’s stock.
Several large investors have recently added to or reduced their stakes in VLO. Navellier & Associates Inc bought a new position in shares of Valero Energy Corporation during the second quarter valued at about $422,000. Sentry Investment Management LLC raised its position in shares of Valero Energy Corporation by 4.4% in the second quarter. Sentry Investment Management LLC now owns 35,564 shares of the oil and gas company’s stock valued at $2,399,000 after buying an additional 1,483 shares in the last quarter. Toronto Dominion Bank raised its position in shares of Valero Energy Corporation by 15.5% in the second quarter. Toronto Dominion Bank now owns 158,552 shares of the oil and gas company’s stock valued at $10,695,000 after buying an additional 21,286 shares in the last quarter. Oak Associates Ltd. OH raised its position in shares of Valero Energy Corporation by 17.2% in the second quarter. Oak Associates Ltd. OH now owns 106,720 shares of the oil and gas company’s stock valued at $7,199,000 after buying an additional 15,650 shares in the last quarter. Finally, Cetera Investment Advisers raised its position in shares of Valero Energy Corporation by 6.2% in the second quarter. Cetera Investment Advisers now owns 4,525 shares of the oil and gas company’s stock valued at $304,000 after buying an additional 265 shares in the last quarter. 78.88% of the stock is currently owned by institutional investors.
About Valero Energy Corporation
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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