Valero Energy Corp. (VLO) Announces Quarterly Earnings, Beats Expectations By $0.36 EPS
Valero Energy Corp. (NYSE:VLO) posted its quarterly earnings results on Wednesday. The company reported $1.78 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.42 by $0.36, AR Network reports. The company had revenue of $34.43 billion for the quarter, compared to the consensus estimate of $30.85 billion.
Shares of Valero Energy Corp. (NYSE:VLO) opened at 50.20 on Wednesday. Valero Energy Corp. has a 1-year low of $33.00 and a 1-year high of $53.64. The stock has a 50-day moving average of $49.48 and a 200-day moving average of $40.6. The company has a market cap of $27.086 billion and a price-to-earnings ratio of 11.17.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, March 12th. Stockholders of record on Wednesday, February 12th will be given a dividend of 0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date of this dividend is Monday, February 10th. This is a boost from Valero Energy Corp.’s previous quarterly dividend of $0.23.
VLO has been the subject of a number of recent research reports. Analysts at Raymond James downgraded shares of Valero Energy Corp. from a “strong-buy” rating to an “outperform” rating in a research note to investors on Thursday, January 23rd. They now have a $63.00 price target on the stock. On the ratings front, analysts at Macquarie raised their price target on shares of Valero Energy Corp. from $65.00 to $69.00 in a research note to investors on Thursday, January 23rd. Finally, analysts at Citigroup Inc. initiated coverage on shares of Valero Energy Corp. in a research note to investors on Wednesday, January 22nd. They set a “neutral” rating on the stock. Five research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Valero Energy Corp. presently has an average rating of “Buy” and a consensus price target of $52.42.
Valero Energy Corporation (NYSE:VLO) is an independent petroleum refining and marketing company.
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