Q3 2016 Earnings Forecast for Valero Energy Co. Issued By Jefferies Group (VLO)
Valero Energy Co. (NYSE:VLO) – Analysts at Jefferies Group reduced their Q3 2016 earnings per share estimates for Valero Energy in a report released on Thursday. Jefferies Group analyst C. Goldman now expects that the brokerage will post earnings per share of $0.90 for the quarter, down from their previous estimate of $0.96. Jefferies Group has a “Buy” rating and a $66.00 price objective on the stock. Jefferies Group also issued estimates for Valero Energy’s FY2016 earnings at $3.49 EPS and FY2017 earnings at $5.43 EPS.
Several other research analysts have also issued reports on the stock. Zacks Investment Research upgraded shares of Valero Energy from a “sell” rating to a “hold” rating in a research report on Tuesday, September 6th. Vetr upgraded shares of Valero Energy from a “buy” rating to a “strong-buy” rating and set a $63.15 price target on the stock in a research report on Wednesday, August 31st. Piper Jaffray Cos. lifted their price target on shares of Valero Energy from $48.00 to $54.00 and gave the stock a “neutral” rating in a research report on Monday, August 22nd. Barclays PLC restated an “overweight” rating and issued a $73.00 price target on shares of Valero Energy in a research report on Thursday, July 28th. Finally, Scotiabank restated a “sector outperform” rating and issued a $60.00 price target (down previously from $61.00) on shares of Valero Energy in a research report on Wednesday, July 27th. Nine equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $69.76.
Valero Energy (NYSE:VLO) traded down 0.07% during midday trading on Friday, reaching $53.81. The company had a trading volume of 1,316,309 shares. Valero Energy has a 52-week low of $46.88 and a 52-week high of $73.88. The company has a market capitalization of $24.82 billion, a P/E ratio of 8.65 and a beta of 1.87. The company’s 50 day moving average is $54.95 and its 200-day moving average is $55.18.
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Valero Energy (NYSE:VLO) last posted its earnings results on Tuesday, July 26th. The company reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.03 by $0.04. Valero Energy had a return on equity of 14.05% and a net margin of 3.89%. The firm had revenue of $19.58 billion for the quarter, compared to analyst estimates of $16.79 billion. During the same quarter in the prior year, the company earned $2.66 EPS. Valero Energy’s revenue was down 22.0% on a year-over-year basis.
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Cullen Frost Bankers Inc. increased its position in Valero Energy by 8.1% in the second quarter. Cullen Frost Bankers Inc. now owns 345,392 shares of the company’s stock valued at $17,615,000 after buying an additional 25,916 shares during the last quarter. Retirement Systems of Alabama increased its position in Valero Energy by 1.3% in the second quarter. Retirement Systems of Alabama now owns 239,510 shares of the company’s stock valued at $12,215,000 after buying an additional 3,028 shares during the last quarter. Legal & General Group Plc increased its position in Valero Energy by 2.3% in the first quarter. Legal & General Group Plc now owns 2,455,753 shares of the company’s stock valued at $157,474,000 after buying an additional 56,133 shares during the last quarter. Douglas Lane & Associates LLC increased its position in Valero Energy by 4.5% in the second quarter. Douglas Lane & Associates LLC now owns 593,791 shares of the company’s stock valued at $30,283,000 after buying an additional 25,327 shares during the last quarter. Finally, Bank of Montreal Can bought a new position in Valero Energy during the second quarter valued at about $176,332,000. Hedge funds and other institutional investors own 78.49% of the company’s stock.
About Valero Energy
Valero Energy Corporation (Valero), through Valero Energy Partners LP (VLP), owns, operates, develops and acquires crude oil and refined petroleum products pipelines, terminals, and other transportation and logistics assets. The Company operates in two segments: refining and ethanol. Its refining segment includes refining and marketing operations in the United States, Canada, the United Kingdom, Aruba and Ireland.
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