Brokers Issue Forecasts for Valero Energy Corporation’s Q2 2018 Earnings (VLO)
Valero Energy Corporation (NYSE:VLO) – Equities research analysts at Jefferies Group issued their Q2 2018 earnings estimates for shares of Valero Energy Corporation in a research report issued to clients and investors on Thursday. Jefferies Group analyst C. Goldman anticipates that the oil and gas company will post earnings of $1.98 per share for the quarter. Jefferies Group has a “Buy” rating and a $80.00 price target on the stock. Jefferies Group also issued estimates for Valero Energy Corporation’s Q3 2018 earnings at $2.06 EPS and FY2020 earnings at $7.48 EPS.
Valero Energy Corporation (NYSE:VLO) last released its earnings results on Tuesday, April 25th. The oil and gas company reported $0.68 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.60 by $0.08. Valero Energy Corporation had a net margin of 2.57% and a return on equity of 8.31%. The company had revenue of $21.77 billion during the quarter, compared to analysts’ expectations of $19.15 billion. During the same quarter last year, the business earned $0.60 EPS. The business’s revenue was up 38.6% on a year-over-year basis. COPYRIGHT VIOLATION NOTICE: “Brokers Issue Forecasts for Valero Energy Corporation’s Q2 2018 Earnings (VLO)” was published by American Banking News and is the property of of American Banking News. If you are accessing this report on another domain, it was copied illegally and republished in violation of U.S. & international trademark & copyright laws. The correct version of this report can be read at https://www.americanbankingnews.com/2017/06/23/brokers-issue-forecasts-for-valero-energy-corporations-q2-2018-earnings-vlo.html.
Other equities analysts also recently issued research reports about the stock. Goldman Sachs Group, Inc. (The) downgraded shares of Valero Energy Corporation from a “buy” rating to a “neutral” rating and boosted their price target for the company from $65.55 to $73.00 in a report on Tuesday, May 16th. BidaskClub raised shares of Valero Energy Corporation from a “strong sell” rating to a “sell” rating in a report on Tuesday, June 13th. US Capital Advisors reissued an “overweight” rating on shares of Valero Energy Corporation in a report on Monday, May 22nd. Citigroup Inc. reissued a “neutral” rating and set a $70.00 price target (up previously from $69.50) on shares of Valero Energy Corporation in a report on Saturday, April 22nd. Finally, Scotiabank reissued a “buy” rating and set a $70.00 price target on shares of Valero Energy Corporation in a report on Monday, March 27th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $70.89.
Valero Energy Corporation (NYSE:VLO) traded up 0.73% during mid-day trading on Friday, hitting $65.29. 793,841 shares of the stock traded hands. Valero Energy Corporation has a 1-year low of $46.88 and a 1-year high of $71.40. The firm has a market cap of $29.20 billion, a price-to-earnings ratio of 14.28 and a beta of 1.28. The stock has a 50-day moving average of $64.38 and a 200 day moving average of $66.10.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 7th. Shareholders of record on Wednesday, May 17th were issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 4.32%. The ex-dividend date of this dividend was Monday, May 15th. Valero Energy Corporation’s payout ratio is 61.54%.
In other Valero Energy Corporation news, Director Susan Kaufman Purcell sold 5,151 shares of the company’s stock in a transaction dated Wednesday, June 21st. The shares were sold at an average price of $64.68, for a total value of $333,166.68. Following the completion of the sale, the director now directly owns 9,866 shares of the company’s stock, valued at approximately $638,132.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.45% of the stock is currently owned by corporate insiders.
A number of large investors have recently modified their holdings of VLO. Sii Investments Inc. WI increased its stake in Valero Energy Corporation by 4.7% in the fourth quarter. Sii Investments Inc. WI now owns 18,522 shares of the oil and gas company’s stock valued at $1,269,000 after buying an additional 837 shares during the last quarter. Good Life Advisors LLC bought a new stake in Valero Energy Corporation during the fourth quarter valued at about $285,000. Asset Management One Co. Ltd. increased its stake in Valero Energy Corporation by 738.8% in the fourth quarter. Asset Management One Co. Ltd. now owns 877,481 shares of the oil and gas company’s stock valued at $59,970,000 after buying an additional 772,867 shares during the last quarter. Gabelli Funds LLC increased its stake in Valero Energy Corporation by 42.4% in the fourth quarter. Gabelli Funds LLC now owns 121,000 shares of the oil and gas company’s stock valued at $8,267,000 after buying an additional 36,000 shares during the last quarter. Finally, Altavista Wealth Management Inc. increased its stake in Valero Energy Corporation by 7.7% in the fourth quarter. Altavista Wealth Management Inc. now owns 19,629 shares of the oil and gas company’s stock valued at $1,341,000 after buying an additional 1,399 shares during the last quarter. 80.61% of the stock is 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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