Valero Energy Corporation (VLO) Expected to Announce Quarterly Sales of $23.13 Billion
Analysts forecast that Valero Energy Corporation (NYSE:VLO) will report $23.13 billion in sales for the current quarter, Zacks reports. Four analysts have provided estimates for Valero Energy Corporation’s earnings. The highest sales estimate is $33.12 billion and the lowest is $16.07 billion. Valero Energy Corporation posted sales of $19.65 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 17.7%. The business is expected to report its next quarterly earnings report before the market opens on Thursday, October 26th.
According to Zacks, analysts expect that Valero Energy Corporation will report full year sales of $23.13 billion for the current financial year, with estimates ranging from $79.19 billion to $104.69 billion. For the next year, analysts anticipate that the firm will post sales of $96.22 billion per share, with estimates ranging from $66.11 billion to $160.21 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that that provide coverage for Valero Energy Corporation.
Valero Energy Corporation (NYSE:VLO) last announced its earnings results on Thursday, July 27th. The oil and gas company reported $1.23 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.08 by $0.15. Valero Energy Corporation had a return on equity of 8.59% and a net margin of 2.17%. The company had revenue of $22.25 billion during the quarter, compared to analyst estimates of $19.32 billion. During the same period last year, the company posted $1.07 earnings per share. The firm’s quarterly revenue was up 13.6% compared to the same quarter last year.
Several analysts recently weighed in on the company. US Capital Advisors downgraded Valero Energy Corporation from an “overweight” rating to a “hold” rating in a research report on Thursday, August 17th. BidaskClub upgraded Valero Energy Corporation from a “strong sell” rating to a “sell” rating in a research report on Tuesday, June 13th. Citigroup Inc. dropped their price objective on Valero Energy Corporation from $70.00 to $68.00 and set a “buy” rating for the company in a research report on Monday, July 17th. Jefferies Group LLC upgraded Valero Energy Corporation from a “hold” rating to a “buy” rating and upped their price objective for the stock from $65.00 to $80.00 in a research report on Thursday, June 22nd. Finally, Deutsche Bank AG restated a “hold” rating and set a $73.00 price objective (up from $65.00) on shares of Valero Energy Corporation in a research report on Wednesday, September 20th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have assigned a buy rating to the company. Valero Energy Corporation presently has an average rating of “Buy” and a consensus price target of $74.40.
Shares of Valero Energy Corporation (NYSE:VLO) opened at 77.69 on Thursday. The company has a 50-day moving average price of $70.63 and a 200-day moving average price of $67.09. The firm has a market capitalization of $34.31 billion, a price-to-earnings ratio of 19.18 and a beta of 1.22. Valero Energy Corporation has a 12 month low of $52.64 and a 12 month high of $77.82.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 7th. Stockholders of record on Wednesday, August 9th were paid a $0.70 dividend. The ex-dividend date was Monday, August 7th. This represents a $2.80 annualized dividend and a dividend yield of 3.60%. Valero Energy Corporation’s payout ratio is 69.14%.
In other news, CFO Michael S. Ciskowski sold 53,012 shares of the stock in a transaction dated Tuesday, September 19th. The stock was sold at an average price of $72.88, for a total value of $3,863,514.56. Following the completion of the sale, the chief financial officer now owns 67,413 shares of the company’s stock, valued at $4,913,059.44. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Stephen M. Waters sold 656 shares of the stock in a transaction dated Thursday, September 28th. The shares were sold at an average price of $75.86, for a total value of $49,764.16. The disclosure for this sale can be found here. In the last three months, insiders sold 55,168 shares of company stock valued at $4,015,279. Insiders own 0.45% of the company’s stock.
Hedge funds have recently modified their holdings of the company. BlackRock Inc. boosted its position in shares of Valero Energy Corporation by 2.8% during the 2nd quarter. BlackRock Inc. now owns 39,298,010 shares of the oil and gas company’s stock valued at $2,651,044,000 after purchasing an additional 1,080,617 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Valero Energy Corporation by 2.2% during the 2nd quarter. Vanguard Group Inc. now owns 34,153,259 shares of the oil and gas company’s stock valued at $2,303,979,000 after purchasing an additional 747,980 shares in the last quarter. Ameriprise Financial Inc. boosted its position in shares of Valero Energy Corporation by 0.6% during the 2nd quarter. Ameriprise Financial Inc. now owns 11,825,862 shares of the oil and gas company’s stock valued at $797,793,000 after purchasing an additional 65,704 shares in the last quarter. LSV Asset Management boosted its position in shares of Valero Energy Corporation by 4.2% during the 2nd quarter. LSV Asset Management now owns 9,076,859 shares of the oil and gas company’s stock valued at $612,324,000 after purchasing an additional 366,009 shares in the last quarter. Finally, American International Group Inc. boosted its position in shares of Valero Energy Corporation by 1.4% during the 1st quarter. American International Group Inc. now owns 7,539,695 shares of the oil and gas company’s stock valued at $499,806,000 after purchasing an additional 102,794 shares in the last quarter. 80.69% 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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