Q2 2018 EPS Estimates for Valero Energy Co. (VLO) Decreased by Analyst
Valero Energy Co. (NYSE:VLO) – Stock analysts at Jefferies Group dropped their Q2 2018 earnings estimates for shares of Valero Energy in a research note issued on Wednesday. Jefferies Group analyst C. Goldman now anticipates that the oil and gas company will earn $1.87 per share for the quarter, down from their prior forecast of $1.89. Jefferies Group has a “Hold” rating on the stock. Jefferies Group also issued estimates for Valero Energy’s Q3 2018 earnings at $1.75 EPS, Q4 2018 earnings at $1.85 EPS, FY2018 earnings at $6.67 EPS and FY2022 earnings at $7.78 EPS.
Several other research analysts also recently commented on VLO. Bank of America lifted their price objective on Valero Energy from $102.00 to $105.00 and gave the stock a “buy” rating in a report on Wednesday. Citigroup lifted their price objective on Valero Energy from $76.00 to $96.00 and gave the stock a “neutral” rating in a report on Wednesday. Cowen lifted their price objective on Valero Energy from $70.00 to $90.00 and gave the stock an “outperform” rating in a report on Thursday, September 28th. UBS Group reiterated a “neutral” rating and issued a $80.00 price objective (up previously from $69.00) on shares of Valero Energy in a report on Wednesday, September 27th. Finally, Piper Jaffray Companies restated a “hold” rating and set a $98.00 price target on shares of Valero Energy in a report on Monday. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and nine have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $84.94.
Valero Energy (NYSE:VLO) last released its quarterly earnings data on Thursday, October 26th. The oil and gas company reported $1.91 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.83 by $0.08. The firm had revenue of $23.56 billion for the quarter, compared to the consensus estimate of $19.42 billion. Valero Energy had a return on equity of 9.87% and a net margin of 2.33%. The company’s quarterly revenue was up 19.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.24 earnings per share.
A number of institutional investors have recently bought and sold shares of VLO. Mutual of America Capital Management LLC boosted its position in Valero Energy by 1.2% during the 2nd quarter. Mutual of America Capital Management LLC now owns 54,509 shares of the oil and gas company’s stock valued at $3,677,000 after acquiring an additional 649 shares in the last quarter. Van ECK Associates Corp boosted its position in shares of Valero Energy by 26.7% in the 2nd quarter. Van ECK Associates Corp now owns 10,789 shares of the oil and gas company’s stock worth $728,000 after purchasing an additional 2,275 shares in the last quarter. FMR LLC boosted its position in shares of Valero Energy by 146.1% in the 2nd quarter. FMR LLC now owns 2,224,590 shares of the oil and gas company’s stock worth $150,071,000 after purchasing an additional 1,320,524 shares in the last quarter. ETRADE Capital Management LLC boosted its position in shares of Valero Energy by 1.8% in the 2nd quarter. ETRADE Capital Management LLC now owns 10,407 shares of the oil and gas company’s stock worth $702,000 after purchasing an additional 184 shares in the last quarter. Finally, Cibc World Markets Corp boosted its position in shares of Valero Energy by 20.4% in the 2nd quarter. Cibc World Markets Corp now owns 63,194 shares of the oil and gas company’s stock worth $4,263,000 after purchasing an additional 10,693 shares in the last quarter. 81.40% of the stock is currently owned by institutional investors and hedge funds.
In other Valero Energy news, Director Stephen M. Waters sold 1,600 shares of Valero Energy stock in a transaction that occurred on Tuesday, October 31st. The stock was sold at an average price of $78.87, for a total transaction of $126,192.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Michael S. Ciskowski sold 251,530 shares of Valero Energy stock in a transaction that occurred on Wednesday, January 3rd. The shares were sold at an average price of $93.29, for a total value of $23,465,233.70. Following the sale, the chief financial officer now directly owns 309,119 shares in the company, valued at $28,837,711.51. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 301,287 shares of company stock worth $27,860,150. 0.45% of the stock is owned by company insiders.
Valero Energy announced that its Board of Directors has approved a share repurchase program on Tuesday, January 23rd that authorizes the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization authorizes the oil and gas company to purchase shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 6th. Investors of record on Tuesday, February 13th will be issued a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 3.28%. The ex-dividend date of this dividend is Monday, February 12th. This is an increase from Valero Energy’s previous quarterly dividend of $0.70. Valero Energy’s payout ratio is currently 60.74%.
Valero Energy Company Profile
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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