$22.10 Billion in Sales Expected for Valero Energy Co. (NYSE:VLO) This Quarter

Brokerages forecast that Valero Energy Co. (NYSE:VLO) will post sales of $22.10 billion for the current quarter, Zacks reports. Three analysts have provided estimates for Valero Energy’s earnings. The highest sales estimate is $29.27 billion and the lowest is $18.31 billion. Valero Energy posted sales of $27.88 billion in the same quarter last year, which suggests a negative year-over-year growth rate of 20.7%. The firm is scheduled to issue its next earnings report on Thursday, February 4th.

On average, analysts expect that Valero Energy will report full-year sales of $69.31 billion for the current financial year, with estimates ranging from $61.38 billion to $82.21 billion. For the next fiscal year, analysts anticipate that the company will post sales of $83.83 billion, with estimates ranging from $71.24 billion to $94.72 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that cover Valero Energy.

Valero Energy (NYSE:VLO) last announced its quarterly earnings data on Thursday, October 22nd. The oil and gas company reported ($1.16) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.35) by $0.19. The firm had revenue of $15.81 billion during the quarter, compared to analysts’ expectations of $14.79 billion. Valero Energy had a net margin of 1.22% and a return on equity of 5.30%. The business’s revenue for the quarter was down 42.0% compared to the same quarter last year. During the same quarter last year, the business earned $1.48 earnings per share.

A number of research firms recently issued reports on VLO. Barclays reduced their target price on Valero Energy from $71.00 to $62.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 6th. Wells Fargo & Company reiterated a “buy” rating on shares of Valero Energy in a report on Thursday, July 30th. CSFB reiterated a “buy” rating on shares of Valero Energy in a report on Wednesday, September 30th. The Goldman Sachs Group cut Valero Energy from a “neutral” rating to a “sell” rating and lowered their target price for the company from $48.00 to $37.00 in a report on Thursday, October 1st. Finally, Credit Suisse Group reiterated a “buy” rating on shares of Valero Energy in a report on Wednesday, September 30th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and fourteen have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $65.36.

VLO stock opened at $50.82 on Thursday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.75 and a quick ratio of 1.01. The company’s 50 day simple moving average is $42.87 and its 200-day simple moving average is $53.52. Valero Energy has a 12 month low of $31.00 and a 12 month high of $99.72. The firm has a market capitalization of $20.72 billion, a PE ratio of 19.62 and a beta of 1.89.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 9th. Stockholders of record on Wednesday, November 18th will be issued a dividend of $0.98 per share. This represents a $3.92 annualized dividend and a dividend yield of 7.71%. The ex-dividend date of this dividend is Tuesday, November 17th. Valero Energy’s dividend payout ratio (DPR) is 68.77%.

Several hedge funds have recently bought and sold shares of the company. National Asset Management Inc. boosted its position in shares of Valero Energy by 0.9% in the 2nd quarter. National Asset Management Inc. now owns 21,435 shares of the oil and gas company’s stock valued at $1,262,000 after purchasing an additional 181 shares during the period. Covenant Asset Management LLC lifted its stake in Valero Energy by 1.8% in the 2nd quarter. Covenant Asset Management LLC now owns 11,112 shares of the oil and gas company’s stock worth $654,000 after acquiring an additional 193 shares in the last quarter. Sunbelt Securities Inc. lifted its stake in Valero Energy by 0.6% in the 2nd quarter. Sunbelt Securities Inc. now owns 32,100 shares of the oil and gas company’s stock worth $1,888,000 after acquiring an additional 206 shares in the last quarter. Princeton Capital Management LLC lifted its stake in Valero Energy by 3.0% in the 2nd quarter. Princeton Capital Management LLC now owns 7,218 shares of the oil and gas company’s stock worth $425,000 after acquiring an additional 207 shares in the last quarter. Finally, Cambria Investment Management L.P. lifted its stake in Valero Energy by 2.6% in the 3rd quarter. Cambria Investment Management L.P. now owns 8,269 shares of the oil and gas company’s stock worth $358,000 after acquiring an additional 212 shares in the last quarter. Institutional investors and hedge funds own 73.55% of the company’s stock.

About Valero Energy

Valero Energy Corporation manufactures and sells transportation fuels and petrochemical products in the United States, Canada, the United Kingdom, Ireland, and internationally. It operates through three segments: Refining, Ethanol, and Renewable Diesel. The company is involved in oil and gas refining, marketing, and bulk selling activities.

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Earnings History and Estimates for Valero Energy (NYSE:VLO)

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