Zacks Research Weighs in on Valero Energy Co.’s Q1 2024 Earnings (NYSE:VLO)

Valero Energy Co. (NYSE:VLO) – Analysts at Zacks Research increased their Q1 2024 earnings estimates for shares of Valero Energy in a research report issued to clients and investors on Monday, April 22nd. Zacks Research analyst R. Department now anticipates that the oil and gas company will earn $3.08 per share for the quarter, up from their previous forecast of $3.05. The consensus estimate for Valero Energy’s current full-year earnings is $18.25 per share. Zacks Research also issued estimates for Valero Energy’s Q2 2024 earnings at $5.06 EPS, Q3 2024 earnings at $4.86 EPS, Q4 2024 earnings at $3.15 EPS, FY2024 earnings at $16.15 EPS, Q1 2025 earnings at $3.56 EPS, Q2 2025 earnings at $3.67 EPS, Q3 2025 earnings at $3.47 EPS, Q4 2025 earnings at $2.17 EPS, FY2025 earnings at $12.87 EPS, Q1 2026 earnings at $2.80 EPS and FY2026 earnings at $11.21 EPS.

VLO has been the topic of a number of other reports. The Goldman Sachs Group upped their price target on Valero Energy from $130.00 to $171.00 and gave the stock a “sell” rating in a research note on Friday, March 22nd. Bank of America upgraded Valero Energy from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $156.00 to $210.00 in a research note on Friday, March 15th. Scotiabank lifted their price target on Valero Energy from $138.00 to $165.00 and gave the stock a “sector outperform” rating in a research report on Thursday, April 11th. Mizuho downgraded shares of Valero Energy from a “buy” rating to a “neutral” rating and increased their target price for the stock from $150.00 to $173.00 in a research note on Friday, March 22nd. Finally, TD Cowen boosted their price target on shares of Valero Energy from $175.00 to $190.00 and gave the stock a “buy” rating in a research note on Monday, April 8th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $173.63.

Valero Energy Price Performance

NYSE:VLO opened at $165.94 on Tuesday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.11 and a current ratio of 1.56. The stock has a 50 day moving average price of $159.00 and a 200 day moving average price of $139.68. Valero Energy has a one year low of $104.18 and a one year high of $184.79. The stock has a market cap of $55.17 billion, a PE ratio of 6.71, a P/E/G ratio of 1.50 and a beta of 1.54.

Valero Energy (NYSE:VLO) last announced its earnings results on Thursday, January 25th. The oil and gas company reported $3.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.95 by $0.60. The firm had revenue of $35.41 billion for the quarter, compared to analyst estimates of $34.76 billion. Valero Energy had a return on equity of 31.62% and a net margin of 6.10%. The business’s revenue was down 15.2% on a year-over-year basis. During the same quarter last year, the firm posted $8.45 EPS.

Hedge Funds Weigh In On Valero Energy

A number of institutional investors have recently added to or reduced their stakes in VLO. Deutsche Bank AG lifted its stake in shares of Valero Energy by 5.8% in the third quarter. Deutsche Bank AG now owns 1,005,346 shares of the oil and gas company’s stock worth $142,468,000 after acquiring an additional 55,351 shares in the last quarter. Stiles Financial Services Inc increased its stake in shares of Valero Energy by 49.7% in the fourth quarter. Stiles Financial Services Inc now owns 7,615 shares of the oil and gas company’s stock worth $991,000 after buying an additional 2,529 shares during the last quarter. Pacer Advisors Inc. raised its holdings in Valero Energy by 14.0% in the fourth quarter. Pacer Advisors Inc. now owns 2,788,994 shares of the oil and gas company’s stock valued at $362,569,000 after acquiring an additional 342,218 shares in the last quarter. Nordea Investment Management AB raised its stake in shares of Valero Energy by 3.0% in the 4th quarter. Nordea Investment Management AB now owns 645,726 shares of the oil and gas company’s stock valued at $83,867,000 after purchasing an additional 18,575 shares in the last quarter. Finally, Public Sector Pension Investment Board grew its stake in Valero Energy by 10.5% in the third quarter. Public Sector Pension Investment Board now owns 83,290 shares of the oil and gas company’s stock worth $11,803,000 after purchasing an additional 7,910 shares in the last quarter. Institutional investors and hedge funds own 78.69% of the company’s stock.

Valero Energy Company Profile

Valero Energy Corporation manufactures, markets, and sells petroleum-based and low-carbon liquid transportation fuels and petrochemical products in the United States, Canada, the United Kingdom, Ireland, Latin America, Mexico, Peru, and internationally. It operates through three segments: Refining, Renewable Diesel, and Ethanol.