Scotiabank Forecasts Valero Energy FY2024 Earnings

Valero Energy Co. (NYSE:VLO) – Equities researchers at Scotiabank issued their FY2024 earnings per share estimates for shares of Valero Energy in a research note issued on Wednesday, January 8th. Scotiabank analyst P. Cheng forecasts that the oil and gas company will post earnings of $8.65 per share for the year. Scotiabank has a “Sector Outperform” rating and a $141.00 price objective on the stock. The consensus estimate for Valero Energy’s current full-year earnings is $8.86 per share. Scotiabank also issued estimates for Valero Energy’s FY2025 earnings at $9.45 EPS.

Valero Energy (NYSE:VLO) last announced its quarterly earnings results on Thursday, October 24th. The oil and gas company reported $1.14 EPS for the quarter, beating the consensus estimate of $0.98 by $0.16. Valero Energy had a return on equity of 13.07% and a net margin of 2.74%. The business had revenue of $32.88 billion during the quarter, compared to analysts’ expectations of $31.04 billion. During the same quarter in the previous year, the business posted $7.49 EPS. The firm’s quarterly revenue was down 14.4% compared to the same quarter last year.

A number of other analysts have also recently weighed in on VLO. JPMorgan Chase & Co. reduced their price target on Valero Energy from $172.00 to $151.00 and set an “overweight” rating for the company in a research report on Wednesday, October 2nd. BMO Capital Markets reduced their target price on Valero Energy from $175.00 to $165.00 and set an “outperform” rating for the company in a report on Friday, October 4th. Mizuho lowered their price target on Valero Energy from $165.00 to $158.00 and set an “outperform” rating on the stock in a report on Wednesday, January 8th. Barclays reduced their price objective on shares of Valero Energy from $146.00 to $140.00 and set an “overweight” rating for the company in a research note on Monday, November 11th. Finally, Bank of America started coverage on shares of Valero Energy in a research note on Thursday, October 17th. They issued a “neutral” rating and a $150.00 target price on the stock. One research analyst has rated the stock with a sell rating, three have issued a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Valero Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $154.57.

Valero Energy Stock Up 0.6 %

VLO stock opened at $134.18 on Monday. The firm has a market cap of $42.48 billion, a PE ratio of 12.03, a PEG ratio of 2.43 and a beta of 1.42. Valero Energy has a 1 year low of $116.84 and a 1 year high of $184.79. The company has a fifty day simple moving average of $131.10 and a 200 day simple moving average of $138.59. The company has a current ratio of 1.57, a quick ratio of 1.11 and a debt-to-equity ratio of 0.35.

Institutional Trading of Valero Energy

Several institutional investors have recently modified their holdings of the company. Peterson Financial Group Inc. bought a new position in Valero Energy in the third quarter worth $28,000. Compagnie Lombard Odier SCmA bought a new position in shares of Valero Energy during the 3rd quarter worth about $34,000. True Wealth Design LLC boosted its position in shares of Valero Energy by 196.8% during the 3rd quarter. True Wealth Design LLC now owns 276 shares of the oil and gas company’s stock valued at $37,000 after acquiring an additional 183 shares in the last quarter. Harbor Capital Advisors Inc. bought a new stake in Valero Energy in the third quarter valued at about $38,000. Finally, Ashton Thomas Securities LLC acquired a new position in Valero Energy in the third quarter worth about $50,000. Institutional investors and hedge funds own 78.69% of the company’s stock.

Valero Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Wednesday, November 20th were issued a $1.07 dividend. The ex-dividend date of this dividend was Wednesday, November 20th. This represents a $4.28 annualized dividend and a yield of 3.19%. Valero Energy’s dividend payout ratio (DPR) is 38.39%.

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.