Valero Energy Co. (NYSE:VLO) Expected to Announce Quarterly Sales of $15.01 Billion

Brokerages predict that Valero Energy Co. (NYSE:VLO) will announce sales of $15.01 billion for the current quarter, Zacks reports. Three analysts have provided estimates for Valero Energy’s earnings, with the lowest sales estimate coming in at $11.40 billion and the highest estimate coming in at $21.70 billion. Valero Energy reported sales of $28.93 billion during the same quarter last year, which indicates a negative year over year growth rate of 48.1%. The firm is expected to issue its next earnings results on Thursday, July 23rd.

According to Zacks, analysts expect that Valero Energy will report full year sales of $72.59 billion for the current financial year, with estimates ranging from $61.14 billion to $92.41 billion. For the next year, analysts forecast that the firm will post sales of $92.91 billion, with estimates ranging from $69.88 billion to $105.46 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for Valero Energy.

Valero Energy (NYSE:VLO) last posted its quarterly earnings results on Wednesday, April 29th. The oil and gas company reported $0.34 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.15) by $0.49. Valero Energy had a net margin of 0.41% and a return on equity of 10.51%. The firm had revenue of $22.10 billion during the quarter, compared to the consensus estimate of $20.22 billion. During the same quarter in the previous year, the firm posted $0.34 earnings per share. The company’s revenue was down 8.9% on a year-over-year basis.

VLO has been the subject of a number of recent research reports. Royal Bank of Canada reissued a “buy” rating and issued a $102.00 price objective on shares of Valero Energy in a research note on Monday, February 3rd. Raymond James boosted their price objective on shares of Valero Energy from $60.00 to $64.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 28th. Argus reduced their price objective on shares of Valero Energy from $110.00 to $61.00 and set a “buy” rating for the company in a research note on Wednesday, April 15th. Morgan Stanley boosted their price objective on shares of Valero Energy from $65.00 to $85.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 13th. Finally, Wells Fargo & Co boosted their price objective on shares of Valero Energy from $65.00 to $70.00 and gave the stock an “overweight” rating in a research note on Thursday, April 30th. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Valero Energy has a consensus rating of “Buy” and an average target price of $79.50.

In related news, Director Randall J. Weisenburger acquired 45,000 shares of the company’s stock in a transaction dated Thursday, March 12th. The shares were purchased at an average cost of $47.31 per share, with a total value of $2,128,950.00. Following the completion of the acquisition, the director now directly owns 100,274 shares of the company’s stock, valued at $4,743,962.94. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 0.34% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently made changes to their positions in VLO. Marshall Wace LLP purchased a new stake in shares of Valero Energy during the first quarter valued at $90,000. Capital Investment Advisors LLC boosted its holdings in Valero Energy by 3.5% in the fourth quarter. Capital Investment Advisors LLC now owns 119,924 shares of the oil and gas company’s stock valued at $11,231,000 after purchasing an additional 4,034 shares during the last quarter. Squar Milner Financial Services LLC boosted its holdings in Valero Energy by 15.4% in the fourth quarter. Squar Milner Financial Services LLC now owns 3,501 shares of the oil and gas company’s stock valued at $327,000 after purchasing an additional 467 shares during the last quarter. Bristlecone Advisors LLC boosted its holdings in Valero Energy by 4.2% in the fourth quarter. Bristlecone Advisors LLC now owns 20,873 shares of the oil and gas company’s stock valued at $1,955,000 after purchasing an additional 838 shares during the last quarter. Finally, Empire Life Investments Inc. boosted its holdings in Valero Energy by 1.5% in the fourth quarter. Empire Life Investments Inc. now owns 230,767 shares of the oil and gas company’s stock valued at $21,611,000 after purchasing an additional 3,407 shares during the last quarter. 78.51% of the stock is currently owned by hedge funds and other institutional investors.

NYSE:VLO traded down $0.05 during trading hours on Wednesday, reaching $65.68. The company’s stock had a trading volume of 3,506,476 shares, compared to its average volume of 5,087,627. The company has a market capitalization of $26.80 billion, a P/E ratio of 12.04 and a beta of 1.96. Valero Energy has a 12 month low of $31.00 and a 12 month high of $101.99. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.89 and a current ratio of 1.31. The stock has a 50 day moving average price of $54.99 and a two-hundred day moving average price of $76.01.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 3rd. Shareholders of record on Thursday, May 14th will be issued a $0.98 dividend. This represents a $3.92 annualized dividend and a yield of 5.97%. The ex-dividend date is Wednesday, May 13th. Valero Energy’s dividend payout ratio is currently 68.77%.

Valero Energy Company Profile

Valero Energy Corporation operates as an independent petroleum refining and ethanol producing company in the United States, Canada, the United Kingdom, Ireland, and internationally. It operates through three segments: Refining, Ethanol, and VLP (Valero Energy Partners LP). 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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