Zacks: Brokerages Anticipate Valero Energy (VLO) Will Announce Quarterly Sales of $27.23 Billion

Wall Street analysts expect Valero Energy (NYSE:VLO) to announce $27.23 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for Valero Energy’s earnings, with the highest sales estimate coming in at $32.03 billion and the lowest estimate coming in at $20.25 billion. Valero Energy reported sales of $22.25 billion in the same quarter last year, which would suggest a positive year-over-year growth rate of 22.4%. The company is scheduled to issue its next earnings results on Thursday, July 26th.

On average, analysts expect that Valero Energy will report full-year sales of $102.54 billion for the current financial year, with estimates ranging from $87.87 billion to $111.89 billion. For the next fiscal year, analysts anticipate that the company will post sales of $104.18 billion per share, with estimates ranging from $85.48 billion to $124.46 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow Valero Energy.

Valero Energy (NYSE:VLO) last announced its quarterly earnings data on Thursday, April 26th. The oil and gas company reported $1.00 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.93 by $0.07. The business had revenue of $264.90 million for the quarter, compared to analyst estimates of $23.35 billion. Valero Energy had a net margin of 4.29% and a return on equity of 10.61%. Valero Energy’s revenue was down 98.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.68 earnings per share.

Several equities research analysts have weighed in on VLO shares. Morgan Stanley increased their target price on shares of Valero Energy from $100.00 to $110.00 and gave the stock an “equal weight” rating in a report on Monday, April 16th. Scotiabank reiterated a “sector perform” rating on shares of Valero Energy in a report on Thursday, April 12th. Citigroup upgraded shares of Valero Energy from a “neutral” rating to a “buy” rating and set a $114.00 target price on the stock in a report on Wednesday, February 14th. Piper Jaffray Companies reiterated a “hold” rating and issued a $113.00 target price on shares of Valero Energy in a report on Tuesday, April 24th. Finally, Deutsche Bank cut their target price on shares of Valero Energy from $98.00 to $95.00 and set a “hold” rating on the stock in a report on Monday, March 19th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and twelve have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $104.18.

VLO traded down $3.15 during mid-day trading on Monday, hitting $118.73. The stock had a trading volume of 3,581,170 shares, compared to its average volume of 3,923,608. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.09 and a current ratio of 1.70. The firm has a market cap of $52.53 billion, a PE ratio of 23.94, a price-to-earnings-growth ratio of 1.86 and a beta of 1.02. Valero Energy has a 1-year low of $60.69 and a 1-year high of $122.94.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 5th. Stockholders of record on Thursday, May 17th will be given a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 2.70%. The ex-dividend date is Wednesday, May 16th. Valero Energy’s dividend payout ratio is 64.52%.

In other news, Director Stephen M. Waters sold 1,000 shares of the stock in a transaction on Wednesday, May 23rd. The shares were sold at an average price of $121.04, for a total transaction of $121,040.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Joseph W. Gorder sold 85,493 shares of the stock in a transaction on Monday, May 21st. The stock was sold at an average price of $121.23, for a total transaction of $10,364,316.39. Following the sale, the insider now directly owns 524,864 shares of the company’s stock, valued at approximately $63,629,262.72. The disclosure for this sale can be found here. 0.45% of the stock is owned by corporate insiders.

Several hedge funds have recently modified their holdings of VLO. Amundi Pioneer Asset Management Inc. bought a new position in Valero Energy in the fourth quarter valued at $302,721,000. Bank of New York Mellon Corp grew its position in Valero Energy by 5.8% in the fourth quarter. Bank of New York Mellon Corp now owns 11,932,482 shares of the oil and gas company’s stock valued at $1,096,715,000 after purchasing an additional 658,940 shares in the last quarter. Natixis grew its position in Valero Energy by 4,649.9% in the first quarter. Natixis now owns 508,147 shares of the oil and gas company’s stock valued at $47,141,000 after purchasing an additional 497,449 shares in the last quarter. Wells Fargo & Company MN grew its position in Valero Energy by 20.3% in the fourth quarter. Wells Fargo & Company MN now owns 2,930,471 shares of the oil and gas company’s stock valued at $269,338,000 after purchasing an additional 494,511 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. grew its position in Valero Energy by 70.4% in the first quarter. Robeco Institutional Asset Management B.V. now owns 1,020,560 shares of the oil and gas company’s stock valued at $94,679,000 after purchasing an additional 421,540 shares in the last quarter. 77.79% of the stock is owned by institutional investors.

Valero Energy Company Profile

Valero Energy Corporation operates as an independent petroleum refining and ethanol producing company. 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. It produces conventional and premium gasolines, gasoline meeting the specifications of the California Air Resources Board (CARB), diesel fuels, low-sulfur and ultra-low-sulfur diesel fuels, CARB diesel, other distillates, jet fuels, asphalts, petrochemicals, lubricants, and other refined petroleum products.

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

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