Scotiabank Forecasts Valero Energy FY2024 Earnings

Valero Energy Co. (NYSE:VLO) – Analysts at Scotiabank issued their FY2024 earnings per share (EPS) estimates for shares of Valero Energy in a research note issued to investors on Wednesday, January 8th. Scotiabank analyst P. Cheng expects that the oil and gas company will earn $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.

A number of other analysts also recently issued reports on the company. Citigroup reduced their price objective on Valero Energy from $192.00 to $176.00 and set a “buy” rating on the stock in a research note on Friday, October 25th. Piper Sandler downgraded shares of Valero Energy from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $169.00 to $123.00 in a research note on Friday, September 20th. Bank of America assumed coverage on shares of Valero Energy in a research note on Thursday, October 17th. They issued a “neutral” rating and a $150.00 price objective for the company. The Goldman Sachs Group decreased their target price on shares of Valero Energy from $149.00 to $131.00 and set a “sell” rating on the stock in a research report on Monday, September 16th. Finally, TD Cowen dropped their price target on Valero Energy from $145.00 to $140.00 and set a “buy” rating for the company in a research report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Valero Energy has an average rating of “Moderate Buy” and a consensus target price of $154.57.

Valero Energy Trading Up 5.0 %

Shares of VLO stock opened at $133.49 on Monday. The company has a current ratio of 1.57, a quick ratio of 1.11 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $42.26 billion, a price-to-earnings ratio of 11.97, a price-to-earnings-growth ratio of 2.43 and a beta of 1.42. Valero Energy has a 12-month low of $116.84 and a 12-month high of $184.79. The stock’s 50-day moving average price is $131.06 and its 200-day moving average price is $138.75.

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

Valero Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Wednesday, November 20th were given a dividend of $1.07 per share. The ex-dividend date of this dividend was Wednesday, November 20th. This represents a $4.28 annualized dividend and a dividend yield of 3.21%. Valero Energy’s dividend payout ratio (DPR) is 38.39%.

Hedge Funds Weigh In On Valero Energy

A number of hedge funds have recently added to or reduced their stakes in VLO. Wellington Management Group LLP lifted its stake in Valero Energy by 4,908.0% in the third quarter. Wellington Management Group LLP now owns 2,850,526 shares of the oil and gas company’s stock worth $384,907,000 after acquiring an additional 2,793,607 shares during the period. International Assets Investment Management LLC boosted its stake in shares of Valero Energy by 11,318.9% during the third quarter. International Assets Investment Management LLC now owns 1,076,349 shares of the oil and gas company’s stock valued at $145,339,000 after purchasing an additional 1,066,923 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its stake in Valero Energy by 900.2% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 631,095 shares of the oil and gas company’s stock worth $85,217,000 after buying an additional 568,000 shares in the last quarter. Pacer Advisors Inc. lifted its holdings in Valero Energy by 18.8% during the third quarter. Pacer Advisors Inc. now owns 3,585,166 shares of the oil and gas company’s stock worth $484,105,000 after buying an additional 567,059 shares during the period. Finally, Worldquant Millennium Advisors LLC bought a new stake in Valero Energy during the 3rd quarter valued at $70,352,000. 78.69% of the stock is currently owned by institutional investors.

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.