Brokers Offer Predictions for Valero Energy FY2024 Earnings

Valero Energy Co. (NYSE:VLO) – Analysts at Zacks Research cut their FY2024 earnings per share estimates for Valero Energy in a note issued to investors on Tuesday, November 26th. Zacks Research analyst R. Department now anticipates that the oil and gas company will post earnings of $9.02 per share for the year, down from their previous estimate of $9.03. The consensus estimate for Valero Energy’s current full-year earnings is $8.92 per share. Zacks Research also issued estimates for Valero Energy’s Q4 2024 earnings at $1.35 EPS, Q4 2025 earnings at $1.86 EPS, FY2025 earnings at $7.96 EPS, Q1 2026 earnings at $3.55 EPS, Q3 2026 earnings at $1.92 EPS and FY2026 earnings at $10.58 EPS.

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

Several other research analysts also recently commented on VLO. Wells Fargo & Company upgraded shares of Valero Energy from an “equal weight” rating to an “overweight” rating and lowered their price objective for the company from $172.00 to $165.00 in a research report on Wednesday, October 9th. Citigroup lowered their price target on Valero Energy from $192.00 to $176.00 and set a “buy” rating for the company in a report on Friday, October 25th. Mizuho reduced their price objective on Valero Energy from $175.00 to $171.00 and set an “outperform” rating on the stock in a research note on Monday, September 16th. Bank of America started coverage on Valero Energy in a research note on Thursday, October 17th. They set a “neutral” rating and a $150.00 target price for the company. Finally, The Goldman Sachs Group reduced their price target on shares of Valero Energy from $149.00 to $131.00 and set a “sell” rating on the stock in a research note on Monday, September 16th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Valero Energy currently has an average rating of “Moderate Buy” and an average target price of $155.86.

Valero Energy Price Performance

VLO stock opened at $139.02 on Thursday. The company’s 50-day moving average price is $136.92 and its two-hundred day moving average price is $145.35. Valero Energy has a 12 month low of $120.21 and a 12 month high of $184.79. The company has a quick ratio of 1.11, a current ratio of 1.57 and a debt-to-equity ratio of 0.35. The firm has a market cap of $44.01 billion, a P/E ratio of 12.47, a P/E/G ratio of 2.59 and a beta of 1.39.

Valero Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Wednesday, November 20th will be issued a $1.07 dividend. The ex-dividend date is Wednesday, November 20th. This represents a $4.28 dividend on an annualized basis and a yield of 3.08%. Valero Energy’s payout ratio is 38.39%.

Hedge Funds Weigh In On Valero Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Franklin Resources Inc. lifted its position in shares of Valero Energy by 5.6% in the 3rd quarter. Franklin Resources Inc. now owns 4,687,585 shares of the oil and gas company’s stock worth $639,268,000 after purchasing an additional 247,630 shares during the period. Synovus Financial Corp lifted its holdings in Valero Energy by 43.6% in the third quarter. Synovus Financial Corp now owns 20,642 shares of the oil and gas company’s stock valued at $2,787,000 after buying an additional 6,272 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in Valero Energy during the third quarter valued at $342,000. Arvest Bank Trust Division acquired a new stake in Valero Energy during the 3rd quarter worth about $7,609,000. Finally, World Investment Advisors LLC raised its position in shares of Valero Energy by 34.7% in the 3rd quarter. World Investment Advisors LLC now owns 4,245 shares of the oil and gas company’s stock worth $573,000 after acquiring an additional 1,093 shares in the last quarter. 78.69% of the stock is owned by institutional investors and hedge funds.

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.