Scotiabank Weighs in on Valero Energy FY2024 Earnings

Valero Energy Co. (NYSE:VLO) – Equities research analysts at Scotiabank issued their FY2024 earnings per share (EPS) estimates for shares of Valero Energy in a report released on Wednesday, January 8th. Scotiabank analyst P. Cheng expects that the oil and gas company will post earnings of $8.65 per share for the year. Scotiabank currently has a “Sector Outperform” rating and a $141.00 target price 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 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 for the quarter, compared to analyst estimates of $31.04 billion. Valero Energy had a return on equity of 13.07% and a net margin of 2.74%. Valero Energy’s revenue was down 14.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $7.49 earnings per share.

VLO has been the subject of a number of other reports. Piper Sandler cut shares of Valero Energy from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $169.00 to $123.00 in a research note on Friday, September 20th. Mizuho cut their price target on Valero Energy from $165.00 to $158.00 and set an “outperform” rating for the company in a report on Wednesday, January 8th. Bank of America initiated coverage on Valero Energy in a research report on Thursday, October 17th. They issued a “neutral” rating and a $150.00 price objective on the stock. Citigroup cut their target price on shares of Valero Energy from $192.00 to $176.00 and set a “buy” rating for the company in a research note on Friday, October 25th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Valero Energy from $172.00 to $151.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, four have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $154.57.

Valero Energy Stock Performance

NYSE:VLO opened at $127.27 on Monday. Valero Energy has a twelve month low of $116.84 and a twelve month high of $184.79. The company has a market capitalization of $40.29 billion, a P/E ratio of 11.41, a price-to-earnings-growth ratio of 2.43 and a beta of 1.42. 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 firm has a 50-day moving average price of $130.99 and a two-hundred day moving average price of $138.89.

Valero Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Wednesday, November 20th were issued a dividend of $1.07 per share. This represents a $4.28 dividend on an annualized basis and a dividend yield of 3.36%. The ex-dividend date was Wednesday, November 20th. Valero Energy’s payout ratio is currently 38.39%.

Institutional Investors Weigh In On Valero Energy

Large investors have recently made changes to their positions in the business. Main Street Financial Solutions LLC boosted its holdings in Valero Energy by 5.7% in the 2nd quarter. Main Street Financial Solutions LLC now owns 1,356 shares of the oil and gas company’s stock worth $213,000 after acquiring an additional 73 shares during the period. HBK Sorce Advisory LLC boosted its stake in shares of Valero Energy by 17.4% in the second quarter. HBK Sorce Advisory LLC now owns 2,867 shares of the oil and gas company’s stock valued at $449,000 after purchasing an additional 424 shares during the period. 1ST Source Bank grew its holdings in Valero Energy by 55.6% during the 2nd quarter. 1ST Source Bank now owns 4,151 shares of the oil and gas company’s stock valued at $651,000 after purchasing an additional 1,483 shares in the last quarter. Parallel Advisors LLC lifted its holdings in Valero Energy by 5.7% in the 2nd quarter. Parallel Advisors LLC now owns 3,786 shares of the oil and gas company’s stock worth $594,000 after buying an additional 203 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. boosted its position in Valero Energy by 1,795.6% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 25,193 shares of the oil and gas company’s stock valued at $3,949,000 after buying an additional 23,864 shares during the last quarter. Institutional investors and hedge funds own 78.69% of the company’s stock.

About Valero Energy

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.