Valero Energy (VLO) Issues Quarterly Earnings Results

Valero Energy (NYSE:VLO) issued its quarterly earnings results on Thursday. The oil and gas company reported $1.00 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.93 by $0.07, Bloomberg Earnings reports. Valero Energy had a return on equity of 10.30% and a net margin of 4.33%. The firm had revenue of $264.90 million during the quarter, compared to analyst estimates of $23.35 billion. During the same quarter in the previous year, the company posted $0.68 earnings per share. The company’s revenue was down 98.8% compared to the same quarter last year.

Shares of VLO traded up $2.86 during trading hours on Thursday, hitting $111.54. The company had a trading volume of 4,864,282 shares, compared to its average volume of 3,452,677. The company has a market cap of $46,908.63, a P/E ratio of 22.33, a P/E/G ratio of 1.15 and a beta of 1.02. The company has a current ratio of 1.74, a quick ratio of 1.17 and a debt-to-equity ratio of 0.38. Valero Energy has a 52-week low of $60.69 and a 52-week high of $111.82.

Several equities research analysts have issued reports on the company. Cowen lifted their price target on Valero Energy from $100.00 to $125.00 and gave the stock an “outperform” rating in a research note on Thursday. Piper Jaffray reaffirmed a “hold” rating and set a $113.00 price target on shares of Valero Energy in a research note on Tuesday. Morgan Stanley lifted their price target on Valero Energy from $100.00 to $110.00 and gave the stock an “equal weight” rating in a research note on Monday, April 16th. Scotiabank reaffirmed a “sector perform” rating on shares of Valero Energy in a research note on Thursday, April 12th. Finally, Scotia Howard Weill reaffirmed a “sector perform” rating on shares of Valero Energy in a research note on Wednesday, April 11th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and eight have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $98.29.

Valero Energy declared that its board has approved a stock buyback program on Tuesday, January 23rd that authorizes the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization authorizes the oil and gas company to buy shares of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

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.

Earnings History for Valero Energy (NYSE:VLO)

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