Scotiabank Comments on Valero Energy FY2024 Earnings

Valero Energy Co. (NYSE:VLO) – Equities researchers at Scotiabank issued their FY2024 earnings estimates for shares of Valero Energy in a report issued on Wednesday, January 8th. Scotiabank analyst P. Cheng forecasts 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.

Valero Energy (NYSE:VLO) last released its earnings results on Thursday, October 24th. The oil and gas company reported $1.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.16. The firm had revenue of $32.88 billion during 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 period last year, the business posted $7.49 earnings per share.

Other equities research analysts also recently issued reports about the stock. JPMorgan Chase & Co. dropped their price objective on shares of Valero Energy from $172.00 to $151.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 2nd. Piper Sandler lowered Valero Energy from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $169.00 to $123.00 in a report on Friday, September 20th. The Goldman Sachs Group decreased their price target on Valero Energy from $149.00 to $131.00 and set a “sell” rating for the company in a report on Monday, September 16th. Citigroup dropped their price objective on Valero Energy from $192.00 to $176.00 and set a “buy” rating on the stock in a report on Friday, October 25th. Finally, Mizuho lowered 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. One investment 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’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $154.57.

Valero Energy Stock Up 1.7 %

VLO stock opened at $127.27 on Monday. The company’s 50 day moving average price is $130.99 and its 200 day moving average price is $138.89. The firm has a market capitalization of $40.29 billion, a price-to-earnings ratio of 11.41, a PEG ratio of 2.43 and a beta of 1.42. Valero Energy has a fifty-two week low of $116.84 and a fifty-two week high of $184.79. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.11 and a current ratio of 1.57.

Valero Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 20th. Investors 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 dividend payout ratio is currently 38.39%.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Peterson Financial Group Inc. acquired a new stake in Valero Energy in the third quarter valued at about $28,000. Compagnie Lombard Odier SCmA acquired a new stake in shares of Valero Energy in the 3rd quarter valued at approximately $34,000. True Wealth Design LLC boosted its stake in shares of Valero Energy by 196.8% in the third quarter. True Wealth Design LLC now owns 276 shares of the oil and gas company’s stock valued at $37,000 after buying an additional 183 shares in the last quarter. Harbor Capital Advisors Inc. acquired a new position in Valero Energy during the third quarter worth $38,000. Finally, Ashton Thomas Securities LLC purchased a new position in Valero Energy in the third quarter worth $50,000. 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.