The Valero Energy Co. Expected to Post Q3 2016 Earnings of $0.90 Per Share (VLO)

The Valero Energy Co. Expected to Post Q3 2016 Earnings of $0.90 Per Share (VLO)

Valero Energy Co. (NYSE:VLO) – Stock analysts at Jefferies Group dropped their Q3 2016 earnings per share (EPS) estimates for shares of Valero Energy in a research note issued on Thursday. Jefferies Group analyst C. Goldman now expects that the brokerage will post earnings per share of $0.90 for the quarter, down from their previous forecast of $0.96. Jefferies Group currently has a “Buy” rating and a $66.00 price objective on the stock. Jefferies Group also issued estimates for Valero Energy’s FY2016 earnings at $3.49 EPS and FY2017 earnings at $5.43 EPS.

Several other research analysts have also recently weighed in on VLO. Wells Fargo & Co. reissued a “buy” rating on shares of Valero Energy in a research report on Saturday, July 9th. Vetr lowered shares of Valero Energy from a “strong-buy” rating to a “buy” rating and set a $60.89 price objective on the stock. in a report on Wednesday, August 3rd. Howard Weil reduced their price objective on shares of Valero Energy from $61.00 to $60.00 and set a “sector outperform” rating on the stock in a report on Wednesday, July 27th. Zacks Investment Research lowered shares of Valero Energy from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 12th. Finally, Credit Suisse Group AG restated a “hold” rating and issued a $62.00 price objective on shares of Valero Energy in a report on Thursday, July 14th. Nine investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $69.76.

Shares of Valero Energy (NYSE:VLO) opened at 53.79 on Friday. The company has a market capitalization of $24.82 billion, a PE ratio of 8.64 and a beta of 1.87. The stock has a 50 day moving average of $54.91 and a 200-day moving average of $55.10. Valero Energy has a 12-month low of $46.88 and a 12-month high of $73.88.

Valero Energy (NYSE:VLO) last released its quarterly earnings results on Tuesday, July 26th. The company reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates of $1.03 by $0.04. Valero Energy had a net margin of 3.89% and a return on equity of 14.05%. The business had revenue of $19.58 billion for the quarter, compared to analysts’ expectations of $16.79 billion. During the same period last year, the business earned $2.66 EPS. The company’s revenue was down 22.0% compared to the same quarter last year.

Several hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in Valero Energy by 1.8% in the second quarter. Vanguard Group Inc. now owns 32,767,093 shares of the company’s stock worth $1,671,122,000 after buying an additional 565,217 shares during the last quarter. State Street Corp raised its stake in Valero Energy by 0.7% in the second quarter. State Street Corp now owns 25,603,885 shares of the company’s stock worth $1,305,805,000 after buying an additional 172,622 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Valero Energy by 3.0% in the second quarter. Bank of New York Mellon Corp now owns 11,867,349 shares of the company’s stock worth $605,236,000 after buying an additional 351,131 shares during the last quarter. BlackRock Fund Advisors raised its stake in Valero Energy by 5.9% in the second quarter. BlackRock Fund Advisors now owns 7,604,021 shares of the company’s stock worth $387,805,000 after buying an additional 423,704 shares during the last quarter. Finally, LSV Asset Management raised its stake in Valero Energy by 1.9% in the second quarter. LSV Asset Management now owns 7,433,137 shares of the company’s stock worth $379,089,000 after buying an additional 138,272 shares during the last quarter. Hedge funds and other institutional investors own 78.49% of the company’s stock.

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