Valero Energy (NYSE:VLO) Posts Quarterly Earnings Results, Beats Expectations By $0.11 EPS

Valero Energy (NYSE:VLO) released its quarterly earnings data on Thursday. The oil and gas company reported $2.71 EPS for the quarter, beating the consensus estimate of $2.60 by $0.11, RTT News reports. The business had revenue of $34.49 billion for the quarter, compared to the consensus estimate of $32.97 billion. Valero Energy had a net margin of 5.01% and a return on equity of 24.82%. The business’s revenue for the quarter was down .1% on a year-over-year basis. During the same period in the prior year, the firm earned $5.40 EPS.

Valero Energy Price Performance

Shares of NYSE VLO traded up $7.83 during mid-day trading on Thursday, reaching $156.65. The company’s stock had a trading volume of 2,208,056 shares, compared to its average volume of 3,064,712. The stock has a 50-day moving average of $153.77 and a two-hundred day moving average of $152.76. The stock has a market capitalization of $51.22 billion, a P/E ratio of 7.37, a P/E/G ratio of 1.86 and a beta of 1.42. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.10 and a current ratio of 1.59. Valero Energy has a 1-year low of $119.88 and a 1-year high of $184.79.

Valero Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Thursday, August 1st will be given a dividend of $1.07 per share. This represents a $4.28 dividend on an annualized basis and a yield of 2.73%. The ex-dividend date is Thursday, August 1st. Valero Energy’s dividend payout ratio is presently 21.20%.

Insider Activity

In other news, Director Kimberly S. Greene sold 720 shares of the stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $158.12, for a total value of $113,846.40. Following the completion of the sale, the director now directly owns 13,314 shares in the company, valued at $2,105,209.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.04% of the company’s stock.

Analysts Set New Price Targets

VLO has been the topic of several recent research reports. Wolfe Research initiated coverage on shares of Valero Energy in a report on Thursday, July 18th. They issued an “outperform” rating and a $177.00 price objective on the stock. Piper Sandler dropped their price objective on shares of Valero Energy from $187.00 to $169.00 and set an “overweight” rating on the stock in a report on Friday, June 14th. Barclays lowered their price target on shares of Valero Energy from $171.00 to $165.00 and set an “overweight” rating on the stock in a report on Tuesday, July 9th. StockNews.com downgraded shares of Valero Energy from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th. Finally, Mizuho raised shares of Valero Energy from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $165.00 to $175.00 in a report on Wednesday, July 17th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Valero Energy has an average rating of “Moderate Buy” and a consensus target price of $171.47.

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.