Valero Energy Co. to Post Q1 2024 Earnings of $3.08 Per Share, Zacks Research Forecasts (NYSE:VLO)

Valero Energy Co. (NYSE:VLO) – Analysts at Zacks Research upped their Q1 2024 EPS estimates for shares of Valero Energy in a research note issued to investors on Monday, April 22nd. Zacks Research analyst R. Department now anticipates that the oil and gas company will post earnings per share of $3.08 for the quarter, up from their prior forecast of $3.05. The consensus estimate for Valero Energy’s current full-year earnings is $18.25 per share. Zacks Research also issued estimates for Valero Energy’s Q2 2024 earnings at $5.06 EPS, Q3 2024 earnings at $4.86 EPS, Q4 2024 earnings at $3.15 EPS, FY2024 earnings at $16.15 EPS, Q1 2025 earnings at $3.56 EPS, Q2 2025 earnings at $3.67 EPS, Q3 2025 earnings at $3.47 EPS, Q4 2025 earnings at $2.17 EPS, FY2025 earnings at $12.87 EPS, Q1 2026 earnings at $2.80 EPS and FY2026 earnings at $11.21 EPS.

A number of other equities research analysts also recently issued reports on the company. Mizuho downgraded Valero Energy from a “buy” rating to a “neutral” rating and boosted their price target for the company from $150.00 to $173.00 in a research note on Friday, March 22nd. Scotiabank raised their target price on Valero Energy from $138.00 to $165.00 and gave the stock a “sector outperform” rating in a report on Thursday, April 11th. UBS Group boosted their price objective on Valero Energy from $167.00 to $197.00 and gave the company a “buy” rating in a research report on Tuesday, March 26th. The Goldman Sachs Group increased their price target on Valero Energy from $130.00 to $171.00 and gave the company a “sell” rating in a research note on Friday, March 22nd. Finally, JPMorgan Chase & Co. lifted their target price on Valero Energy from $177.00 to $178.00 and gave the stock an “overweight” rating in a report on Monday, April 1st. One investment analyst has rated the stock with a sell rating, three have given a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Valero Energy has an average rating of “Moderate Buy” and an average price target of $173.63.

Valero Energy Stock Performance

Shares of VLO opened at $165.94 on Tuesday. The firm has a market capitalization of $55.17 billion, a P/E ratio of 6.71, a PEG ratio of 1.50 and a beta of 1.54. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.56 and a quick ratio of 1.11. Valero Energy has a one year low of $104.18 and a one year high of $184.79. The business has a fifty day moving average of $159.00 and a 200 day moving average of $139.68.

Valero Energy (NYSE:VLO) last issued its quarterly earnings data on Thursday, January 25th. The oil and gas company reported $3.55 earnings per share for the quarter, beating analysts’ consensus estimates of $2.95 by $0.60. The company had revenue of $35.41 billion for the quarter, compared to the consensus estimate of $34.76 billion. Valero Energy had a net margin of 6.10% and a return on equity of 31.62%. The firm’s revenue for the quarter was down 15.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $8.45 earnings per share.

Hedge Funds Weigh In On Valero Energy

A number of hedge funds have recently made changes to their positions in VLO. Paradiem LLC boosted its holdings in Valero Energy by 11.1% during the 1st quarter. Paradiem LLC now owns 62,653 shares of the oil and gas company’s stock valued at $10,694,000 after acquiring an additional 6,274 shares during the period. Bristlecone Advisors LLC grew its position in shares of Valero Energy by 2.1% in the 1st quarter. Bristlecone Advisors LLC now owns 17,388 shares of the oil and gas company’s stock valued at $2,968,000 after buying an additional 365 shares during the last quarter. Strategic Financial Concepts LLC increased its position in Valero Energy by 40.2% during the first quarter. Strategic Financial Concepts LLC now owns 2,796 shares of the oil and gas company’s stock worth $477,000 after buying an additional 802 shares during the period. Rovin Capital UT ADV lifted its stake in Valero Energy by 3.5% in the first quarter. Rovin Capital UT ADV now owns 1,968 shares of the oil and gas company’s stock valued at $336,000 after buying an additional 67 shares during the last quarter. Finally, Nilsine Partners LLC increased its holdings in shares of Valero Energy by 5.3% in the 1st quarter. Nilsine Partners LLC now owns 2,163 shares of the oil and gas company’s stock valued at $369,000 after acquiring an additional 108 shares during the period. Hedge funds and other institutional investors 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.