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

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

Valero Energy Trading Up 5.8 %

Shares of VLO traded up $8.58 during trading hours on Thursday, reaching $157.40. 2,568,111 shares of the company traded hands, compared to its average volume of 3,067,248. The stock’s fifty day moving average price is $153.77 and its 200 day moving average price is $152.76. The company has a current ratio of 1.59, a quick ratio of 1.10 and a debt-to-equity ratio of 0.35. The firm has a market cap of $51.47 billion, a price-to-earnings ratio of 7.37, a PEG ratio of 1.86 and a beta of 1.42. Valero Energy has a 12-month low of $119.88 and a 12-month high of $184.79.

Valero Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Thursday, August 1st will be given a dividend of $1.07 per share. The ex-dividend date is Thursday, August 1st. This represents a $4.28 annualized dividend and a dividend yield of 2.72%. Valero Energy’s dividend payout ratio (DPR) is 21.20%.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. Citigroup lifted their price target on shares of Valero Energy from $160.00 to $192.00 and gave the company a “buy” rating in a report on Thursday, April 18th. Piper Sandler decreased their target price on Valero Energy from $187.00 to $169.00 and set an “overweight” rating on the stock in a research report on Friday, June 14th. Wolfe Research assumed coverage on Valero Energy in a research report on Thursday, July 18th. They set an “outperform” rating and a $177.00 target price for the company. TD Cowen reduced their price target on shares of Valero Energy from $190.00 to $185.00 and set a “buy” rating on the stock in a research report on Monday, April 29th. Finally, Argus lowered shares of Valero Energy from a “buy” rating to a “hold” rating in a research report on Thursday, May 16th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $171.47.

Insider Activity at Valero Energy

In other Valero Energy news, Director Kimberly S. Greene sold 720 shares of the firm’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $158.12, for a total transaction of $113,846.40. Following the transaction, the director now directly owns 13,314 shares in the company, valued at approximately $2,105,209.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.04% of the stock is currently owned by company insiders.

Valero Energy Company Profile

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.