Q3 2016 EPS Estimates for Valero Energy Corp. (VLO) Reduced by Jefferies Group

Valero Energy Corp. (NYSE:VLO) – Jefferies Group reduced their Q3 2016 earnings estimates for Valero Energy Corp. in a research report issued to clients and investors on Thursday. Jefferies Group analyst C. Goldman now expects that the firm will earn $0.90 per share for the quarter, down from their previous forecast of $0.96. Jefferies Group has a “Buy” rating and a $66.00 price target on the stock. Jefferies Group also issued estimates for Valero Energy Corp.’s FY2016 earnings at $3.49 EPS and FY2017 earnings at $5.43 EPS.

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

Earnings History and Estimates for Valero Energy Corp. (NYSE:VLO)

Other analysts also recently issued research reports about the company. Wells Fargo & Co. restated a “buy” rating on shares of Valero Energy Corp. in a research note on Saturday, July 9th. Howard Weil lowered their target price on Valero Energy Corp. from $61.00 to $60.00 and set a “sector outperform” rating on the stock in a research note on Wednesday, July 27th. Zacks Investment Research downgraded Valero Energy Corp. from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 12th. Barclays PLC restated an “overweight” rating and issued a $73.00 target price on shares of Valero Energy Corp. in a research note on Thursday, July 28th. Finally, Scotiabank restated a “sector outperform” rating and issued a $60.00 target price (down previously from $61.00) on shares of Valero Energy Corp. in a research note on Wednesday, July 27th. Nine equities research 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 company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $69.76.

Shares of Valero Energy Corp. (NYSE:VLO) opened at 53.79 on Friday. The firm has a 50-day moving average price of $54.91 and a 200-day moving average price of $55.10. The company has a market cap of $24.82 billion, a P/E ratio of 8.64 and a beta of 1.87. Valero Energy Corp. has a 1-year low of $46.88 and a 1-year high of $73.88.

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

About Valero Energy Corp.

Valero Energy Corporation (Valero), through Valero Energy Partners LP (VLP), owns, operates, develops and acquires crude oil and refined petroleum products pipelines, terminals, and other transportation and logistics assets. The Company operates in two segments: refining and ethanol. Its refining segment includes refining and marketing operations in the United States, Canada, the United Kingdom, Aruba and Ireland.

5 Day Chart for NYSE:VLO

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