Valero Energy Corporation (NYSE:VLO) is reporting third quarter financial results on Thursday 22nd October 2020, before market open.
According to analysts surveyed by Thomson Reuters, VLO is expected to report 3Q20 loss of $ 1.37 per share from revenue of $ 16549.10 million.
For the full year, analysts anticipate top line of $ 67523.00 million, while looking forward to loss of $ 3.03 per share bottom line.
Previous Quarter Performance
Valero Energy Corporation revealed loss for the second quarter of $ 1.25 per share, from the revenue of $ 10,397.00 million. The quarterly revenues declined 64.07 percent compared with the same quarter last year. Wall street analysts are predicting, VLO to report 2Q20 loss of $ 1.41 per share from revenue of $ 15940.50 million. The bottom line results beat street analysts by $ 0.16 or 11.35 percent, at the same time, top line results fell short of analysts by $ 5 million or 34.78 percent.
Stock Performance
Shares of Valero Energy Corporation traded up $ 0.20 or 0.49 percent on Wednesday, reaching $ 40.90 with volume of 3.33 million shares. The stock opened down for the day at $ 40.27, after closing the previous day trading at $ 40.70.
According to the previous trading day, closing price of $ 40.70, representing a 31.29 % increase from the 52 week low of $ 31.00 and a 60.09 % decrease over the 52 week high of $ 101.99.
The company has a market capital of $ 16.68 billion and is part of the Energy sector and Oil & Gas Refining & Marketing industry.
Recent Analyst recommendations
- On 19th October 2020, maintained by Morgan Stanley at Equal-Weight rating, with $ 50.00 target price.
- On 6th October 2020, maintained by Barclays at Overweight rating, with $ 62.00 target price.
- On 1st October 2020, downgraded by Goldman Sachs Group to Sell from Neutral rating, with $ 37.00 target price.
- On 18th September 2020, maintained by Raymond James at Outperform rating, with $ 60.00 target price.
- On 9th September 2020, maintained by Piper Sandler at Overweight rating, with $ 78.00 target price.
Recent Stock Dividend Announcement
On July 16, 2020, the board of directors authorized quarterly dividend of $ 0.98 per share to holders of record as of the close of business on August 4, 2020, with payment date of September 2, 2020 and ex-dividend date on August 3, 2020.
Conference Call
Valero Energy Corporation will be hosting a conference call at 10:00 AM eastern time on 22nd October 2020, to discuss its 3Q20 financial results with the investment community. A live webcast with presentations will be available on the Internet by visiting the Company website www.valero.com
Valero Energy Corporation operates as an independent petroleum refining and ethanol producing company in the United States, Canada, the United Kingdom, Ireland, and internationally. It operates through three segments: Refining, Ethanol, and VLP (Valero Energy Partners LP). The company is involved in oil and gas refining, marketing, and bulk selling activities.
