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Valero Energy (VLO) Stock Jumps 7.8%: Will It Continue to Soar?
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Valero Energy (VLO - Free Report) shares rallied 7.8% in the last trading session to close at $90.54. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 6.3% loss over the past four weeks.
Increasing demand for gasoline and low-sulphur diesel is backing the company’s businesses related to ethanol and renewable diesel. The fact that Valero Energy’s dividend yield is higher than the yield of the composite stocks belonging to the industry is also aiding the stock.
This oil refiner is expected to post quarterly earnings of $1.50 per share in its upcoming report, which represents a year-over-year change of +186.7%. Revenues are expected to be $27.85 billion, up 33.9% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Valero Energy, the consensus EPS estimate for the quarter has been revised 4.6% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on VLO going forward to see if this recent jump can turn into more strength down the road.
Valero Energy is a member of the Zacks Oil and Gas - Refining and Marketing industry. One other stock in the same industry, Phillips 66 (PSX - Free Report) , finished the last trading session 2.1% higher at $84.31. PSX has returned -8.5% over the past month.
Phillips 66's consensus EPS estimate for the upcoming report has changed +3.2% over the past month to $1.91. Compared to the company's year-ago EPS, this represents a change of +264.7%. Phillips 66 currently boasts a Zacks Rank of #3 (Hold).
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Valero Energy (VLO) Stock Jumps 7.8%: Will It Continue to Soar?
Valero Energy (VLO - Free Report) shares rallied 7.8% in the last trading session to close at $90.54. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 6.3% loss over the past four weeks.
Increasing demand for gasoline and low-sulphur diesel is backing the company’s businesses related to ethanol and renewable diesel. The fact that Valero Energy’s dividend yield is higher than the yield of the composite stocks belonging to the industry is also aiding the stock.
This oil refiner is expected to post quarterly earnings of $1.50 per share in its upcoming report, which represents a year-over-year change of +186.7%. Revenues are expected to be $27.85 billion, up 33.9% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Valero Energy, the consensus EPS estimate for the quarter has been revised 4.6% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on VLO going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Valero Energy is a member of the Zacks Oil and Gas - Refining and Marketing industry. One other stock in the same industry, Phillips 66 (PSX - Free Report) , finished the last trading session 2.1% higher at $84.31. PSX has returned -8.5% over the past month.
Phillips 66's consensus EPS estimate for the upcoming report has changed +3.2% over the past month to $1.91. Compared to the company's year-ago EPS, this represents a change of +264.7%. Phillips 66 currently boasts a Zacks Rank of #3 (Hold).