The oil refining and marketing business Valero Energy Corporation (NYSE: VLO) has an earnings surprise on June 24. An earnings surprise is defined as the difference between a company’s expected earnings (as per Wall Street analysts) and the numbers actually reported.
For the first fiscal period, which ended March 31 of this year, the earnings surprise calculation for Valero Energy was 7.47% by its end. It had reported earnings of $1.87 per share. The reported number was $0.13 away from the estimates of Wall Street analysts. The surprising number is much higher now, in the most recent quarter.
The latest reports, as noted June 24, is that for the last quarter the surprise factor is up by 35.011%. That makes for a surprise price per share dollar at $5,531.397. The next quarter numbers for Valero Energy will release on July 30. Sell-side firms predict that the business’s earnings will be $1.84 per share. That estimate is as per a recent Zacks Research poll. Those same analysts also expect that the stock price will rise to the $63-$90 range. The average of that number called the consensus price target, will be $71.6.
A surprise of another nature came this week too. It was when Valero Energy Corp.’s director Stephen Waters sold 5,000 shares of the company stock. That transaction earned him over $300,000.
The stock sale was disclosed on June 24, although it originally happened last week on June 19. The transaction earned Waters $302,350. The stock Valero (NYSE: VLO) was valued at $812,837. The average stock sale price was $60.47.
Despite the big sale of stock, the price per Valero Energy stock remains high, as explained in the earlier section above on the earnings surprise factor. Valero is based in San Antonio. Stephen Waters is a director at another company too called Boston Private Financial Holdings Inc.