Valero Energy Corp. on Thursday reported a second-quarter net income of $162 million. On a per-share basis, the San Antonio-based company said it had a profit of 39 cents. Earnings, adjusted for non-recurring costs, were 48 cents per share.
The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 15 cents per share. The oil refiner posted revenue of $27.75 billion in the period.
Valero Energy Corp shares have climbed 19% since the beginning of the year, while the S&P’s 500 indexes have increased 17%. The stock has climbed 18% in the last 12 months. Shares of the company inched 0.06% higher to $65.58 Tuesday. This proved to be an all-around dismal trading session for the stock market, with the S&P 500 Index SPX falling 0.47% to 4,401.46 and Dow Jones Industrial Average DJIA falling 0.24% to 35,058.52.
Valero Energy Corp. closed $19.37 below its 52-week high ($84.95), which the company reached on June 3rd. This was the stock’s third consecutive day of gains. The stock demonstrated a mixed performance when compared to some of its competitors Tuesday, as Phillips 66 PSX rose 0.30% to $74.54, Marathon Petroleum Corp. MPC fell 0.59% to $54.34, and HollyFrontier Corp. HFC rose 0.31% to $29.12.Trading volume (4.8 M) eclipsed its 50-day average volume of 4.1 M. Valero Energy Corp, through its subsidiaries, is an international manufacturer and marketer of transportation fuels and petrochemical products.
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