Valero Energy Stock Price, News & Analysis

Valero Energy Corporation (NYSE: VLO) announced a conference call scheduled for April 26, 2022, at 10:00 a.m. ET. This call will discuss the company's first quarter 2022 earnings results, which will also be released earlier that day. Valero operates 15 petroleum refineries with a combined throughput capacity of approximately 3.2 million barrels per day and is involved in renewable diesel through its joint venture in Diamond Green Diesel Holdings LLC.

Valero Energy Corporation (NYSE: VLO) announced its participation in the Piper Sandler and Scotia Howard Weil Energy Conferences in March. The company is a leading manufacturer and marketer of petroleum-based and low-carbon fuels and petrochemical products, operating 15 refineries with a throughput capacity of about 3.2 million barrels per day. Valero also runs 12 ethanol plants with a combined production capacity of approximately 1.6 billion gallons per year and is involved in renewable diesel through a joint venture, contributing to its diverse energy portfolio.

Valero Energy Corporation (NYSE: VLO) announced a significant reduction in its long-term debt by approximately $750 million in February, facilitated through a debt reduction and refinancing strategy. This involved issuing $650 million in Senior Notes due 2052 and using proceeds and cash to repurchase about $1.4 billion of its senior notes. To date, these moves have collectively cut Valero's long-term debt by roughly $2.0 billion, enhancing its financial position.

Valero Energy Corporation (NYSE: VLO) has announced cash tender offers for its outstanding senior notes, including those due in 2025, 2026, and 2028. The tender offers aim to purchase notes totaling up to $579,319,000. As of the Early Tender Date, validly tendered notes exceeded this amount, leading Valero to limit acceptance based on priority levels. The Total Consideration for tendered notes will be calculated based on U.S. Treasury yields and includes an Early Tender Payment. The offers will expire on March 2, 2022.

Valero Energy Corporation (NYSE: VLO) has reported early tender results for its cash tender offers to purchase various senior notes, including the 3.650% and 2.850% notes due in 2025, among others. The maximum aggregate principal amount for the 2025 notes has been increased from $500 million to $579.32 million. The aggregate purchase price for the tender offers is now expected to cover all validly tendered 3.400% 2026 notes, with over $1 billion total principal amount tendered. Notably, Valero anticipates that not all tendered notes will be accepted.

Valero Energy Corporation (NYSE: VLO) has priced a public offering of $650,000,000 aggregate principal amount of 4.000% Senior Notes due 2052. The offering is expected to close on February 7, 2022, pending customary closing conditions. Valero plans to use the net proceeds from this offering to finance cash tender offers to repurchase several outstanding Senior Notes and for general corporate purposes. J.P. Morgan Securities LLC, BofA Securities, Inc., Scotia Capital (USA) Inc., and Wells Fargo Securities, LLC acted as joint book-running managers for the offering.

Valero Energy Corporation (NYSE: VLO) has initiated tender offers to purchase up to $1,000,000,000 in cash for various outstanding Senior Notes, including those due in 2025, 2026, 2027, and 2028. The tender offers are set to expire at midnight on March 2, 2022, with an early tender date of February 15, 2022. Notably, the offers are subject to acceptance priority levels and a Series Tender Cap of $500,000,000 for certain notes. Valero’s commitment to this tender is contingent upon meeting specific conditions outlined in the Offer to Purchase.

Valero reported a strong performance for Q4 2021, with net income of $1,009 million ($2.46/share), compared to a net loss of $359 million in Q4 2020. Adjusted net income for the year reached $1,152 million, showcasing notable recovery from a loss of $1,421 million in 2020. Valero returned $401 million to shareholders through dividends in Q4 and $1.6 billion for the year. The company reduced its long-term debt by $693 million in Q4 and $1.3 billion for 2021. Valero's refining segment achieved $1.3 billion in Q4 operating income, and their renewable diesel segment saw a rise in sales volumes.

Valero Energy Corporation (NYSE: VLO) has announced a quarterly cash dividend of $0.98 per share, payable on March 3, 2022, to stockholders of record as of February 3, 2022. As a leading manufacturer and marketer of transportation fuels and petroleum products, Valero operates 15 refineries with a throughput capacity of approximately 3.2 million barrels per day and 12 ethanol plants producing about 1.6 billion gallons annually. The company is committed to sustaining its dividend amid its operational expansion.