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Valero Misses EPS Estimates But Top Line Comes Through

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Uploaded on Jan 31, 2012

Valero (NYSE:VLO) reported a Q4 loss of $0.21 per share, missing consensus estimates by $0.58.

Revenues in the quarter rose 56.4% to $34.6 billion, beating estimates by $2.3 billion.

Valero Chairman and CEO Bill Klesse said, "Although the fourth quarter clearly showed the volatility of the refining business, 2011 was a great year for Valero. We had the highest annual earnings since 2008, acquired the Pembroke and Meraux refineries and related assets, completed several of our major capital projects, and paid off over $775 million in debt. We also increased our cash returned to shareholders by tripling the common stock dividend and conducting stock buybacks in the third and fourth quarters."

Valero Energy (NYSE:VLO) has potential upside of 18.7% based on a current price of $24.58 and an average consensus analyst price target of $29.17.

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