Valero to Import 6.5 Million Barrels of Venezuelan Crude, Q4 EPS Beats Estimates
Valero will import 6.5 million barrels of Venezuelan crude in March for Gulf Coast processing. In Q4 2025, it posted EPS of $3.82 on $30.4 billion revenue, operating income rose to $1.7 billion, ended with $4.7 billion cash, returned $4 billion to shareholders, and saw its price target raised to $212.
1. Venezuelan Crude Import Plan
Valero plans to import up to 6.5 million barrels of crude oil from Venezuela in March, processing the shipments at its Gulf Coast refineries to bolster throughput volumes and optimize refinery utilization.
2. Q4 2025 Financial Results
In the fourth quarter of 2025, Valero delivered earnings per share of $3.82 versus $3.11 expected and generated $30.4 billion in revenue against a $29 billion forecast, while refining operating income surged to $1.7 billion from $437 million a year earlier.
3. Cash Position and Shareholder Returns
The company concluded 2025 with $4.7 billion in cash and cash equivalents and returned $1.4 billion to shareholders in Q4, bringing full-year 2025 distributions to $4 billion through dividends and share repurchases.
4. Analyst Price Target Revision
Following the strong quarterly performance and import strategy, Citi increased its Valero price target to $212 from $190 while maintaining a Neutral rating, reflecting improved earnings momentum and strategic crude sourcing.