Zacks Research cut shares of Valero Energy (NYSE:VLO – Free Report) from a strong-buy rating to a hold rating in a research note released on Monday morning,Zacks.com reports.
Other equities research analysts have also recently issued research reports about the company. Wolfe Research restated an “underperform” rating and set a $203.00 price objective on shares of Valero Energy in a report on Tuesday, April 21st. Raymond James Financial increased their target price on Valero Energy from $215.00 to $290.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, March 25th. Citigroup raised their price target on Valero Energy from $246.00 to $259.00 and gave the stock a “neutral” rating in a research note on Friday, May 1st. BMO Capital Markets lifted their price target on Valero Energy from $230.00 to $270.00 and gave the company an “outperform” rating in a report on Monday, April 6th. Finally, Piper Sandler upped their price objective on shares of Valero Energy from $236.00 to $263.00 and gave the company an “overweight” rating in a research note on Wednesday, April 8th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $245.59.
Read Our Latest Stock Report on VLO
Valero Energy Stock Performance
Valero Energy (NYSE:VLO – Get Free Report) last announced its earnings results on Thursday, April 30th. The oil and gas company reported $4.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.16 by $1.06. The firm had revenue of $32.38 billion for the quarter, compared to analyst estimates of $31.38 billion. Valero Energy had a net margin of 3.37% and a return on equity of 15.94%. Valero Energy’s revenue was up 7.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.89 earnings per share. On average, sell-side analysts predict that Valero Energy will post 27.45 EPS for the current year.
Valero Energy Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 23rd. Stockholders of record on Thursday, May 21st were issued a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date was Thursday, May 21st. Valero Energy’s dividend payout ratio is presently 34.88%.
Insider Buying and Selling at Valero Energy
In related news, SVP Eric A. Fisher sold 7,500 shares of the stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $236.90, for a total value of $1,776,750.00. Following the transaction, the senior vice president directly owned 27,242 shares of the company’s stock, valued at approximately $6,453,629.80. This trade represents a 21.59% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.36% of the company’s stock.
Institutional Investors Weigh In On Valero Energy
A number of institutional investors have recently added to or reduced their stakes in VLO. V Square Quantitative Management LLC boosted its stake in Valero Energy by 0.6% during the first quarter. V Square Quantitative Management LLC now owns 6,670 shares of the oil and gas company’s stock worth $1,648,000 after buying an additional 42 shares in the last quarter. CYBER HORNET ETFs LLC raised its position in Valero Energy by 5.5% in the fourth quarter. CYBER HORNET ETFs LLC now owns 975 shares of the oil and gas company’s stock worth $159,000 after purchasing an additional 51 shares in the last quarter. Bruce G. Allen Investments LLC raised its position in Valero Energy by 32.9% in the fourth quarter. Bruce G. Allen Investments LLC now owns 206 shares of the oil and gas company’s stock worth $34,000 after purchasing an additional 51 shares in the last quarter. Providence Wealth Advisors LLC lifted its stake in Valero Energy by 0.5% during the fourth quarter. Providence Wealth Advisors LLC now owns 9,610 shares of the oil and gas company’s stock worth $1,564,000 after purchasing an additional 52 shares during the period. Finally, KPP Advisory Services LLC lifted its stake in Valero Energy by 2.5% during the first quarter. KPP Advisory Services LLC now owns 2,156 shares of the oil and gas company’s stock worth $533,000 after purchasing an additional 52 shares during the period. Hedge funds and other institutional investors own 78.69% of the company’s stock.
Valero Energy Company Profile
Valero Energy Corporation is a San Antonio, Texas–based integrated downstream energy company that manufactures and markets transportation fuels, petrochemical feedstocks and other industrial products. The company’s operations focus on refining crude oil into finished fuels such as gasoline, diesel and jet fuel, as well as producing asphalt and other refined product streams for commercial and industrial customers.
In addition to refining, Valero has significant operations in renewable fuels, including the production of ethanol and other biofuels, and it manages an extensive logistics network of pipelines, terminals, rail and marine assets to move feedstocks and finished products.
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