Valero Energy Corporation (NYSE:VLO – Get Free Report) reached a new 52-week high on Tuesday . The stock traded as high as $322.28 and last traded at $322.43, with a volume of 540262 shares trading hands. The stock had previously closed at $314.95.
Analyst Ratings Changes
Several equities analysts recently issued reports on VLO shares. Citigroup boosted their price target on Valero Energy from $259.00 to $302.00 and gave the company a “neutral” rating in a research note on Tuesday, July 14th. Wolfe Research reissued an “underperform” rating and set a $203.00 price objective on shares of Valero Energy in a report on Tuesday, April 21st. Weiss Ratings upgraded Valero Energy from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday. Piper Sandler restated an “overweight” rating and issued a $329.00 target price on shares of Valero Energy in a research note on Thursday, July 23rd. Finally, Raymond James Financial raised their target price on Valero Energy from $300.00 to $340.00 and gave the stock a “strong-buy” rating in a research report on Monday, July 13th. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $288.00.
Get Our Latest Research Report on VLO
Valero Energy Stock Performance
Valero Energy (NYSE:VLO – Get Free Report) last posted its earnings results on Thursday, July 30th. The oil and gas company reported $12.54 earnings per share for the quarter, topping the consensus estimate of $10.11 by $2.43. The business had revenue of $44.48 billion for the quarter, compared to analyst estimates of $39.47 billion. Valero Energy had a net margin of 5.17% and a return on equity of 26.74%. The firm’s quarterly revenue was up 48.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.28 EPS. Equities analysts forecast that Valero Energy Corporation will post 39.55 EPS for the current year.
Valero Energy Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, August 31st. Shareholders of record on Friday, July 31st will be given a $1.20 dividend. The ex-dividend date is Friday, July 31st. This represents a $4.80 dividend on an annualized basis and a yield of 1.5%. Valero Energy’s payout ratio is 19.92%.
Insiders Place Their Bets
In other news, SVP Eric A. Fisher sold 7,500 shares of the firm’s stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $268.17, for a total transaction of $2,011,275.00. Following the completion of the sale, the senior vice president owned 19,742 shares of the company’s stock, valued at approximately $5,294,212.14. This trade represents a 27.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.36% of the company’s stock.
Hedge Funds Weigh In On Valero Energy
A number of hedge funds and other institutional investors have recently made changes to their positions in VLO. Whipplewood Advisors LLC lifted its holdings in Valero Energy by 3,400.0% during the first quarter. Whipplewood Advisors LLC now owns 105 shares of the oil and gas company’s stock worth $26,000 after acquiring an additional 102 shares in the last quarter. JPL Wealth Management LLC bought a new stake in shares of Valero Energy in the third quarter worth about $27,000. Financial Life Planners acquired a new stake in shares of Valero Energy during the first quarter worth about $28,000. Valued Wealth Advisors LLC raised its position in shares of Valero Energy by 134.0% during the first quarter. Valued Wealth Advisors LLC now owns 117 shares of the oil and gas company’s stock worth $29,000 after purchasing an additional 67 shares during the period. Finally, Torren Management LLC bought a new position in shares of Valero Energy during the 4th quarter valued at about $30,000. 78.69% of the stock is owned by institutional investors.
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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