Valero Energy Corporation (NYSE:VLO – Get Free Report)’s share price hit a new 52-week high during trading on Monday after Raymond James Financial raised their price target on the stock from $350.00 to $450.00. Raymond James Financial currently has a strong-buy rating on the stock. Valero Energy traded as high as $399.40 and last traded at $398.0460, with a volume of 371747 shares trading hands. The stock had previously closed at $390.42.
A number of other brokerages have also recently commented on VLO. Mizuho lifted their price objective on Valero Energy from $289.00 to $300.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 4th. Wells Fargo & Company increased their target price on Valero Energy from $356.00 to $389.00 and gave the company an “overweight” rating in a research note on Tuesday, September 1st. Piper Sandler raised their target price on Valero Energy from $329.00 to $435.00 and gave the stock an “overweight” rating in a report on Thursday, September 3rd. Jefferies Financial Group set a $350.00 target price on Valero Energy in a research report on Monday, August 3rd. Finally, Zacks Research raised Valero Energy from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 4th. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $317.41.
Check Out Our Latest Report on VLO
Insider Activity at Valero Energy
Valero Energy News Roundup
Here are the key news stories impacting Valero Energy this week:
- Positive Sentiment: Raymond James raised its price target to $450 from $350 and upgraded VLO to “strong buy.” The new target implies additional upside and provides a fresh catalyst for investor interest. Raymond James price-target upgrade
- Positive Sentiment: VLO was included in Zacks’ Rank #1 “Strong Buy” growth-stock list. The recognition reflects favorable growth and earnings characteristics and may attract momentum-oriented investors. Best Growth Stocks to Buy for September 15th
- Positive Sentiment: Investors continue to point to Valero’s refining advantages. Its access to heavy crude, constrained refining capacity and solid balance sheet could support margins and cash generation. A separate Zacks analysis argued that these strengths make the company attractive despite its higher valuation. Valero Energy Rallies 148% in a Year
- Positive Sentiment: Michael Burry reportedly retains a sizable VLO position. His continued ownership adds to the stock’s investor visibility and reinforces the bullish sentiment surrounding its strong performance. VLO Stock Heads for Best Year Since 1982
Institutional Investors Weigh In On Valero Energy
A number of hedge funds have recently modified their holdings of VLO. Bank of America Corp DE increased its stake in Valero Energy by 11.4% during the 1st quarter. Bank of America Corp DE now owns 5,033,310 shares of the oil and gas company’s stock worth $1,243,630,000 after purchasing an additional 516,975 shares in the last quarter. Norges Bank acquired a new position in shares of Valero Energy in the fourth quarter valued at approximately $1,111,542,000. Franklin Resources Inc. increased its position in shares of Valero Energy by 7.5% during the fourth quarter. Franklin Resources Inc. now owns 5,668,210 shares of the oil and gas company’s stock worth $922,728,000 after acquiring an additional 394,693 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Valero Energy by 9.4% during the first quarter. Bank of New York Mellon Corp now owns 2,969,320 shares of the oil and gas company’s stock worth $733,660,000 after acquiring an additional 254,604 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its holdings in shares of Valero Energy by 18.4% during the first quarter. Arrowstreet Capital Limited Partnership now owns 2,842,339 shares of the oil and gas company’s stock worth $702,285,000 after acquiring an additional 442,177 shares during the period. Institutional investors and hedge funds own 78.69% of the company’s stock.
Valero Energy Trading Up 3.7%
The firm has a market capitalization of $114.34 billion, a price-to-earnings ratio of 16.48, a price-to-earnings-growth ratio of 0.30 and a beta of 0.57. The business’s fifty day moving average is $331.87 and its 200 day moving average is $274.51. The company has a quick ratio of 1.23, a current ratio of 1.64 and a debt-to-equity ratio of 0.37.
Valero Energy (NYSE:VLO – Get Free Report) last announced its earnings results on Thursday, July 30th. The oil and gas company reported $12.54 earnings per share for the quarter, topping analysts’ consensus estimates of $10.11 by $2.43. Valero Energy had a net margin of 5.17% and a return on equity of 26.74%. The firm had revenue of $44.48 billion during the quarter, compared to analyst estimates of $39.47 billion. During the same period in the prior year, the business earned $2.28 EPS. The company’s revenue for the quarter was up 48.8% compared to the same quarter last year. Equities analysts predict that Valero Energy Corporation will post 41.95 earnings per share for the current year.
Valero Energy Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, August 31st. Stockholders of record on Friday, July 31st were given a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend was Friday, July 31st. Valero Energy’s dividend payout ratio is currently 19.92%.
About Valero Energy
Valero Energy Corporation is an international energy company headquartered in San Antonio, Texas. Its primary business is refining crude oil into transportation fuels and other products, including gasoline, diesel, jet fuel, asphalt, lubricants and petrochemical feedstocks.
Valero operates refineries and related facilities in the United States, Canada and the United Kingdom, and markets its products through wholesale and commercial channels in North America and other international markets.
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