Valero Energy Corporation (NYSE:VLO – Get Free Report)’s stock price was up 6% during mid-day trading on Wednesday . The stock traded as high as $282.49 and last traded at $282.2880. Approximately 1,174,123 shares were traded during mid-day trading, a decline of 66% from the average session volume of 3,495,232 shares. The stock had previously closed at $266.22.
Analyst Upgrades and Downgrades
Several research analysts have issued reports on the company. The Goldman Sachs Group boosted their target price on Valero Energy from $203.00 to $237.00 and gave the company a “buy” rating in a research report on Thursday, March 12th. Scotiabank lifted their price target on shares of Valero Energy from $178.00 to $226.00 and gave the company a “sector outperform” rating in a research note on Wednesday, April 22nd. Wolfe Research restated an “underperform” rating and issued a $203.00 price objective on shares of Valero Energy in a report on Tuesday, April 21st. Mizuho upped their price target on shares of Valero Energy from $222.00 to $289.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 27th. Finally, Piper Sandler upped their target price on Valero Energy from $236.00 to $263.00 and gave the stock an “overweight” rating in a report on Wednesday, April 8th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $247.59.
Get Our Latest Stock Report on VLO
Valero Energy Trading Up 4.4%
Valero Energy (NYSE:VLO – Get Free Report) last released its quarterly earnings data on Thursday, April 30th. The oil and gas company reported $4.22 EPS for the quarter, topping the consensus estimate of $3.16 by $1.06. The business had revenue of $32.38 billion for the quarter, compared to analyst estimates of $31.38 billion. Valero Energy had a return on equity of 15.94% and a net margin of 3.37%.The business’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.89 EPS. On average, analysts predict that Valero Energy Corporation will post 28.37 earnings per share for the current fiscal year.
Valero Energy Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, June 23rd. Shareholders of record on Thursday, May 21st were issued a dividend of $1.20 per share. The ex-dividend date of this dividend was Thursday, May 21st. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.7%. Valero Energy’s dividend payout ratio is presently 34.88%.
Insiders Place Their Bets
In related news, SVP Eric A. Fisher sold 7,500 shares of Valero Energy stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $268.17, for a total transaction of $2,011,275.00. Following the transaction, the senior vice president owned 19,742 shares in the company, valued at approximately $5,294,212.14. This trade represents a 27.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.36% of the company’s stock.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently modified their holdings of the company. Czech National Bank increased its holdings in Valero Energy by 1.7% during the 2nd quarter. Czech National Bank now owns 84,519 shares of the oil and gas company’s stock worth $22,012,000 after purchasing an additional 1,451 shares during the period. PensionDanmark Pensionsforsikringsaktieselskab lifted its position in Valero Energy by 12.1% during the 2nd quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 75,389 shares of the oil and gas company’s stock worth $19,634,000 after acquiring an additional 8,141 shares during the period. Assenagon Asset Management S.A. increased its stake in shares of Valero Energy by 43.3% during the second quarter. Assenagon Asset Management S.A. now owns 130,799 shares of the oil and gas company’s stock worth $34,065,000 after acquiring an additional 39,499 shares during the period. Apella Capital LLC raised its position in Valero Energy by 7.6% in the second quarter. Apella Capital LLC now owns 6,782 shares of the oil and gas company’s stock worth $1,806,000 after acquiring an additional 481 shares in the last quarter. Finally, 55 North Private Wealth LLC raised its holdings in Valero Energy by 5.6% during the second quarter. 55 North Private Wealth LLC now owns 1,666 shares of the oil and gas company’s stock worth $434,000 after purchasing an additional 88 shares during the last quarter. 78.69% of the stock is currently owned by hedge funds and other 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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