Valero Energy (NYSE:VLO) Sets New 52-Week High Following Analyst Upgrade

Valero Energy Corporation (NYSE:VLO – Get Free Report) hit a new 52-week high on Monday after Bank of America raised their price target on the stock from $395.00 to $414.00. Bank of America currently has a neutral rating on the stock. Valero Energy traded as high as $419.45 and last traded at $419.2580, with a volume of 1095176 shares changing hands. The stock had previously closed at $406.30.

A number of other research analysts have also recently commented on VLO. Jefferies Financial Group restated a “hold” rating and issued a $401.00 price target on shares of Valero Energy in a research report on Tuesday, September 22nd. The Goldman Sachs Group increased their price objective on shares of Valero Energy from $365.00 to $457.00 and gave the stock a “buy” rating in a research note on Wednesday, September 23rd. TD Cowen raised their target price on shares of Valero Energy from $338.00 to $350.00 and gave the company a “hold” rating in a report on Monday, August 3rd. Erste Group Bank cut shares of Valero Energy from a “buy” rating to a “hold” rating in a research report on Thursday, August 27th. Finally, Zacks Research upgraded shares of Valero Energy from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 4th. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Valero Energy currently has an average rating of “Moderate Buy” and a consensus target price of $348.81.

Read Our Latest Analysis on Valero Energy

Institutional Investors Weigh In On Valero Energy

Hedge funds have recently made changes to their positions in the stock. Moore Capital Management LP bought a new position in Valero Energy in the 2nd quarter valued at about $13,193,000. Fort Washington Investment Advisors Inc. OH boosted its stake in Valero Energy by 4.2% during the 1st quarter. Fort Washington Investment Advisors Inc. OH now owns 192,430 shares of the oil and gas company’s stock valued at $47,546,000 after purchasing an additional 7,702 shares during the last quarter. Dymon Asia Capital Singapore PTE. LTD. bought a new stake in Valero Energy during the 4th quarter worth approximately $2,268,000. TrueMark Investments LLC purchased a new stake in shares of Valero Energy in the first quarter worth approximately $8,921,000. Finally, Jennison Associates LLC raised its stake in shares of Valero Energy by 377.1% in the first quarter. Jennison Associates LLC now owns 413,437 shares of the oil and gas company’s stock worth $102,152,000 after purchasing an additional 326,777 shares during the last quarter. 78.69% of the stock is currently owned by institutional investors and hedge funds.

Valero Energy Stock Up 3.2%

The company has a debt-to-equity ratio of 0.37, a current ratio of 1.64 and a quick ratio of 1.23. The stock has a fifty day moving average price of $358.82 and a two-hundred day moving average price of $291.58. The company has a market cap of $120.77 billion, a P/E ratio of 17.40, a price-to-earnings-growth ratio of 0.27 and a beta of 0.59.

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 (EPS) for the quarter, beating the consensus estimate of $10.11 by $2.43. The company had revenue of $44.48 billion for the quarter, compared to analysts’ expectations of $39.47 billion. Valero Energy had a return on equity of 26.74% and a net margin of 5.17%.Valero Energy’s quarterly revenue was up 48.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.28 earnings per share. On average, research analysts expect that Valero Energy Corporation will post 49.17 EPS for the current year.

Valero Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 31st. Shareholders of record on Friday, July 31st were issued a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend was Friday, July 31st. Valero Energy’s payout ratio is currently 19.92%.

Valero Energy Company Profile

(Get Free Report)

Valero Energy Corporation is an international petroleum refining, renewable fuels and marketing company headquartered in San Antonio, Texas. Founded in 1980, the company processes crude oil and other feedstocks into transportation fuels and other products used by commercial, industrial and consumer customers.

Valero’s refined products include gasoline, diesel, jet fuel, asphalt, lubricants and petrochemical feedstocks. The company also produces and markets ethanol and renewable diesel, including through its Diamond Green Diesel joint venture with Darling Ingredients.

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