Valero Energy (NYSE:VLO) Hits New 52-Week Low Following Analyst Downgrade

Valero Energy Co. (NYSE:VLO)’s share price reached a new 52-week low on Tuesday after Mizuho lowered their price target on the stock from $171.00 to $165.00. Mizuho currently has an outperform rating on the stock. Valero Energy traded as low as $123.63 and last traded at $124.79, with a volume of 247502 shares traded. The stock had previously closed at $125.07.

Other equities research analysts have also recently issued reports about the company. Bank of America initiated coverage on Valero Energy in a report on Thursday, October 17th. They set a “neutral” rating and a $150.00 target price for the company. TD Cowen cut their target price on shares of Valero Energy from $145.00 to $140.00 and set a “buy” rating on the stock in a report on Friday, October 25th. Barclays lowered their price target on shares of Valero Energy from $146.00 to $140.00 and set an “overweight” rating for the company in a report on Monday, November 11th. Piper Sandler lowered shares of Valero Energy from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $169.00 to $123.00 in a report on Friday, September 20th. Finally, Wells Fargo & Company lowered their price objective on shares of Valero Energy from $165.00 to $160.00 and set an “overweight” rating for the company in a research note on Monday, December 9th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Valero Energy has a consensus rating of “Moderate Buy” and a consensus price target of $155.07.

Institutional Trading of Valero Energy

A number of hedge funds and other institutional investors have recently modified their holdings of VLO. EdgeRock Capital LLC purchased a new position in Valero Energy during the second quarter valued at $27,000. Peterson Financial Group Inc. bought a new position in shares of Valero Energy during the third quarter valued at $28,000. Summit Securities Group LLC bought a new position in Valero Energy in the 2nd quarter worth about $31,000. Compagnie Lombard Odier SCmA bought a new position in Valero Energy in the 3rd quarter worth about $34,000. Finally, True Wealth Design LLC grew its position in Valero Energy by 196.8% during the 3rd quarter. True Wealth Design LLC now owns 276 shares of the oil and gas company’s stock valued at $37,000 after purchasing an additional 183 shares during the last quarter. 78.69% of the stock is owned by hedge funds and other institutional investors.

Valero Energy Stock Performance

The company has a current ratio of 1.57, a quick ratio of 1.11 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $39.54 billion, a P/E ratio of 11.20, a price-to-earnings-growth ratio of 2.43 and a beta of 1.39. The business’s 50 day simple moving average is $135.66 and its two-hundred day simple moving average is $142.78.

Valero Energy (NYSE:VLO) last posted its quarterly earnings results on Thursday, October 24th. The oil and gas company reported $1.14 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.16. Valero Energy had a return on equity of 13.07% and a net margin of 2.74%. The firm had revenue of $32.88 billion during the quarter, compared to analysts’ expectations of $31.04 billion. During the same quarter in the previous year, the business earned $7.49 earnings per share. The company’s revenue was down 14.4% on a year-over-year basis. Sell-side analysts anticipate that Valero Energy Co. will post 8.86 EPS for the current fiscal year.

Valero Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Wednesday, November 20th will be paid a $1.07 dividend. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $4.28 dividend on an annualized basis and a dividend yield of 3.43%. Valero Energy’s dividend payout ratio is presently 38.39%.

About Valero Energy

Valero Energy Corporation manufactures, markets, and sells petroleum-based and low-carbon liquid transportation fuels and petrochemical products in the United States, Canada, the United Kingdom, Ireland, Latin America, Mexico, Peru, and internationally. It operates through three segments: Refining, Renewable Diesel, and Ethanol.