Valero Energy Co. (NYSE:VLO) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Valero Energy Co. (NYSE:VLO) have been assigned an average rating of “Moderate Buy” from the fifteen research firms that are covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation, ten have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $155.07.

A number of research analysts have weighed in on VLO shares. Bank of America initiated coverage on shares of Valero Energy in a research note on Thursday, October 17th. They issued a “neutral” rating and a $150.00 target price on the stock. Barclays lowered their price objective on Valero Energy from $146.00 to $140.00 and set an “overweight” rating on the stock in a research report on Monday, November 11th. Citigroup cut their target price on shares of Valero Energy from $192.00 to $176.00 and set a “buy” rating for the company in a research report on Friday, October 25th. Piper Sandler cut shares of Valero Energy from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $169.00 to $123.00 in a research note on Friday, September 20th. Finally, Mizuho cut their target price on shares of Valero Energy from $171.00 to $165.00 and set an “outperform” rating on the stock in a report on Monday.

Valero Energy Trading Down 2.3 %

VLO opened at $118.93 on Friday. The company has a fifty day moving average price of $134.83 and a two-hundred day moving average price of $142.46. The company has a market cap of $37.65 billion, a P/E ratio of 10.67, a price-to-earnings-growth ratio of 2.43 and a beta of 1.39. The company has a current ratio of 1.57, a quick ratio of 1.11 and a debt-to-equity ratio of 0.35. Valero Energy has a 1-year low of $117.14 and a 1-year high of $184.79.

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

Valero Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Wednesday, November 20th will be issued a dividend of $1.07 per share. The ex-dividend date is Wednesday, November 20th. This represents a $4.28 annualized dividend and a dividend yield of 3.60%. Valero Energy’s payout ratio is 38.39%.

Institutional Investors Weigh In On Valero Energy

Hedge funds and other institutional investors have recently made changes to their positions in the business. Independent Solutions Wealth Management LLC increased its holdings in Valero Energy by 2.1% in the 3rd quarter. Independent Solutions Wealth Management LLC now owns 13,258 shares of the oil and gas company’s stock worth $1,790,000 after acquiring an additional 273 shares in the last quarter. Principal Financial Group Inc. raised its holdings in Valero Energy by 0.8% during the 3rd quarter. Principal Financial Group Inc. now owns 368,454 shares of the oil and gas company’s stock valued at $49,752,000 after buying an additional 3,065 shares during the period. 1ST Source Bank grew its holdings in Valero Energy by 3.3% during the 3rd quarter. 1ST Source Bank now owns 4,286 shares of the oil and gas company’s stock valued at $579,000 after purchasing an additional 135 shares during the last quarter. Oddo BHF Asset Management Sas bought a new stake in shares of Valero Energy during the 3rd quarter worth approximately $2,283,000. Finally, Franklin Resources Inc. boosted its stake in shares of Valero Energy by 5.6% during the third quarter. Franklin Resources Inc. now owns 4,687,585 shares of the oil and gas company’s stock valued at $639,268,000 after purchasing an additional 247,630 shares during the period. Hedge funds and other institutional investors own 78.69% of the company’s stock.

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.