Valero Energy Co. (NYSE:VLO) announced a quarterly dividend on Wednesday, October 31st, RTT News reports. Investors of record on Tuesday, November 20th will be given a dividend of 0.80 per share by the oil and gas company on Wednesday, December 12th. This represents a $3.20 dividend on an annualized basis and a yield of 3.51%.
Valero Energy has raised its dividend by an average of 38.7% per year over the last three years and has raised its dividend annually for the last 7 consecutive years. Valero Energy has a dividend payout ratio of 49.7% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Valero Energy to earn $10.08 per share next year, which means the company should continue to be able to cover its $3.20 annual dividend with an expected future payout ratio of 31.7%.
NYSE VLO traded up $0.99 on Wednesday, reaching $91.09. The company’s stock had a trading volume of 5,539,259 shares, compared to its average volume of 3,422,373. The stock has a market cap of $36.67 billion, a P/E ratio of 18.63, a PEG ratio of 0.72 and a beta of 1.03. Valero Energy has a 52 week low of $77.78 and a 52 week high of $126.98. The company has a quick ratio of 1.10, a current ratio of 1.67 and a debt-to-equity ratio of 0.39.
A number of analysts recently weighed in on the stock. ValuEngine cut shares of Valero Energy from a “buy” rating to a “hold” rating in a research note on Wednesday, July 4th. Raymond James decreased their price objective on shares of Valero Energy from $141.00 to $117.00 and set an “outperform” rating on the stock in a research note on Friday, October 26th. Wells Fargo & Co decreased their price objective on shares of Valero Energy from $141.00 to $135.00 and set a “buy” rating on the stock in a research note on Friday, October 26th. Mizuho started coverage on shares of Valero Energy in a research note on Wednesday, August 1st. They set a “neutral” rating and a $125.00 price objective on the stock. Finally, Morgan Stanley upped their price objective on shares of Valero Energy from $140.00 to $150.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 31st. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and twelve have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $116.71.
About Valero Energy
Valero Energy Corporation operates as an independent petroleum refining and ethanol producing company. It operates through three segments: Refining, Ethanol, and VLP (Valero Energy Partners LP). The company is involved in oil and gas refining, marketing, and bulk selling activities. It produces conventional and premium gasolines, gasoline meeting the specifications of the California Air Resources Board (CARB), diesel fuels, low-sulfur and ultra-low-sulfur diesel fuels, CARB diesel, other distillates, jet fuels, asphalts, petrochemicals, lubricants, and other refined petroleum products.
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