Valero Energy (NYSE:VLO) Earns Outperform Rating from Analysts at Wolfe Research

Wolfe Research began coverage on shares of Valero Energy (NYSE:VLO) in a report issued on Thursday morning, MarketBeat Ratings reports. The firm issued an outperform rating and a $177.00 price objective on the oil and gas company’s stock.

A number of other equities research analysts have also issued reports on the stock. Mizuho raised shares of Valero Energy from a neutral rating to an outperform rating and increased their price objective for the company from $165.00 to $175.00 in a report on Wednesday, July 17th. The Goldman Sachs Group lifted their price target on shares of Valero Energy from $130.00 to $171.00 and gave the company a sell rating in a report on Friday, March 22nd. Piper Sandler dropped their price objective on shares of Valero Energy from $187.00 to $169.00 and set an overweight rating for the company in a report on Friday, June 14th. JPMorgan Chase & Co. cut their price objective on Valero Energy from $178.00 to $172.00 and set an overweight rating for the company in a research report on Tuesday, July 2nd. Finally, Scotiabank boosted their target price on Valero Energy from $165.00 to $173.00 and gave the stock a sector outperform rating in a research report on Friday, July 12th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average price target of $171.47.

Valero Energy Stock Up 0.4 %

VLO stock opened at $148.33 on Thursday. The business’s 50-day moving average price is $154.27 and its 200-day moving average price is $152.53. The stock has a market cap of $48.50 billion, a P/E ratio of 7.35, a PEG ratio of 1.80 and a beta of 1.42. The company has a quick ratio of 1.10, a current ratio of 1.59 and a debt-to-equity ratio of 0.35. Valero Energy has a twelve month low of $119.09 and a twelve month high of $184.79.

Valero Energy (NYSE:VLO) last issued its quarterly earnings results on Thursday, April 25th. The oil and gas company reported $3.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.18 by $0.64. The business had revenue of $31.76 billion during the quarter, compared to analyst estimates of $32.02 billion. Valero Energy had a return on equity of 24.82% and a net margin of 5.01%. Valero Energy’s revenue for the quarter was down 12.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $8.27 EPS. On average, equities research analysts forecast that Valero Energy will post 13.74 EPS for the current year.

Valero Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Thursday, August 1st will be issued a $1.07 dividend. This represents a $4.28 dividend on an annualized basis and a dividend yield of 2.89%. The ex-dividend date of this dividend is Thursday, August 1st. Valero Energy’s dividend payout ratio (DPR) is 21.20%.

Insider Activity at Valero Energy

In other Valero Energy news, Director Kimberly S. Greene sold 720 shares of Valero Energy stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $158.12, for a total transaction of $113,846.40. Following the completion of the transaction, the director now directly owns 13,314 shares of the company’s stock, valued at $2,105,209.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.04% of the stock is currently owned by insiders.

Institutional Trading of Valero Energy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Collective Family Office LLC grew its stake in shares of Valero Energy by 1.5% during the first quarter. Collective Family Office LLC now owns 4,040 shares of the oil and gas company’s stock valued at $690,000 after buying an additional 58 shares during the last quarter. Versant Capital Management Inc grew its position in Valero Energy by 4.7% in the 1st quarter. Versant Capital Management Inc now owns 1,327 shares of the oil and gas company’s stock valued at $227,000 after acquiring an additional 59 shares during the last quarter. Covenant Asset Management LLC increased its stake in Valero Energy by 0.4% in the first quarter. Covenant Asset Management LLC now owns 14,659 shares of the oil and gas company’s stock worth $2,502,000 after purchasing an additional 64 shares during the period. Drive Wealth Management LLC lifted its position in shares of Valero Energy by 1.1% during the first quarter. Drive Wealth Management LLC now owns 5,797 shares of the oil and gas company’s stock worth $990,000 after purchasing an additional 65 shares during the last quarter. Finally, Rovin Capital UT ADV boosted its stake in shares of Valero Energy by 3.5% during the first quarter. Rovin Capital UT ADV now owns 1,968 shares of the oil and gas company’s stock valued at $336,000 after purchasing an additional 67 shares during the period. 78.69% of the stock is owned by hedge funds and other institutional investors.

Valero Energy Company Profile

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.