Valero Energy Corp. (VLO) Downgraded by Vetr Inc.
Vetr downgraded shares of Valero Energy Corp. (NYSE:VLO) from a buy rating to a hold rating in a research report report published on Thursday morning. Vetr currently has $65.26 price target on the stock.
VLO has been the topic of a number of other reports. Citigroup Inc. upped their target price on shares of Valero Energy Corp. from $58.00 to $61.00 and gave the company a buy rating in a report on Wednesday, October 19th. Jefferies Group initiated coverage on shares of Valero Energy Corp. in a report on Tuesday, August 23rd. They issued a buy rating and a $66.00 target price on the stock. Howard Weil upped their target price on shares of Valero Energy Corp. from $58.00 to $62.00 and gave the company a sector outperform rating in a report on Wednesday, October 26th. Piper Jaffray Cos. upped their target price on shares of Valero Energy Corp. from $48.00 to $54.00 and gave the company a neutral rating in a report on Monday, August 22nd. Finally, Credit Suisse Group AG reaffirmed a hold rating and issued a $62.00 target price on shares of Valero Energy Corp. in a report on Thursday, July 14th. Ten equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. Valero Energy Corp. has an average rating of Buy and an average price target of $69.36.
Valero Energy Corp. (NYSE:VLO) opened at 62.58 on Thursday. The company has a market capitalization of $28.33 billion, a price-to-earnings ratio of 13.27 and a beta of 1.45. Valero Energy Corp. has a 12-month low of $46.88 and a 12-month high of $73.88. The firm’s 50-day moving average price is $56.37 and its 200 day moving average price is $54.56.
Valero Energy Corp. (NYSE:VLO) last issued its earnings results on Tuesday, October 25th. The company reported $1.24 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.93 by $0.31. The company had revenue of $19.65 billion for the quarter, compared to analysts’ expectations of $19.49 billion. Valero Energy Corp. had a net margin of 3.01% and a return on equity of 10.40%. Valero Energy Corp.’s quarterly revenue was down 13.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.79 EPS. On average, equities research analysts expect that Valero Energy Corp. will post $3.71 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Tuesday, November 22nd will be given a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 3.84%. The ex-dividend date is Friday, November 18th. Valero Energy Corp.’s dividend payout ratio (DPR) is currently 50.74%.
Several hedge funds have recently bought and sold shares of VLO. Legal & General Group Plc raised its stake in Valero Energy Corp. by 2.3% in the first quarter. Legal & General Group Plc now owns 2,455,753 shares of the company’s stock valued at $157,474,000 after buying an additional 56,133 shares during the period. Envestnet Asset Management Inc. raised its stake in Valero Energy Corp. by 13.5% in the first quarter. Envestnet Asset Management Inc. now owns 167,332 shares of the company’s stock valued at $10,733,000 after buying an additional 19,921 shares during the period. A.R.T. Advisors LLC acquired a new stake in Valero Energy Corp. during the first quarter valued at about $7,993,000. Schonfeld Strategic Advisors LLC acquired a new stake in Valero Energy Corp. during the first quarter valued at about $1,038,000. Finally, Samlyn Capital LLC raised its stake in Valero Energy Corp. by 14.2% in the first quarter. Samlyn Capital LLC now owns 1,309,866 shares of the company’s stock valued at $84,015,000 after buying an additional 162,946 shares during the period. 78.71% of the stock is currently owned by institutional investors.
About Valero Energy Corp.
Valero Energy Corporation (Valero), through Valero Energy Partners LP (VLP), owns, operates, develops and acquires crude oil and refined petroleum products pipelines, terminals, and other transportation and logistics assets. The Company operates in two segments: refining and ethanol. Its refining segment includes refining and marketing operations in the United States, Canada, the United Kingdom, Aruba and Ireland.
To view Vetr’s full report, visit Vetr’s official website.
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