Valero Energy Corp. (VLO) Downgraded by Vetr Inc. to “Hold”
Valero Energy Corp. (NYSE:VLO) was downgraded by Vetr from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday. They presently have a $65.26 target price on the stock. Vetr‘s price target indicates a potential upside of 3.34% from the stock’s current price.
Several other analysts have also recently issued reports on the company. TheStreet upgraded Valero Energy Corp. from a “hold” rating to a “buy” rating in a report on Monday. Scotiabank reiterated a “sector outperform” rating and set a $62.00 price target (up from $58.00) on shares of Valero Energy Corp. in a report on Wednesday, October 26th. Howard Weil increased their price target on Valero Energy Corp. from $58.00 to $62.00 and gave the stock a “sector outperform” rating in a report on Wednesday, October 26th. Citigroup Inc. increased their price target on Valero Energy Corp. from $58.00 to $61.00 and gave the stock a “buy” rating in a report on Wednesday, October 19th. Finally, Jefferies Group set a $65.00 price target on Valero Energy Corp. and gave the stock a “buy” rating in a report on Saturday, October 15th. Nine analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $69.36.
Valero Energy Corp. (NYSE:VLO) opened at 63.15 on Wednesday. Valero Energy Corp. has a 1-year low of $46.88 and a 1-year high of $73.88. The stock has a market cap of $28.59 billion, a price-to-earnings ratio of 13.39 and a beta of 1.45. The firm has a 50-day moving average price of $56.37 and a 200 day moving average price of $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 Thomson Reuters’ consensus estimate of $0.93 by $0.31. The company earned $19.65 billion during the quarter, compared to analysts’ expectations of $19.49 billion. Valero Energy Corp. had a return on equity of 10.40% and a net margin of 3.01%. The firm’s quarterly revenue was down 13.0% on a year-over-year basis. During the same period in the prior year, the business earned $2.79 EPS. On average, equities research analysts anticipate that Valero Energy Corp. will post $3.71 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Tuesday, November 22nd will be paid a $0.60 dividend. The ex-dividend date is Friday, November 18th. This represents a $2.40 annualized dividend and a dividend yield of 3.80%. Valero Energy Corp.’s dividend payout ratio (DPR) is currently 50.74%.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. LPL Financial LLC increased its position in shares of Valero Energy Corp. by 2.5% in the first quarter. LPL Financial LLC now owns 112,921 shares of the company’s stock valued at $7,130,000 after buying an additional 2,717 shares during the period. Babson Capital Management LLC increased its position in shares of Valero Energy Corp. by 9.3% in the first quarter. Babson Capital Management LLC now owns 76,474 shares of the company’s stock valued at $4,905,000 after buying an additional 6,500 shares during the period. Seven Eight Capital LLC bought a new position in shares of Valero Energy Corp. during the first quarter valued at $348,000. Squarepoint Ops LLC bought a new position in shares of Valero Energy Corp. during the first quarter valued at $2,957,000. Finally, Ladenburg Thalmann Financial Services Inc. increased its position in shares of Valero Energy Corp. by 32.8% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 33,360 shares of the company’s stock valued at $2,133,000 after buying an additional 8,232 shares during the period. Institutional investors own 78.71% of the company’s stock.
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.
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