Valero Energy Corp. (VLO) Upgraded at TheStreet
A number of other brokerages also recently issued reports on VLO. Vetr downgraded shares of Valero Energy Corp. from a buy rating to a hold rating and set a $65.26 price target on the stock. in a report on Thursday, November 10th. Scotiabank reiterated a sector outperform rating and issued a $62.00 price target (up from $58.00) on shares of Valero Energy Corp. in a report on Wednesday, October 26th. Howard Weil lifted their price target 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. Citigroup Inc. lifted their price target 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. Finally, Zacks Investment Research upgraded shares of Valero Energy Corp. from a sell rating to a hold rating in a report on Tuesday, September 6th. Eight investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of Buy and an average price target of $69.36.
Shares of Valero Energy Corp. (NYSE:VLO) opened at 63.63 on Monday. Valero Energy Corp. has a 12-month low of $46.88 and a 12-month high of $73.88. The stock has a market capitalization of $28.80 billion, a price-to-earnings ratio of 13.49 and a beta of 1.45. The stock’s 50 day moving average is $57.05 and its 200-day moving average is $54.56.
Valero Energy Corp. (NYSE:VLO) last released its earnings results on Tuesday, October 25th. The company reported $1.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.93 by $0.31. Valero Energy Corp. had a net margin of 3.01% and a return on equity of 10.40%. The company had revenue of $19.65 billion for the quarter, compared to analysts’ expectations of $19.49 billion. During the same quarter in the previous year, the company earned $2.79 EPS. Valero Energy Corp.’s revenue for the quarter was down 13.0% on a year-over-year basis. On average, analysts expect that Valero Energy Corp. will post $3.71 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Tuesday, November 22nd will be paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, November 18th. This represents a $2.40 dividend on an annualized basis and a yield of 3.77%. Valero Energy Corp.’s payout ratio is 50.74%.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Security National Trust Co. raised its position in shares of Valero Energy Corp. by 4.8% in the second quarter. Security National Trust Co. now owns 2,347 shares of the company’s stock worth $119,000 after buying an additional 107 shares during the last quarter. Chicago Partners Investment Group LLC bought a new position in shares of Valero Energy Corp. during the third quarter worth about $132,000. Amica Retiree Medical Trust bought a new position in shares of Valero Energy Corp. during the second quarter worth about $137,000. Oakworth Capital Inc. raised its position in shares of Valero Energy Corp. by 3.3% in the third quarter. Oakworth Capital Inc. now owns 2,684 shares of the company’s stock worth $142,000 after buying an additional 85 shares during the last quarter. Finally, Point72 Asia Hong Kong Ltd raised its position in shares of Valero Energy Corp. by 554.3% in the second quarter. Point72 Asia Hong Kong Ltd now owns 2,951 shares of the company’s stock worth $151,000 after buying an additional 2,500 shares during the last quarter. Institutional investors and hedge funds own 78.71% of the company’s stock.
Valero Energy Corp. Company Profile
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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