Valero Energy Corp. (VLO) Upgraded to “Buy” by Tudor Pickering
Several other research analysts also recently commented on the company. Vetr downgraded Valero Energy Corp. from a strong-buy rating to a buy rating and set a $57.85 target price for the company. in a research note on Tuesday, July 26th. Zacks Investment Research raised Valero Energy Corp. from a sell rating to a hold rating in a research note on Tuesday, September 6th. TheStreet downgraded Valero Energy Corp. from a buy rating to a hold rating in a research note on Tuesday, October 25th. Jefferies Group set a $65.00 target price on Valero Energy Corp. and gave the stock a buy rating in a research note on Saturday, October 15th. Finally, Barclays PLC reissued an overweight rating and set a $73.00 target price on shares of Valero Energy Corp. in a research note on Thursday, July 28th. Eight analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. Valero Energy Corp. currently has an average rating of Buy and a consensus target price of $69.36.
Shares of Valero Energy Corp. (NYSE:VLO) traded up 1.04% during mid-day trading on Wednesday, hitting $64.29. 2,605,970 shares of the company were exchanged. The company has a market capitalization of $29.10 billion, a price-to-earnings ratio of 13.63 and a beta of 1.45. The firm has a 50 day moving average of $57.05 and a 200 day moving average of $54.56. Valero Energy Corp. has a 12-month low of $46.88 and a 12-month high of $73.88.
Valero Energy Corp. (NYSE:VLO) last posted its quarterly earnings results on Tuesday, October 25th. The company reported $1.24 EPS for the quarter, beating the Zacks’ consensus estimate of $0.93 by $0.31. The business earned $19.65 billion during the quarter, compared to the consensus estimate of $19.49 billion. Valero Energy Corp. had a return on equity of 10.40% and a net margin of 3.01%. Valero Energy Corp.’s revenue for the quarter was down 13.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.79 earnings per share. Equities research analysts forecast that Valero Energy Corp. will post $3.71 earnings per share for the current 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 yield of 3.77%. Valero Energy Corp.’s dividend payout ratio is currently 50.74%.
A number of hedge funds and other institutional investors have recently modified their holdings of VLO. Vanguard Group Inc. boosted its stake in Valero Energy Corp. by 1.8% in the second quarter. Vanguard Group Inc. now owns 32,767,093 shares of the company’s stock valued at $1,671,122,000 after buying an additional 565,217 shares during the last quarter. State Street Corp boosted its stake in Valero Energy Corp. by 0.7% in the second quarter. State Street Corp now owns 25,603,885 shares of the company’s stock valued at $1,305,805,000 after buying an additional 172,622 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Valero Energy Corp. by 3.0% in the second quarter. Bank of New York Mellon Corp now owns 11,867,349 shares of the company’s stock valued at $605,236,000 after buying an additional 351,131 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in Valero Energy Corp. by 20.7% in the third quarter. Ameriprise Financial Inc. now owns 11,515,670 shares of the company’s stock valued at $610,324,000 after buying an additional 1,978,291 shares during the last quarter. Finally, BlackRock Fund Advisors boosted its stake in Valero Energy Corp. by 0.6% in the third quarter. BlackRock Fund Advisors now owns 7,646,467 shares of the company’s stock valued at $405,263,000 after buying an additional 42,446 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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