Valero Energy Corporation (VLO) Earns Buy Rating from Scotiabank
Scotiabank restated their buy rating on shares of Valero Energy Corporation (NYSE:VLO) in a research report released on Tuesday morning. They currently have a $84.00 target price on the oil and gas company’s stock.
Several other analysts also recently issued reports on the company. Zacks Investment Research downgraded Valero Energy Corporation from a buy rating to a hold rating in a report on Wednesday, October 25th. Royal Bank Of Canada reiterated a buy rating and issued a $77.00 target price on shares of Valero Energy Corporation in a report on Thursday, August 31st. BidaskClub downgraded Valero Energy Corporation from a hold rating to a sell rating in a report on Wednesday, August 2nd. Citigroup Inc. upped their target price on Valero Energy Corporation from $68.00 to $76.00 and gave the company a buy rating in a report on Wednesday, October 18th. Finally, Macquarie reiterated a neutral rating on shares of Valero Energy Corporation in a report on Monday, October 23rd. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and eleven have given a buy rating to the company. The stock presently has a consensus rating of Hold and an average target price of $79.28.
Shares of Valero Energy Corporation (NYSE VLO) opened at $82.88 on Tuesday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.24 and a current ratio of 1.91. The stock has a market capitalization of $36,270.00, a PE ratio of 17.58, a price-to-earnings-growth ratio of 1.69 and a beta of 1.17. Valero Energy Corporation has a twelve month low of $60.35 and a twelve month high of $82.92.
Valero Energy Corporation (NYSE:VLO) last posted its quarterly earnings data on Thursday, October 26th. The oil and gas company reported $1.91 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.83 by $0.08. The firm had revenue of $23.56 billion for the quarter, compared to the consensus estimate of $19.42 billion. Valero Energy Corporation had a return on equity of 9.87% and a net margin of 2.33%. The business’s revenue for the quarter was up 19.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.24 EPS. equities analysts expect that Valero Energy Corporation will post 4.83 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 12th. Shareholders of record on Tuesday, November 21st will be given a dividend of $0.70 per share. The ex-dividend date of this dividend is Monday, November 20th. This represents a $2.80 dividend on an annualized basis and a yield of 3.38%. Valero Energy Corporation’s payout ratio is currently 60.74%.
In other Valero Energy Corporation news, CFO Michael S. Ciskowski sold 53,012 shares of the company’s stock in a transaction that occurred on Tuesday, September 19th. The stock was sold at an average price of $72.88, for a total transaction of $3,863,514.56. Following the completion of the sale, the chief financial officer now owns 67,413 shares of the company’s stock, valued at $4,913,059.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Stephen M. Waters sold 1,500 shares of the company’s stock in a transaction that occurred on Wednesday, September 6th. The stock was sold at an average price of $68.00, for a total value of $102,000.00. The disclosure for this sale can be found here. Insiders have sold 58,268 shares of company stock valued at $4,263,601 in the last ninety days. Company insiders own 0.45% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the business. BlackRock Inc. boosted its position in Valero Energy Corporation by 2.8% during the second quarter. BlackRock Inc. now owns 39,298,010 shares of the oil and gas company’s stock worth $2,651,044,000 after purchasing an additional 1,080,617 shares during the period. Vanguard Group Inc. boosted its position in Valero Energy Corporation by 2.2% during the second quarter. Vanguard Group Inc. now owns 34,153,259 shares of the oil and gas company’s stock worth $2,303,979,000 after purchasing an additional 747,980 shares during the period. Ameriprise Financial Inc. boosted its position in Valero Energy Corporation by 0.6% during the second quarter. Ameriprise Financial Inc. now owns 11,825,862 shares of the oil and gas company’s stock worth $797,793,000 after purchasing an additional 65,704 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Valero Energy Corporation by 4.3% in the third quarter. Bank of New York Mellon Corp now owns 11,273,542 shares of the oil and gas company’s stock valued at $867,273,000 after acquiring an additional 469,406 shares during the period. Finally, LSV Asset Management boosted its position in shares of Valero Energy Corporation by 4.2% in the second quarter. LSV Asset Management now owns 9,076,859 shares of the oil and gas company’s stock valued at $612,324,000 after acquiring an additional 366,009 shares during the period. 80.81% of the stock is owned by hedge funds and other institutional investors.
Valero Energy Corporation Company Profile
Valero Energy Corporation (Valero) is an independent petroleum refiner and ethanol producer. The Company’s segments include refining, ethanol and Valero Energy Partners LP (VLP). The refining segment includes its refining operations and the associated marketing activities. The ethanol segment includes its ethanol operations and the associated marketing activities, and logistics assets that support its ethanol operations.
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