Valero Energy (NYSE:VLO) Sets New 52-Week High – Still a Buy?

Valero Energy Corporation (NYSE:VLO) shares hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $353.00 and last traded at $347.9010, with a volume of 238231 shares. The stock had previously closed at $348.86.

Analyst Ratings Changes

Several research analysts recently commented on the company. The Goldman Sachs Group lifted their price target on Valero Energy from $286.00 to $357.00 and gave the stock a “buy” rating in a research report on Wednesday, July 22nd. Mizuho raised their price target on Valero Energy from $289.00 to $300.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 4th. Citigroup increased their price objective on shares of Valero Energy from $259.00 to $302.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 14th. Piper Sandler reaffirmed an “overweight” rating and set a $329.00 target price on shares of Valero Energy in a research note on Thursday, July 23rd. Finally, Barclays raised their price target on Valero Energy from $279.00 to $323.00 and gave the stock an “overweight” rating in a research note on Friday, July 31st. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Valero Energy has a consensus rating of “Moderate Buy” and an average target price of $288.00.

Valero Energy Price Performance

The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.23 and a current ratio of 1.64. The firm has a market cap of $99.42 billion, a PE ratio of 14.30, a price-to-earnings-growth ratio of 0.23 and a beta of 0.55. The stock has a 50 day simple moving average of $292.93 and a two-hundred day simple moving average of $254.21.

Valero Energy (NYSE:VLO) last announced its quarterly earnings results on Thursday, July 30th. The oil and gas company reported $12.54 earnings per share for the quarter, beating the consensus estimate of $10.11 by $2.43. Valero Energy had a return on equity of 26.74% and a net margin of 5.17%.The company had revenue of $44.48 billion during the quarter, compared to analysts’ expectations of $39.47 billion. During the same period last year, the business earned $2.28 earnings per share. Valero Energy’s quarterly revenue was up 48.8% on a year-over-year basis. Sell-side analysts expect that Valero Energy Corporation will post 40.62 earnings per share for the current year.

Valero Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 31st. Shareholders of record on Friday, July 31st will be issued a $1.20 dividend. The ex-dividend date of this dividend is Friday, July 31st. This represents a $4.80 dividend on an annualized basis and a yield of 1.4%. Valero Energy’s payout ratio is presently 19.92%.

Insider Activity at Valero Energy

In related news, SVP Eric A. Fisher sold 7,500 shares of the company’s stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $268.17, for a total value of $2,011,275.00. Following the completion of the transaction, the senior vice president owned 19,742 shares of the company’s stock, valued at approximately $5,294,212.14. This represents a 27.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.36% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. California State Teachers Retirement System increased its stake in shares of Valero Energy by 40,516.1% during the second quarter. California State Teachers Retirement System now owns 143,816,270 shares of the oil and gas company’s stock worth $37,455,509,000 after purchasing an additional 143,462,183 shares in the last quarter. Greenland Capital Management LP purchased a new stake in Valero Energy during the 2nd quarter worth approximately $398,000. Ameritas Advisory Services LLC raised its holdings in shares of Valero Energy by 76.3% during the second quarter. Ameritas Advisory Services LLC now owns 3,775 shares of the oil and gas company’s stock valued at $983,000 after acquiring an additional 1,634 shares during the last quarter. Guardian Wealth Advisors LLC NC lifted its position in shares of Valero Energy by 120.4% in the second quarter. Guardian Wealth Advisors LLC NC now owns 1,898 shares of the oil and gas company’s stock valued at $494,000 after acquiring an additional 1,037 shares in the last quarter. Finally, Wedmont Private Capital boosted its stake in shares of Valero Energy by 7.9% in the second quarter. Wedmont Private Capital now owns 8,311 shares of the oil and gas company’s stock worth $2,333,000 after acquiring an additional 610 shares during the last quarter. Hedge funds and other institutional investors own 78.69% of the company’s stock.

About Valero Energy

Valero Energy Corporation is a San Antonio, Texas–based integrated downstream energy company that manufactures and markets transportation fuels, petrochemical feedstocks and other industrial products. The company’s operations focus on refining crude oil into finished fuels such as gasoline, diesel and jet fuel, as well as producing asphalt and other refined product streams for commercial and industrial customers.

In addition to refining, Valero has significant operations in renewable fuels, including the production of ethanol and other biofuels, and it manages an extensive logistics network of pipelines, terminals, rail and marine assets to move feedstocks and finished products.