Valero Energy (NYSE:VLO) Hits New 52-Week High – Here’s What Happened

Valero Energy Corporation (NYSE:VLO) shares hit a new 52-week high during trading on Monday . The company traded as high as $416.66 and last traded at $417.92, with a volume of 9284987 shares trading hands. The stock had previously closed at $413.28.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on VLO. Zacks Research upgraded shares of Valero Energy from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 4th. Jefferies Financial Group set a $350.00 price target on shares of Valero Energy in a research note on Monday, August 3rd. The Goldman Sachs Group increased their price objective on Valero Energy from $286.00 to $357.00 and gave the stock a “buy” rating in a report on Wednesday, July 22nd. Barclays lifted their price objective on Valero Energy from $279.00 to $323.00 and gave the company an “overweight” rating in a research report on Friday, July 31st. Finally, Citigroup upped their target price on Valero Energy from $259.00 to $302.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 14th. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $325.69.

Valero Energy Price Performance

The stock has a 50 day moving average of $339.56 and a two-hundred day moving average of $278.77. 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 capitalization of $117.95 billion, a P/E ratio of 17.02, a P/E/G ratio of 0.28 and a beta of 0.57.

Valero Energy (NYSE:VLO) last announced its earnings results on Thursday, July 30th. The oil and gas company reported $12.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $10.11 by $2.43. Valero Energy had a return on equity of 26.74% and a net margin of 5.17%.The firm had revenue of $44.48 billion during the quarter, compared to analysts’ expectations of $39.47 billion. During the same quarter in the prior year, the business earned $2.28 earnings per share. The company’s revenue was up 48.8% on a year-over-year basis. Sell-side analysts predict that Valero Energy Corporation will post 48.58 earnings per share for the current fiscal year.

Valero Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 31st. Investors of record on Friday, July 31st were issued a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend was Friday, July 31st. Valero Energy’s dividend payout ratio is currently 19.92%.

Insider Transactions at Valero Energy

In related news, SVP Eric Fisher sold 7,500 shares of Valero Energy stock in a transaction on Monday, June 29th. The shares were sold at an average price of $268.17, for a total value of $2,011,275.00. Following the transaction, the senior vice president owned 19,742 shares in the company, valued at $5,294,212.14. This trade represents a 27.53% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.36% of the company’s stock.

Institutional Investors Weigh In On Valero Energy

Several hedge funds and other institutional investors have recently made changes to their positions in VLO. Cornerstone Financial Management LLC increased its holdings in Valero Energy by 57.6% in the 2nd quarter. Cornerstone Financial Management LLC now owns 104 shares of the oil and gas company’s stock valued at $27,000 after buying an additional 38 shares during the period. V Square Quantitative Management LLC lifted its holdings in shares of Valero Energy by 0.6% during the 1st quarter. V Square Quantitative Management LLC now owns 6,670 shares of the oil and gas company’s stock worth $1,648,000 after acquiring an additional 42 shares during the period. Bouchey Financial Group Ltd. boosted its position in shares of Valero Energy by 4.6% during the 2nd quarter. Bouchey Financial Group Ltd. now owns 1,016 shares of the oil and gas company’s stock valued at $265,000 after acquiring an additional 45 shares in the last quarter. M.E. Allison & CO. Inc. boosted its position in shares of Valero Energy by 5.8% during the 2nd quarter. M.E. Allison & CO. Inc. now owns 916 shares of the oil and gas company’s stock valued at $239,000 after acquiring an additional 50 shares in the last quarter. Finally, Ridgecrest Wealth Partners LLC increased its stake in Valero Energy by 5.0% in the second quarter. Ridgecrest Wealth Partners LLC now owns 1,054 shares of the oil and gas company’s stock valued at $275,000 after acquiring an additional 50 shares during the period. 78.69% of the stock is owned by institutional investors and hedge funds.

About Valero Energy

Valero Energy Corporation is an international energy company headquartered in San Antonio, Texas. Its primary business is refining crude oil into transportation fuels and other products, including gasoline, diesel, jet fuel, asphalt, lubricants and petrochemical feedstocks.

Valero operates refineries and related facilities in the United States, Canada and the United Kingdom, and markets its products through wholesale and commercial channels in North America and other international markets.