Valero Energy Corporation (VLO) Receives Consensus Recommendation of “Buy” from Analysts
Valero Energy Corporation (NYSE:VLO) has received an average rating of “Buy” from the twenty-one research firms that are presently covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation, eight have given a hold recommendation and twelve have assigned a buy recommendation to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $72.88.
VLO has been the subject of several research reports. Standpoint Research initiated coverage on shares of Valero Energy Corporation in a report on Friday, June 30th. They issued an “accumulate” rating and a $84.00 target price for the company. Scotiabank set a $70.00 target price on shares of Valero Energy Corporation and gave the company a “buy” rating in a report on Thursday, July 27th. Jefferies Group LLC upgraded shares of Valero Energy Corporation from a “hold” rating to a “buy” rating and lifted their target price for the company from $65.00 to $80.00 in a report on Thursday, June 22nd. Citigroup Inc. dropped their target price on shares of Valero Energy Corporation from $70.00 to $68.00 and set a “buy” rating for the company in a report on Monday, July 17th. Finally, BidaskClub upgraded shares of Valero Energy Corporation from a “hold” rating to a “buy” rating in a report on Wednesday, July 12th.
Shares of Valero Energy Corporation (NYSE:VLO) traded up 1.27% during mid-day trading on Friday, hitting $74.29. The company had a trading volume of 3,263,922 shares. Valero Energy Corporation has a 52-week low of $51.17 and a 52-week high of $74.36. The firm has a 50-day moving average price of $68.09 and a 200 day moving average price of $66.42. The firm has a market capitalization of $32.81 billion, a price-to-earnings ratio of 18.34 and a beta of 1.19.
Valero Energy Corporation (NYSE:VLO) last posted its earnings results on Thursday, July 27th. The oil and gas company reported $1.23 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.08 by $0.15. Valero Energy Corporation had a net margin of 2.17% and a return on equity of 8.59%. The firm had revenue of $22.25 billion during the quarter, compared to the consensus estimate of $19.32 billion. During the same quarter last year, the firm earned $1.07 EPS. The firm’s revenue for the quarter was up 13.6% on a year-over-year basis. Analysts expect that Valero Energy Corporation will post $4.36 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 7th. Stockholders of record on Wednesday, August 9th were given a dividend of $0.70 per share. The ex-dividend date of this dividend was Monday, August 7th. This represents a $2.80 annualized dividend and a dividend yield of 3.77%. Valero Energy Corporation’s dividend payout ratio (DPR) is currently 69.14%.
In related news, Director Stephen M. Waters sold 1,500 shares of Valero Energy Corporation stock in a transaction on Wednesday, September 6th. The shares were sold at an average price of $68.00, for a total transaction of $102,000.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Michael S. Ciskowski sold 53,012 shares of Valero Energy Corporation stock in a transaction 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 sale, the chief financial officer now owns 67,413 shares in the company, valued at $4,913,059.44. The disclosure for this sale can be found here. 0.45% of the stock is currently owned by insiders.
A number of large investors have recently made changes to their positions in VLO. Independent Portfolio Consultants Inc. raised its stake in Valero Energy Corporation by 62.2% during the 2nd quarter. Independent Portfolio Consultants Inc. now owns 1,614 shares of the oil and gas company’s stock worth $109,000 after acquiring an additional 619 shares in the last quarter. First Personal Financial Services raised its stake in Valero Energy Corporation by 13.6% during the 2nd quarter. First Personal Financial Services now owns 1,636 shares of the oil and gas company’s stock worth $110,000 after acquiring an additional 196 shares in the last quarter. Guardian Life Insurance Co. of America raised its stake in Valero Energy Corporation by 0.6% during the 1st quarter. Guardian Life Insurance Co. of America now owns 1,746 shares of the oil and gas company’s stock worth $116,000 after acquiring an additional 11 shares in the last quarter. Thompson Davis & CO. Inc. acquired a new stake in Valero Energy Corporation during the 1st quarter worth $127,000. Finally, Ffcm LLC raised its stake in Valero Energy Corporation by 189.4% during the 2nd quarter. Ffcm LLC now owns 1,881 shares of the oil and gas company’s stock worth $128,000 after acquiring an additional 1,231 shares in the last quarter. Hedge funds and other institutional investors own 80.69% of the company’s stock.
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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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