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

Shares of Valero Energy Corporation (NYSE:VLO) hit a new 52-week high during trading on Thursday . The stock traded as high as $236.30 and last traded at $237.0180, with a volume of 786523 shares traded. The stock had previously closed at $231.05.

Wall Street Analyst Weigh In

Several research analysts have weighed in on VLO shares. Argus upgraded shares of Valero Energy to a “hold” rating in a report on Monday, February 2nd. Mizuho reiterated a “neutral” rating and issued a $192.00 target price (up from $190.00) on shares of Valero Energy in a report on Friday, December 12th. UBS Group restated a “buy” rating on shares of Valero Energy in a research note on Tuesday, January 6th. Bank of America reissued a “neutral” rating and issued a $195.00 price target (down from $198.00) on shares of Valero Energy in a report on Thursday, December 11th. Finally, Piper Sandler boosted their target price on shares of Valero Energy from $217.00 to $220.00 and gave the company an “overweight” rating in a research note on Friday, January 30th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $187.67.

Valero Energy Price Performance

The company has a quick ratio of 1.11, a current ratio of 1.64 and a debt-to-equity ratio of 0.36. The firm’s 50-day moving average is $195.07 and its 200-day moving average is $176.62. The company has a market capitalization of $70.59 billion, a PE ratio of 30.91, a price-to-earnings-growth ratio of 1.11 and a beta of 0.70.

Valero Energy (NYSE:VLO) last posted its quarterly earnings results on Thursday, January 29th. The oil and gas company reported $3.82 earnings per share for the quarter, topping the consensus estimate of $3.27 by $0.55. Valero Energy had a net margin of 1.91% and a return on equity of 12.35%. The business had revenue of $30.37 billion during the quarter, compared to the consensus estimate of $28.20 billion. During the same period in the previous year, the firm posted $0.64 earnings per share. The firm’s revenue for the quarter was down 1.2% on a year-over-year basis. Equities analysts predict that Valero Energy Corporation will post 7.92 earnings per share for the current fiscal year.

Valero Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 9th. Shareholders of record on Thursday, February 5th were given a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend was Thursday, February 5th. This is a positive change from Valero Energy’s previous quarterly dividend of $1.13. Valero Energy’s dividend payout ratio is currently 62.83%.

Institutional Investors Weigh In On Valero Energy

A number of large investors have recently made changes to their positions in VLO. Highline Wealth Partners LLC raised its holdings in shares of Valero Energy by 70.2% during the third quarter. Highline Wealth Partners LLC now owns 160 shares of the oil and gas company’s stock valued at $27,000 after acquiring an additional 66 shares in the last quarter. JPL Wealth Management LLC bought a new stake in Valero Energy in the third quarter valued at $27,000. Torren Management LLC purchased a new position in Valero Energy during the 4th quarter valued at $30,000. AXS Investments LLC purchased a new position in Valero Energy during the 4th quarter valued at $32,000. Finally, University of Texas Texas AM Investment Management Co. raised its holdings in Valero Energy by 157.0% in the 4th quarter. University of Texas Texas AM Investment Management Co. now owns 203 shares of the oil and gas company’s stock worth $33,000 after purchasing an additional 124 shares in the last quarter. 78.69% of the stock is currently owned by institutional investors.

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.