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

Valero Energy Corporation (NYSE:VLO) shares hit a new 52-week high on Monday . The company traded as high as $258.60 and last traded at $259.7360, with a volume of 841779 shares changing hands. The stock had previously closed at $250.74.

Wall Street Analyst Weigh In

VLO has been the topic of a number of research analyst reports. Piper Sandler raised their price objective on shares of Valero Energy from $236.00 to $263.00 and gave the stock an “overweight” rating in a report on Wednesday, April 8th. Wells Fargo & Company boosted their price target on Valero Energy from $220.00 to $292.00 and gave the company an “overweight” rating in a report on Tuesday, March 31st. Citigroup upped their price objective on Valero Energy from $246.00 to $259.00 and gave the stock a “neutral” rating in a research report on Friday, May 1st. Zacks Research upgraded Valero Energy from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 21st. Finally, BMO Capital Markets lifted their target price on Valero Energy from $230.00 to $270.00 and gave the company an “outperform” rating in a research report on Monday, April 6th. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $237.94.

Valero Energy Stock Down 0.5%

The firm’s 50 day simple moving average is $240.34 and its 200-day simple moving average is $203.15. The company has a current ratio of 1.58, a quick ratio of 1.15 and a debt-to-equity ratio of 0.39. The stock has a market capitalization of $77.61 billion, a price-to-earnings ratio of 18.96, a price-to-earnings-growth ratio of 0.36 and a beta of 0.58.

Valero Energy (NYSE:VLO) last announced its quarterly earnings data on Thursday, April 30th. The oil and gas company reported $4.22 earnings per share for the quarter, beating the consensus estimate of $3.16 by $1.06. Valero Energy had a return on equity of 15.94% and a net margin of 3.37%.The company had revenue of $32.38 billion during the quarter, compared to analysts’ expectations of $31.38 billion. During the same quarter last year, the company earned $0.89 EPS. Valero Energy’s revenue for the quarter was up 7.0% compared to the same quarter last year. Equities analysts expect that Valero Energy Corporation will post 28.26 earnings per share for the current fiscal year.

Valero Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 23rd. Shareholders of record on Thursday, May 21st will be given a dividend of $1.20 per share. The ex-dividend date of this dividend is Thursday, May 21st. This represents a $4.80 annualized dividend and a dividend yield of 1.8%. Valero Energy’s payout ratio is 34.88%.

Insider Activity at Valero Energy

In other news, SVP Eric A. Fisher sold 400 shares of the stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $238.60, for a total value of $95,440.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.36% of the company’s stock.

Institutional Trading of Valero Energy

Large investors have recently added to or reduced their stakes in the company. Woodline Partners LP increased its position in Valero Energy by 40.7% during the first quarter. Woodline Partners LP now owns 26,747 shares of the oil and gas company’s stock worth $3,532,000 after buying an additional 7,735 shares during the last quarter. Sivia Capital Partners LLC increased its holdings in shares of Valero Energy by 13.0% during the 2nd quarter. Sivia Capital Partners LLC now owns 1,929 shares of the oil and gas company’s stock worth $259,000 after acquiring an additional 222 shares during the last quarter. Gamco Investors INC. ET AL bought a new stake in Valero Energy in the 2nd quarter valued at $528,000. Sei Investments Co. lifted its holdings in Valero Energy by 11.3% during the 2nd quarter. Sei Investments Co. now owns 269,043 shares of the oil and gas company’s stock valued at $36,165,000 after purchasing an additional 27,291 shares during the last quarter. Finally, Treasurer of the State of North Carolina boosted its position in Valero Energy by 0.9% during the second quarter. Treasurer of the State of North Carolina now owns 145,810 shares of the oil and gas company’s stock worth $19,600,000 after purchasing an additional 1,338 shares during the period. Institutional investors and hedge funds 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.