Valero Energy (NYSE:VLO) Now Covered by Evercore ISI

Evercore ISI initiated coverage on shares of Valero Energy (NYSE:VLO) in a report issued on Wednesday morning, Marketbeat Ratings reports. The brokerage issued an in-line rating and a $135.00 price objective on the oil and gas company’s stock.

A number of other brokerages have also recently weighed in on VLO. JPMorgan Chase & Co. cut their price objective on shares of Valero Energy from $152.00 to $147.00 and set an “overweight” rating on the stock in a research note on Monday, April 28th. Barclays lifted their target price on Valero Energy from $140.00 to $141.00 and gave the company an “overweight” rating in a research note on Monday, May 12th. Raymond James Financial reduced their price target on Valero Energy from $165.00 to $155.00 and set a “strong-buy” rating for the company in a report on Wednesday, April 9th. Mizuho boosted their target price on Valero Energy from $158.00 to $166.00 and gave the stock an “outperform” rating in a report on Tuesday, May 13th. Finally, TD Cowen dropped their price target on Valero Energy from $121.00 to $118.00 and set a “buy” rating on the stock in a research report on Friday, April 25th. Three analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $150.88.

Valero Energy Stock Up 1.2%

VLO stock opened at $141.16 on Wednesday. The firm has a 50 day simple moving average of $125.11 and a 200-day simple moving average of $127.60. Valero Energy has a twelve month low of $99.00 and a twelve month high of $167.78. The company has a market capitalization of $44.21 billion, a P/E ratio of 49.88, a PEG ratio of 2.43 and a beta of 0.99. The company has a current ratio of 1.56, a quick ratio of 1.09 and a debt-to-equity ratio of 0.39.

Valero Energy (NYSE:VLO) last posted its earnings results on Thursday, April 24th. The oil and gas company reported $0.89 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.16 by ($0.27). The company had revenue of $28.76 billion during the quarter, compared to the consensus estimate of $28.54 billion. Valero Energy had a net margin of 0.72% and a return on equity of 6.30%. The business’s quarterly revenue was down 4.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.82 earnings per share. On average, equities research analysts predict that Valero Energy will post 7.92 earnings per share for the current fiscal year.

Valero Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Tuesday, May 20th were paid a dividend of $1.13 per share. This represents a $4.52 annualized dividend and a dividend yield of 3.20%. The ex-dividend date was Tuesday, May 20th. Valero Energy’s dividend payout ratio (DPR) is presently 159.72%.

Hedge Funds Weigh In On Valero Energy

Several large investors have recently made changes to their positions in the company. Voya Investment Management LLC lifted its stake in Valero Energy by 18.9% in the first quarter. Voya Investment Management LLC now owns 207,823 shares of the oil and gas company’s stock valued at $27,447,000 after buying an additional 33,003 shares during the period. Inspire Investing LLC grew its holdings in shares of Valero Energy by 12.4% during the first quarter. Inspire Investing LLC now owns 2,367 shares of the oil and gas company’s stock worth $313,000 after buying an additional 262 shares in the last quarter. Strs Ohio bought a new position in shares of Valero Energy during the first quarter worth about $15,994,000. Jacobi Capital Management LLC boosted its position in Valero Energy by 4.1% during the first quarter. Jacobi Capital Management LLC now owns 15,876 shares of the oil and gas company’s stock valued at $2,097,000 after purchasing an additional 624 shares during the last quarter. Finally, Acadian Asset Management LLC boosted its position in Valero Energy by 2.6% during the first quarter. Acadian Asset Management LLC now owns 103,364 shares of the oil and gas company’s stock valued at $13,644,000 after purchasing an additional 2,609 shares during the last quarter. Institutional investors and hedge funds own 78.69% of the company’s stock.

Valero Energy Company Profile

Valero Energy Corporation manufactures, markets, and sells petroleum-based and low-carbon liquid transportation fuels and petrochemical products in the United States, Canada, the United Kingdom, Ireland, Latin America, Mexico, Peru, and internationally. It operates through three segments: Refining, Renewable Diesel, and Ethanol.