Valero Energy (NYSE:VLO) Sets New 12-Month High – Time to Buy?

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

Wall Street Analyst Weigh In

VLO has been the subject of a number of analyst reports. Piper Sandler increased their price target on Valero Energy from $329.00 to $435.00 and gave the company an “overweight” rating in a report on Thursday, September 3rd. Raymond James Financial raised their price target on shares of Valero Energy from $350.00 to $450.00 and gave the stock a “strong-buy” rating in a research report on Monday, September 14th. Mizuho lifted their price target on shares of Valero Energy from $289.00 to $300.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 4th. The Goldman Sachs Group upped their price target on shares of Valero Energy from $286.00 to $357.00 and gave the company a “buy” rating in a report on Wednesday, July 22nd. Finally, Barclays raised their price objective on shares of Valero Energy from $279.00 to $323.00 and gave the stock an “overweight” rating in a report on Friday, July 31st. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, seven have assigned a Hold rating and one has given a Sell 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 $325.69.

Valero Energy Stock Performance

The company has a current ratio of 1.64, a quick ratio of 1.23 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $117.95 billion, a price-to-earnings ratio of 17.02, a price-to-earnings-growth ratio of 0.28 and a beta of 0.57. The company has a 50-day moving average of $339.56 and a 200-day moving average of $278.77.

Valero Energy (NYSE:VLO) last released its quarterly earnings data on Thursday, July 30th. The oil and gas company reported $12.54 EPS for the quarter, topping analysts’ consensus estimates of $10.11 by $2.43. Valero Energy had a net margin of 5.17% and a return on equity of 26.74%. The firm had revenue of $44.48 billion during the quarter, compared to the consensus estimate of $39.47 billion. During the same quarter in the previous year, the company posted $2.28 earnings per share. The firm’s revenue was up 48.8% on a year-over-year basis. On average, equities research analysts forecast that Valero Energy Corporation will post 48.58 earnings per share for the current fiscal year.

Valero Energy Announces Dividend

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

Insiders Place Their Bets

In related news, SVP Eric Fisher sold 7,500 shares of Valero Energy stock in a transaction dated 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 sale, the senior vice president directly 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 document filed with the SEC, which is available through this hyperlink. 0.36% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Valero Energy

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

Valero Energy Company Profile

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.