Valero Energy (NYSE:VLO) Raised to Buy at StockNews.com

StockNews.com upgraded shares of Valero Energy (NYSE:VLO) from a hold rating to a buy rating in a research report report published on Tuesday.

A number of other equities analysts have also weighed in on VLO. Bank of America upgraded Valero Energy from a neutral rating to a buy rating and increased their price target for the company from $156.00 to $210.00 in a research report on Friday, March 15th. Wells Fargo & Company dropped their target price on shares of Valero Energy from $184.00 to $179.00 and set an equal weight rating on the stock in a research report on Thursday, June 6th. Scotiabank upped their price target on shares of Valero Energy from $138.00 to $165.00 and gave the company a sector outperform rating in a research report on Thursday, April 11th. Citigroup lifted their price objective on shares of Valero Energy from $160.00 to $192.00 and gave the stock a buy rating in a research report on Thursday, April 18th. Finally, Piper Sandler decreased their target price on Valero Energy from $187.00 to $169.00 and set an overweight rating for the company in a research report on Friday, June 14th. One research analyst has rated the stock with a sell rating, four have given a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus price target of $170.07.

Valero Energy Stock Performance

NYSE:VLO opened at $147.92 on Tuesday. The company has a 50-day moving average of $155.13 and a 200-day moving average of $151.63. The firm has a market cap of $48.37 billion, a price-to-earnings ratio of 7.33, a price-to-earnings-growth ratio of 1.57 and a beta of 1.42. The company has a current ratio of 1.59, a quick ratio of 1.10 and a debt-to-equity ratio of 0.35. Valero Energy has a twelve month low of $112.67 and a twelve month high of $184.79.

Valero Energy (NYSE:VLO) last issued its earnings results on Thursday, April 25th. The oil and gas company reported $3.82 earnings per share for the quarter, topping analysts’ consensus estimates of $3.18 by $0.64. The firm had revenue of $31.76 billion during the quarter, compared to analysts’ expectations of $32.02 billion. Valero Energy had a net margin of 5.01% and a return on equity of 24.82%. The firm’s revenue for the quarter was down 12.8% compared to the same quarter last year. During the same period last year, the firm posted $8.27 earnings per share. Analysts forecast that Valero Energy will post 15.34 earnings per share for the current fiscal year.

Valero Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Thursday, May 30th were paid a $1.07 dividend. The ex-dividend date was Thursday, May 30th. This represents a $4.28 annualized dividend and a dividend yield of 2.89%. Valero Energy’s dividend payout ratio is presently 21.20%.

Insider Buying and Selling

In other news, Director Kimberly S. Greene sold 720 shares of the business’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $158.12, for a total value of $113,846.40. Following the transaction, the director now directly owns 13,314 shares of the company’s stock, valued at approximately $2,105,209.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.04% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Valero Energy

A number of hedge funds have recently added to or reduced their stakes in the stock. BKM Wealth Management LLC bought a new stake in shares of Valero Energy during the fourth quarter valued at approximately $26,000. Lynx Investment Advisory acquired a new stake in shares of Valero Energy in the 2nd quarter valued at $29,000. Rise Advisors LLC acquired a new stake in shares of Valero Energy in the 1st quarter valued at $33,000. Pathway Financial Advisers LLC acquired a new position in shares of Valero Energy during the first quarter valued at $33,000. Finally, Wetzel Investment Advisors Inc. acquired a new position in shares of Valero Energy during the fourth quarter valued at $36,000. Institutional investors own 78.69% of the company’s stock.

About Valero Energy

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.