Bank of America upgraded shares of Valero Energy (NYSE:VLO – Free Report) from a neutral rating to a buy rating in a report released on Friday, MarketBeat.com reports. They currently have $210.00 price target on the oil and gas company’s stock, up from their previous price target of $156.00.
Several other research analysts have also recently weighed in on the stock. Citigroup assumed coverage on shares of Valero Energy in a research report on Wednesday, January 24th. They issued a buy rating on the stock. Raymond James upped their target price on shares of Valero Energy from $154.00 to $155.00 and gave the stock a strong-buy rating in a research report on Friday, January 26th. Finally, Barclays raised their price target on Valero Energy from $146.00 to $149.00 and gave the company an overweight rating in a research report on Monday, January 29th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average target price of $155.83.
Read Our Latest Research Report on Valero Energy
Valero Energy Stock Up 2.7 %
Shares of NYSE:VLO opened at $163.76 on Friday. The firm has a fifty day moving average price of $139.38 and a two-hundred day moving average price of $133.83. The company has a market cap of $54.45 billion, a price-to-earnings ratio of 6.62, a PEG ratio of 1.72 and a beta of 1.53. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.56 and a quick ratio of 1.11. Valero Energy has a one year low of $104.18 and a one year high of $166.10.
Valero Energy (NYSE:VLO – Get Free Report) last posted its quarterly earnings data on Thursday, January 25th. The oil and gas company reported $3.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.95 by $0.60. The company had revenue of $35.41 billion during the quarter, compared to analyst estimates of $34.76 billion. Valero Energy had a return on equity of 31.62% and a net margin of 6.10%. The firm’s quarterly revenue was down 15.2% on a year-over-year basis. During the same quarter last year, the company earned $8.45 earnings per share. Analysts anticipate that Valero Energy will post 15.34 EPS for the current fiscal year.
Valero Energy Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, March 4th. Stockholders of record on Thursday, February 1st were issued a $1.07 dividend. This is a boost from Valero Energy’s previous quarterly dividend of $1.02. The ex-dividend date was Wednesday, January 31st. This represents a $4.28 annualized dividend and a dividend yield of 2.61%. Valero Energy’s dividend payout ratio (DPR) is currently 17.31%.
Hedge Funds Weigh In On Valero Energy
A number of hedge funds have recently modified their holdings of the company. Blair William & Co. IL raised its position in Valero Energy by 1.9% during the 1st quarter. Blair William & Co. IL now owns 33,427 shares of the oil and gas company’s stock valued at $3,394,000 after purchasing an additional 632 shares during the last quarter. Sei Investments Co. lifted its stake in Valero Energy by 21.7% in the first quarter. Sei Investments Co. now owns 100,006 shares of the oil and gas company’s stock worth $10,163,000 after acquiring an additional 17,844 shares during the period. Canada Pension Plan Investment Board boosted its holdings in Valero Energy by 12.5% in the first quarter. Canada Pension Plan Investment Board now owns 60,730 shares of the oil and gas company’s stock valued at $6,167,000 after acquiring an additional 6,735 shares in the last quarter. Prudential PLC purchased a new position in Valero Energy during the 1st quarter valued at $1,253,000. Finally, Moors & Cabot Inc. raised its holdings in Valero Energy by 21.0% in the 1st quarter. Moors & Cabot Inc. now owns 6,780 shares of the oil and gas company’s stock worth $688,000 after purchasing an additional 1,179 shares in the last quarter. Hedge funds and other institutional investors own 77.07% of the company’s stock.
Valero Energy Company Profile
Valero Energy Corporation manufactures, markets, and sells transportation fuels and petrochemical products in the United States, Canada, the United Kingdom, Ireland, Latin America, and internationally. It operates through three segments: Refining, Renewable Diesel, and Ethanol. The company produces California Reformulated Gasoline Blendstock for Oxygenate Blending and Conventional Blendstock for Oxygenate Blending gasolines, CARB diesel, diesel, jet fuel, and asphalt; aromatics; and sulfur crude oils.
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Source: defenseworld.net
