Bank of America upgraded shares of Valero Energy (NYSE:VLO – Free Report) from a neutral rating to a buy rating in a report issued on Friday morning, MarketBeat Ratings reports. The firm currently has $210.00 target price on the oil and gas company’s stock, up from their prior target price of $156.00.
VLO has been the subject of a number of other reports. Citigroup assumed coverage on Valero Energy in a research note on Wednesday, January 24th. They issued a buy rating for the company. Raymond James lifted their price target on Valero Energy from $154.00 to $155.00 and gave the company a strong-buy rating in a research note on Friday, January 26th. Finally, Barclays boosted their price objective on Valero Energy from $146.00 to $149.00 and gave the stock an overweight rating in a research report on Monday, January 29th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average price target of $155.83.
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Valero Energy Price Performance
Shares of VLO stock traded up $4.37 during trading hours on Friday, hitting $163.76. 9,132,857 shares of the company’s stock were exchanged, compared to its average volume of 3,470,407. The stock’s 50-day moving average is $139.38 and its 200-day moving average is $133.83. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.56 and a quick ratio of 1.11. The stock has a market cap of $54.45 billion, a price-to-earnings ratio of 6.62, a price-to-earnings-growth ratio of 1.72 and a beta of 1.53. Valero Energy has a 52 week low of $104.18 and a 52 week high of $166.10.
Valero Energy (NYSE:VLO – Get Free Report) last released its earnings results on Thursday, January 25th. The oil and gas company reported $3.55 earnings per share for the quarter, beating the consensus estimate of $2.95 by $0.60. The firm had revenue of $35.41 billion for 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 company’s quarterly revenue was down 15.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $8.45 earnings per share. As a group, research analysts forecast that Valero Energy will post 15.34 EPS for the current year.
Valero Energy Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, March 4th. Shareholders of record on Thursday, February 1st were paid a $1.07 dividend. The ex-dividend date was Wednesday, January 31st. This represents a $4.28 annualized dividend and a yield of 2.61%. This is an increase from Valero Energy’s previous quarterly dividend of $1.02. Valero Energy’s dividend payout ratio (DPR) is presently 17.31%.
Hedge Funds Weigh In On Valero Energy
Several institutional investors have recently bought and sold shares of the business. BKM Wealth Management LLC purchased a new stake in shares of Valero Energy in the 4th quarter valued at approximately $26,000. Live Oak Investment Partners purchased a new stake in shares of Valero Energy in the 4th quarter valued at approximately $26,000. Indiana Trust & Investment Management CO purchased a new stake in shares of Valero Energy in the 3rd quarter valued at approximately $28,000. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in shares of Valero Energy in the 3rd quarter valued at approximately $28,000. Finally, Quarry LP grew its position in shares of Valero Energy by 1,676.9% in the 1st quarter. Quarry LP now owns 231 shares of the oil and gas company’s stock valued at $32,000 after buying an additional 218 shares during the last quarter. 77.07% of the stock is owned by hedge funds and other institutional investors.
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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