Valero Energy Co. (NYSE:VLO – Get Rating) was the recipient of a large decrease in short interest during the month of May. As of May 31st, there was short interest totalling 8,000,000 shares, a decrease of 21.0% from the May 15th total of 10,130,000 shares. Currently, 2.0% of the shares of the company are short sold. Based on an average daily volume of 4,870,000 shares, the days-to-cover ratio is currently 1.6 days.
In related news, COO R. Lane Riggs sold 17,767 shares of the company’s stock in a transaction on Friday, May 27th. The shares were sold at an average price of $131.53, for a total value of $2,336,893.51. Following the completion of the sale, the chief operating officer now owns 254,905 shares in the company, valued at approximately $33,527,654.65. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.04% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently modified their holdings of VLO. Exane Derivatives acquired a new stake in Valero Energy during the 1st quarter worth about $25,000. DB Wealth Management Group LLC acquired a new stake in Valero Energy during the 1st quarter worth about $27,000. Bromfield Sneider Wealth Advisors acquired a new stake in Valero Energy during the 1st quarter worth about $28,000. Riverview Trust Co acquired a new stake in Valero Energy during the 1st quarter worth about $29,000. Finally, Amplius Wealth Advisors LLC acquired a new stake in Valero Energy during the 4th quarter worth about $25,000. 77.56% of the stock is currently owned by hedge funds and other institutional investors.
Valero Energy (NYSE:VLO – Get Rating) last released its earnings results on Tuesday, April 26th. The oil and gas company reported $2.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.61 by $0.70. The firm had revenue of $38.54 billion for the quarter, compared to analyst estimates of $32.23 billion. Valero Energy had a return on equity of 13.69% and a net margin of 1.93%. Valero Energy’s revenue was up 85.2% compared to the same quarter last year. During the same period in the previous year, the company earned ($1.73) earnings per share. On average, sell-side analysts forecast that Valero Energy will post 16.68 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, June 7th. Investors of record on Thursday, May 12th were paid a $0.98 dividend. The ex-dividend date of this dividend was Wednesday, May 11th. This represents a $3.92 dividend on an annualized basis and a yield of 3.33%. Valero Energy’s dividend payout ratio is currently 63.33%.
A number of research firms have recently weighed in on VLO. Morgan Stanley upped their price target on shares of Valero Energy from $100.00 to $125.00 and gave the stock an “overweight” rating in a research note on Monday, April 18th. Raymond James increased their price objective on shares of Valero Energy from $105.00 to $117.00 and gave the company a “strong-buy” rating in a research note on Friday, April 8th. Barclays increased their price objective on shares of Valero Energy from $114.00 to $120.00 in a research note on Wednesday, April 27th. Cowen increased their price objective on shares of Valero Energy from $106.00 to $116.00 in a research note on Wednesday, April 27th. Finally, Citigroup increased their price objective on shares of Valero Energy from $94.00 to $120.00 and gave the company a “buy” rating in a research note on Tuesday, April 26th. Two research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $128.46.
Valero Energy Company Profile (Get Rating)
Valero Energy Corporation manufactures, markets, and sells transportation fuels and petrochemical products in the United States, Canada, the United Kingdom, Ireland, and internationally. The company operates through three segments: Refining, Renewable Diesel, and Ethanol. It produces conventional, premium, and reformulated gasolines; gasoline meeting the specifications of the California Air Resources Board (CARB); diesel fuels, and low-sulfur and ultra-low-sulfur diesel fuels; CARB diesel; other distillates; jet fuels; blendstocks; and asphalts, petrochemicals, lubricants, and other refined petroleum products, as well as sells lube oils and natural gas liquids.
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