Shares of Valero Energy Co. (NYSE:VLO – Get Rating) traded up 3% on Thursday after Wells Fargo & Company raised their price target on the stock from $130.00 to $131.00. Wells Fargo & Company currently has an overweight rating on the stock. Valero Energy traded as high as $108.99 and last traded at $108.69. 58,186 shares traded hands during trading, a decline of 98% from the average session volume of 3,836,096 shares. The stock had previously closed at $105.53.
Several other research analysts also recently commented on the company. Barclays increased their price objective on Valero Energy from $133.00 to $139.00 and gave the company an “overweight” rating in a research note on Tuesday, August 16th. BMO Capital Markets began coverage on Valero Energy in a research note on Monday, June 13th. They issued a “market perform” rating and a $155.00 price objective for the company. Cowen reduced their price objective on Valero Energy to $127.00 in a research note on Tuesday. Piper Sandler reduced their price objective on Valero Energy from $150.00 to $148.00 and set an “overweight” rating for the company in a research note on Monday, September 12th. Finally, StockNews.com raised Valero Energy from a “buy” rating to a “strong-buy” rating in a research note on Monday, September 5th. Two equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Valero Energy has a consensus rating of “Buy” and an average price target of $130.23.
Hedge Funds Weigh In On Valero Energy
A number of hedge funds have recently modified their holdings of VLO. Rockefeller Capital Management L.P. grew its holdings in shares of Valero Energy by 44.3% during the 4th quarter. Rockefeller Capital Management L.P. now owns 84,659 shares of the oil and gas company’s stock worth $6,357,000 after purchasing an additional 25,991 shares during the period. Nissay Asset Management Corp Japan ADV grew its holdings in shares of Valero Energy by 3.0% during the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 46,058 shares of the oil and gas company’s stock worth $3,459,000 after purchasing an additional 1,344 shares during the period. Banco de Sabadell S.A grew its holdings in shares of Valero Energy by 16.5% during the 4th quarter. Banco de Sabadell S.A now owns 18,885 shares of the oil and gas company’s stock worth $1,416,000 after purchasing an additional 2,670 shares during the period. Altavista Wealth Management Inc. boosted its holdings in Valero Energy by 4.6% during the 4th quarter. Altavista Wealth Management Inc. now owns 45,922 shares of the oil and gas company’s stock valued at $3,449,000 after acquiring an additional 2,031 shares during the period. Finally, Avaii Wealth Management LLC purchased a new position in Valero Energy during the 4th quarter valued at about $404,000. 79.78% of the stock is currently owned by hedge funds and other institutional investors.
Valero Energy Stock Up 2.0 %
Valero Energy (NYSE:VLO – Get Rating) last announced its earnings results on Thursday, July 28th. The oil and gas company reported $11.36 EPS for the quarter, beating analysts’ consensus estimates of $6.33 by $5.03. Valero Energy had a return on equity of 34.65% and a net margin of 4.54%. The company had revenue of $51.64 billion during the quarter, compared to analysts’ expectations of $40.73 billion. During the same period last year, the business posted $0.48 EPS. Valero Energy’s revenue for the quarter was up 86.1% on a year-over-year basis. Equities research analysts anticipate that Valero Energy Co. will post 27.64 EPS for the current year.
Valero Energy Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, September 1st. Shareholders of record on Thursday, August 4th were given a $0.98 dividend. This represents a $3.92 dividend on an annualized basis and a yield of 3.64%. The ex-dividend date of this dividend was Wednesday, August 3rd. Valero Energy’s dividend payout ratio is currently 22.57%.
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, 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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