Valero Energy Co. (NYSE:VLO – Get Free Report)’s share price rose 2.8% on Friday . The company traded as high as $140.82 and last traded at $140.00. Approximately 438,873 shares changed hands during trading, a decline of 89% from the average daily volume of 4,075,172 shares. The stock had previously closed at $136.25.
Analyst Ratings Changes
VLO has been the subject of a number of recent analyst reports. Barclays increased their price target on Valero Energy from $139.00 to $142.00 and gave the stock an “overweight” rating in a report on Monday, August 7th. StockNews.com initiated coverage on Valero Energy in a report on Thursday, August 17th. They set a “buy” rating for the company. JPMorgan Chase & Co. decreased their price target on Valero Energy from $172.00 to $171.00 in a report on Friday, July 7th. Morgan Stanley reiterated an “overweight” rating and set a $160.00 price target on shares of Valero Energy in a report on Wednesday, July 19th. Finally, Wells Fargo & Company increased their price target on Valero Energy from $120.00 to $135.00 and gave the stock an “equal weight” rating in a report on Friday, July 28th. One research analyst has rated the stock with a sell rating, two have given a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Valero Energy currently has a consensus rating of “Moderate Buy” and an average price target of $152.13.
Valero Energy Price Performance
Valero Energy (NYSE:VLO – Get Free Report) last released its quarterly earnings results on Thursday, July 27th. The oil and gas company reported $5.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.08 by $0.32. The business had revenue of $34.51 billion during the quarter, compared to the consensus estimate of $34.37 billion. Valero Energy had a return on equity of 42.31% and a net margin of 6.96%. The company’s quarterly revenue was down 33.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $11.36 EPS. Equities research analysts expect that Valero Energy Co. will post 24.16 earnings per share for the current year.
Valero Energy Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Tuesday, September 5th. Shareholders of record on Thursday, August 3rd were given a dividend of $1.02 per share. The ex-dividend date was Wednesday, August 2nd. This represents a $4.08 annualized dividend and a dividend yield of 2.87%. Valero Energy’s dividend payout ratio is currently 14.05%.
Insiders Place Their Bets
In other Valero Energy news, Director Joseph W. Gorder sold 75,580 shares of Valero Energy stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $135.99, for a total transaction of $10,278,124.20. Following the transaction, the director now owns 621,872 shares of the company’s stock, valued at approximately $84,568,373.28. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.04% of the company’s stock.
Hedge Funds Weigh In On Valero Energy
Hedge funds have recently modified their holdings of the company. Walkner Condon Financial Advisors LLC bought a new stake in shares of Valero Energy in the 1st quarter worth approximately $216,000. Spire Wealth Management raised its holdings in shares of Valero Energy by 64.7% in the 1st quarter. Spire Wealth Management now owns 2,785 shares of the oil and gas company’s stock worth $389,000 after purchasing an additional 1,094 shares during the period. PFG Investments LLC bought a new stake in shares of Valero Energy in the 1st quarter worth approximately $318,000. Nordea Investment Management AB raised its holdings in shares of Valero Energy by 5.4% in the 1st quarter. Nordea Investment Management AB now owns 469,536 shares of the oil and gas company’s stock worth $64,186,000 after purchasing an additional 23,915 shares during the period. Finally, Quantinno Capital Management LP raised its holdings in shares of Valero Energy by 126.4% in the 4th quarter. Quantinno Capital Management LP now owns 11,756 shares of the oil and gas company’s stock worth $1,491,000 after purchasing an additional 6,564 shares during the period. Institutional investors own 77.07% of the company’s stock.
About Valero Energy
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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