Valero Energy (NYSE:VLO) Reaches New 12-Month High on Analyst Upgrade

Valero Energy Co. (NYSE:VLOGet Free Report) shares reached a new 52-week high on Monday after The Goldman Sachs Group raised their price target on the stock from $130.00 to $171.00. The Goldman Sachs Group currently has a sell rating on the stock. Valero Energy traded as high as $172.46 and last traded at $171.21, with a volume of 187898 shares traded. The stock had previously closed at $169.64.

VLO has been the topic of a number of other reports. Barclays lifted their target price on shares of Valero Energy from $146.00 to $149.00 and gave the stock an “overweight” rating in a research note on Monday, January 29th. Wells Fargo & Company lifted their target price on shares of Valero Energy from $138.00 to $171.00 and gave the stock an “equal weight” rating in a research note on Wednesday, March 20th. Bank of America raised shares of Valero Energy from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $156.00 to $210.00 in a research note on Friday, March 15th. Citigroup began coverage on shares of Valero Energy in a research note on Wednesday, January 24th. They issued a “buy” rating on the stock. Finally, Raymond James boosted their price target on shares of Valero Energy from $154.00 to $155.00 and gave the company a “strong-buy” rating in a research note on Friday, January 26th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $163.08.

Check Out Our Latest Analysis on Valero Energy

Hedge Funds Weigh In On Valero Energy

Large investors have recently made changes to their positions in the stock. Deutsche Bank AG increased its holdings in shares of Valero Energy by 5.8% in the 3rd quarter. Deutsche Bank AG now owns 1,005,346 shares of the oil and gas company’s stock valued at $142,468,000 after purchasing an additional 55,351 shares in the last quarter. Nordea Investment Management AB raised its position in Valero Energy by 3.0% during the fourth quarter. Nordea Investment Management AB now owns 645,726 shares of the oil and gas company’s stock worth $83,867,000 after acquiring an additional 18,575 shares during the last quarter. Public Sector Pension Investment Board lifted its holdings in shares of Valero Energy by 10.5% in the third quarter. Public Sector Pension Investment Board now owns 83,290 shares of the oil and gas company’s stock valued at $11,803,000 after purchasing an additional 7,910 shares in the last quarter. NatWest Group plc purchased a new position in shares of Valero Energy during the 4th quarter worth approximately $3,325,000. Finally, Bryn Mawr Capital Management LLC acquired a new position in shares of Valero Energy during the 3rd quarter worth approximately $773,000. Hedge funds and other institutional investors own 78.69% of the company’s stock.

Valero Energy Trading Down 0.7 %

The company has a current ratio of 1.56, a quick ratio of 1.11 and a debt-to-equity ratio of 0.35. The business has a 50 day moving average of $143.45 and a 200-day moving average of $135.12. The stock has a market cap of $56.02 billion, a PE ratio of 6.81, a price-to-earnings-growth ratio of 1.81 and a beta of 1.53.

Valero Energy (NYSE:VLOGet Free Report) last issued its quarterly 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 company had revenue of $35.41 billion during the quarter, compared to the consensus estimate of $34.76 billion. Valero Energy had a return on equity of 31.62% and a net margin of 6.10%. Valero Energy’s revenue was down 15.2% on a year-over-year basis. During the same period in the previous year, the firm posted $8.45 EPS. On average, analysts anticipate that Valero Energy Co. will post 15.66 EPS for the current year.

Valero Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 4th. Stockholders of record on Thursday, February 1st were issued a dividend of $1.07 per share. This represents a $4.28 dividend on an annualized basis and a dividend yield of 2.54%. This is an increase from Valero Energy’s previous quarterly dividend of $1.02. The ex-dividend date was Wednesday, January 31st. Valero Energy’s dividend payout ratio is presently 17.31%.

About Valero Energy

(Get Free Report)

Valero Energy Corporation manufactures, markets, and sells petroleum-based and low-carbon liquid transportation fuels and petrochemical products in the United States, Canada, the United Kingdom, Ireland, Latin America, Mexico, Peru, and internationally. It operates through three segments: Refining, Renewable Diesel, and Ethanol.

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