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

Valero Energy Corporation (NYSE:VLO) shares reached a new 52-week high during trading on Monday after UBS Group raised their price target on the stock from $165.00 to $183.00. UBS Group currently has a buy rating on the stock. Valero Energy traded as high as $166.01 and last traded at $166.41, with a volume of 465668 shares. The stock had previously closed at $162.62.

A number of other analysts have also recently commented on the company. Piper Sandler lifted their target price on Valero Energy from $171.00 to $200.00 and gave the stock an “overweight” rating in a research report on Thursday, September 11th. Citigroup cut Valero Energy from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $134.00 to $150.00 in a research report on Wednesday, July 16th. Wells Fargo & Company raised their price target on Valero Energy from $151.00 to $168.00 and gave the stock an “overweight” rating in a report on Wednesday, July 9th. TD Cowen lowered Valero Energy from a “buy” rating to a “hold” rating and raised their price target for the stock from $118.00 to $140.00 in a report on Tuesday, July 22nd. Finally, Raymond James Financial raised their price target on Valero Energy from $170.00 to $177.00 and gave the stock a “strong-buy” rating in a report on Tuesday, September 9th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Valero Energy has an average rating of “Moderate Buy” and an average target price of $165.00.

Institutional Investors Weigh In On Valero Energy

Institutional investors have recently added to or reduced their stakes in the business. Hoey Investments Inc. purchased a new stake in Valero Energy in the 2nd quarter valued at approximately $26,000. Wayfinding Financial LLC purchased a new stake in Valero Energy in the 1st quarter valued at approximately $26,000. GFG Capital LLC purchased a new stake in Valero Energy in the 2nd quarter valued at approximately $27,000. Hazlett Burt & Watson Inc. boosted its holdings in Valero Energy by 156.6% in the 1st quarter. Hazlett Burt & Watson Inc. now owns 213 shares of the oil and gas company’s stock valued at $28,000 after purchasing an additional 130 shares in the last quarter. Finally, Ameriflex Group Inc. purchased a new stake in Valero Energy in the 4th quarter valued at approximately $29,000. Hedge funds and other institutional investors own 78.69% of the company’s stock.

Valero Energy Price Performance

The stock has a fifty day simple moving average of $147.23 and a two-hundred day simple moving average of $134.67. The company has a market cap of $52.93 billion, a PE ratio of 71.00, a price-to-earnings-growth ratio of 1.80 and a beta of 1.10. The company has a current ratio of 1.62, a quick ratio of 1.11 and a debt-to-equity ratio of 0.38.

Valero Energy (NYSE:VLO) last announced its quarterly earnings data on Thursday, July 24th. The oil and gas company reported $2.28 earnings per share for the quarter, beating analysts’ consensus estimates of $1.66 by $0.62. Valero Energy had a return on equity of 5.76% and a net margin of 0.62%.The company had revenue of $29.89 billion for the quarter, compared to analyst estimates of $27 billion. During the same quarter in the previous year, the company earned $2.71 EPS. The firm’s revenue for the quarter was down 13.3% compared to the same quarter last year. On average, equities analysts predict that Valero Energy Corporation will post 7.92 EPS for the current fiscal year.

Valero Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Thursday, July 31st were paid a dividend of $1.13 per share. The ex-dividend date of this dividend was Thursday, July 31st. This represents a $4.52 annualized dividend and a dividend yield of 2.7%. Valero Energy’s payout ratio is 188.33%.

About Valero Energy

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.