Valero Energy (NYSE:VLO) Stock Rating Upgraded by Bank of America

Bank of America upgraded shares of Valero Energy (NYSE:VLO) from a neutral rating to a buy rating in a research note published on Wednesday, Marketbeat.com reports. Bank of America currently has $179.00 price objective on the oil and gas company’s stock, up from their previous price objective of $152.00.

Other equities analysts have also recently issued research reports about the company. Wolfe Research cut Valero Energy from an “outperform” rating to a “peer perform” rating in a report on Monday, July 14th. UBS Group increased their target price on Valero Energy from $164.00 to $165.00 and gave the stock a “buy” rating in a report on Friday, July 25th. TD Cowen cut Valero Energy from a “buy” rating to a “hold” rating and increased their target price for the stock from $118.00 to $140.00 in a report on Tuesday, July 22nd. Morgan Stanley increased their target price on Valero Energy from $145.00 to $160.00 and gave the stock an “overweight” rating in a report on Wednesday, July 16th. Finally, Wells Fargo & Company increased their target price on Valero Energy from $151.00 to $168.00 and gave the stock an “overweight” rating in a report on Wednesday, July 9th. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $156.40.

Valero Energy Stock Performance

Shares of Valero Energy stock opened at $156.65 on Wednesday. The company has a market capitalization of $48.66 billion, a PE ratio of 65.27, a PEG ratio of 1.84 and a beta of 1.10. Valero Energy has a 12 month low of $99.00 and a 12 month high of $159.26. The company has a current ratio of 1.62, a quick ratio of 1.11 and a debt-to-equity ratio of 0.38. The stock’s fifty day simple moving average is $143.44 and its 200 day simple moving average is $132.10.

Valero Energy (NYSE:VLO) last issued its quarterly earnings data on Thursday, July 24th. The oil and gas company reported $2.28 EPS for the quarter, topping the consensus estimate of $1.66 by $0.62. The business had revenue of $29.89 billion for the quarter, compared to the consensus estimate of $27 billion. Valero Energy had a return on equity of 5.76% and a net margin of 0.62%.The firm’s revenue was down 13.3% compared to the same quarter last year. During the same quarter last year, the business posted $2.71 EPS. On average, research analysts predict that Valero Energy will post 7.92 EPS for the current year.

Valero Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Thursday, July 31st were issued a $1.13 dividend. The ex-dividend date was Thursday, July 31st. This represents a $4.52 annualized dividend and a dividend yield of 2.9%. Valero Energy’s dividend payout ratio (DPR) is presently 188.33%.

Hedge Funds Weigh In On Valero Energy

Several hedge funds have recently modified their holdings of the stock. Hoey Investments Inc. bought a new position in Valero Energy during the second quarter worth about $26,000. Wayfinding Financial LLC acquired a new stake in Valero Energy during the first quarter worth approximately $26,000. GFG Capital LLC acquired a new stake in Valero Energy during the second quarter worth approximately $27,000. Hazlett Burt & Watson Inc. lifted its position in Valero Energy by 156.6% during the first quarter. Hazlett Burt & Watson Inc. now owns 213 shares of the oil and gas company’s stock worth $28,000 after acquiring an additional 130 shares during the last quarter. Finally, Ameriflex Group Inc. acquired a new stake in Valero Energy during the fourth quarter worth approximately $29,000. Institutional investors own 78.69% of the company’s stock.

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.