Valero Energy Corporation (NYSE:VLO) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Valero Energy Corporation (NYSE:VLO) have earned an average rating of “Moderate Buy” from the twenty research firms that are covering the firm, Marketbeat Ratings reports. Nine analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $183.3333.

A number of research analysts have commented on the company. Barclays upped their price target on Valero Energy from $169.00 to $184.00 and gave the company an “overweight” rating in a research report on Monday, November 17th. Morgan Stanley boosted their price objective on shares of Valero Energy from $175.00 to $180.00 and gave the company an “equal weight” rating in a research report on Tuesday. Piper Sandler dropped their target price on shares of Valero Energy from $223.00 to $217.00 and set an “overweight” rating for the company in a research report on Thursday, January 8th. Zacks Research lowered shares of Valero Energy from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 20th. Finally, Jefferies Financial Group raised their price objective on shares of Valero Energy from $181.00 to $194.00 and gave the stock a “buy” rating in a report on Friday, October 10th.

Insiders Place Their Bets

In other Valero Energy news, CFO Jason W. Fraser sold 9,933 shares of the stock in a transaction on Friday, November 21st. The stock was sold at an average price of $174.02, for a total value of $1,728,540.66. Following the completion of the transaction, the chief financial officer owned 134,196 shares in the company, valued at approximately $23,352,787.92. This represents a 6.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.37% of the stock is currently owned by insiders.

Institutional Trading of Valero Energy

A number of hedge funds and other institutional investors have recently modified their holdings of VLO. Charles Schwab Investment Management Inc. boosted its stake in Valero Energy by 2.5% during the second quarter. Charles Schwab Investment Management Inc. now owns 11,724,707 shares of the oil and gas company’s stock worth $1,576,035,000 after acquiring an additional 286,942 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Valero Energy by 16.7% during the second quarter. Geode Capital Management LLC now owns 8,141,511 shares of the oil and gas company’s stock valued at $1,089,897,000 after purchasing an additional 1,164,217 shares during the last quarter. Norges Bank bought a new stake in shares of Valero Energy in the 2nd quarter worth approximately $827,390,000. Franklin Resources Inc. grew its stake in shares of Valero Energy by 5.0% in the 3rd quarter. Franklin Resources Inc. now owns 5,273,517 shares of the oil and gas company’s stock worth $897,869,000 after buying an additional 249,195 shares during the last quarter. Finally, Barclays PLC increased its position in Valero Energy by 5.3% during the 3rd quarter. Barclays PLC now owns 4,143,672 shares of the oil and gas company’s stock valued at $705,502,000 after buying an additional 209,597 shares in the last quarter. 78.69% of the stock is owned by hedge funds and other institutional investors.

Valero Energy Price Performance

VLO stock opened at $184.41 on Friday. The stock has a market capitalization of $56.25 billion, a price-to-earnings ratio of 38.50, a PEG ratio of 1.08 and a beta of 0.77. The firm’s 50-day moving average price is $174.85 and its two-hundred day moving average price is $163.26. The company has a current ratio of 1.60, a quick ratio of 1.09 and a debt-to-equity ratio of 0.36. Valero Energy has a 12-month low of $99.00 and a 12-month high of $194.35.

Valero Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 9th. Stockholders of record on Thursday, February 5th will be paid a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date is Thursday, February 5th. This is a boost from Valero Energy’s previous quarterly dividend of $1.13. Valero Energy’s dividend payout ratio (DPR) is 94.36%.

Valero Energy Company Profile

Valero Energy Corporation is a San Antonio, Texas–based integrated downstream energy company that manufactures and markets transportation fuels, petrochemical feedstocks and other industrial products. The company’s operations focus on refining crude oil into finished fuels such as gasoline, diesel and jet fuel, as well as producing asphalt and other refined product streams for commercial and industrial customers.

In addition to refining, Valero has significant operations in renewable fuels, including the production of ethanol and other biofuels, and it manages an extensive logistics network of pipelines, terminals, rail and marine assets to move feedstocks and finished products.