Valero Energy Corporation (NYSE:VLO) Sees Large Growth in Short Interest

Valero Energy Corporation (NYSE:VLO) was the target of a large increase in short interest during the month of February. As of February 27th, there was short interest totaling 13,423,416 shares, an increase of 14.5% from the February 12th total of 11,723,504 shares. Approximately 4.5% of the shares of the company are short sold. Based on an average daily volume of 2,214,917 shares, the short-interest ratio is currently 6.1 days. Based on an average daily volume of 2,214,917 shares, the short-interest ratio is currently 6.1 days. Approximately 4.5% of the shares of the company are short sold.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Zacks Research lowered shares of Valero Energy from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 20th. UBS Group reiterated a “buy” rating on shares of Valero Energy in a research report on Tuesday, January 6th. Bank of America restated a “neutral” rating and issued a $195.00 target price (down from $198.00) on shares of Valero Energy in a research report on Thursday, December 11th. Mizuho reaffirmed a “neutral” rating and set a $192.00 target price (up from $190.00) on shares of Valero Energy in a research note on Friday, December 12th. Finally, Wall Street Zen upgraded Valero Energy from a “hold” rating to a “buy” rating in a research report on Saturday, February 7th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and ten have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $193.20.

Valero Energy Price Performance

Shares of NYSE VLO traded up $3.47 during midday trading on Tuesday, reaching $236.04. The company’s stock had a trading volume of 2,498,112 shares, compared to its average volume of 3,617,049. Valero Energy has a one year low of $99.00 and a one year high of $240.27. The company has a market cap of $70.58 billion, a price-to-earnings ratio of 30.89, a price-to-earnings-growth ratio of 1.18 and a beta of 0.70. The company has a 50 day moving average price of $198.88 and a 200 day moving average price of $178.59. The company has a current ratio of 1.64, a quick ratio of 1.11 and a debt-to-equity ratio of 0.36.

Valero Energy (NYSE:VLO) last announced its earnings results on Thursday, January 29th. The oil and gas company reported $3.82 EPS for the quarter, beating the consensus estimate of $3.27 by $0.55. The business had revenue of $30.37 billion during the quarter, compared to the consensus estimate of $28.20 billion. Valero Energy had a return on equity of 12.35% and a net margin of 1.91%.Valero Energy’s revenue was down 1.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.64 earnings per share. On average, equities research analysts expect that Valero Energy will post 7.92 EPS for the current year.

Valero Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 9th. Investors of record on Thursday, February 5th were paid a $1.20 dividend. The ex-dividend date of this dividend was Thursday, February 5th. This represents a $4.80 annualized dividend and a yield of 2.0%. This is an increase from Valero Energy’s previous quarterly dividend of $1.13. Valero Energy’s dividend payout ratio (DPR) is currently 62.83%.

Insider Activity

In related news, SVP Eric A. Fisher sold 400 shares of Valero Energy stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $238.60, for a total value of $95,440.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.04% of the company’s stock.

Institutional Trading of Valero Energy

A number of hedge funds have recently made changes to their positions in VLO. Rockefeller Capital Management L.P. increased its stake in shares of Valero Energy by 7.8% during the 4th quarter. Rockefeller Capital Management L.P. now owns 104,198 shares of the oil and gas company’s stock worth $16,963,000 after purchasing an additional 7,580 shares during the last quarter. World Investment Advisors boosted its holdings in Valero Energy by 32.4% in the fourth quarter. World Investment Advisors now owns 6,188 shares of the oil and gas company’s stock worth $1,007,000 after purchasing an additional 1,514 shares in the last quarter. Larry Mathis Financial Planning LLC bought a new stake in Valero Energy in the fourth quarter worth $314,000. Corient Private Wealth LLC increased its position in Valero Energy by 5.5% during the fourth quarter. Corient Private Wealth LLC now owns 235,035 shares of the oil and gas company’s stock worth $38,264,000 after buying an additional 12,295 shares during the last quarter. Finally, Hsbc Holdings PLC increased its position in Valero Energy by 30.1% during the fourth quarter. Hsbc Holdings PLC now owns 685,506 shares of the oil and gas company’s stock worth $111,543,000 after buying an additional 158,470 shares during the last quarter. 78.69% of the stock is owned by hedge funds and other institutional investors.

About Valero Energy

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.