Valero Energy (NYSE:VLO) Hits New 1-Year High After Analyst Upgrade

Shares of Valero Energy Corporation (NYSE:VLO) hit a new 52-week high during trading on Monday after TD Cowen raised their price target on the stock from $276.00 to $292.00. TD Cowen currently has a hold rating on the stock. Valero Energy traded as high as $269.00 and last traded at $267.1470, with a volume of 151027 shares changing hands. The stock had previously closed at $259.37.

Other research analysts have also issued reports about the company. Wall Street Zen upgraded Valero Energy from a “buy” rating to a “strong-buy” rating in a report on Saturday, April 4th. Mizuho upped their price target on Valero Energy from $222.00 to $289.00 and gave the stock a “neutral” rating in a report on Wednesday, May 27th. UBS Group reaffirmed a “buy” rating and issued a $280.00 price target on shares of Valero Energy in a research report on Thursday, June 11th. Piper Sandler lifted their price objective on Valero Energy from $236.00 to $263.00 and gave the company an “overweight” rating in a research note on Wednesday, April 8th. Finally, The Goldman Sachs Group boosted their price objective on Valero Energy from $203.00 to $237.00 and gave the stock a “buy” rating in a research report on Thursday, March 12th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $246.53.

Insiders Place Their Bets

In other Valero Energy news, SVP Eric A. Fisher sold 7,500 shares of the business’s stock in a transaction on Monday, June 29th. The shares were sold at an average price of $268.17, for a total value of $2,011,275.00. Following the transaction, the senior vice president directly owned 19,742 shares of the company’s stock, valued at approximately $5,294,212.14. The trade was a 27.53% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.36% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in VLO. Whipplewood Advisors LLC raised its holdings in Valero Energy by 3,400.0% during the first quarter. Whipplewood Advisors LLC now owns 105 shares of the oil and gas company’s stock worth $26,000 after purchasing an additional 102 shares in the last quarter. JPL Wealth Management LLC acquired a new stake in shares of Valero Energy during the 3rd quarter valued at approximately $27,000. Financial Life Planners purchased a new stake in shares of Valero Energy during the 1st quarter worth approximately $28,000. Valued Wealth Advisors LLC grew its holdings in shares of Valero Energy by 134.0% in the 1st quarter. Valued Wealth Advisors LLC now owns 117 shares of the oil and gas company’s stock worth $29,000 after acquiring an additional 67 shares during the period. Finally, Torren Management LLC purchased a new position in Valero Energy in the 4th quarter valued at approximately $30,000. 78.69% of the stock is currently owned by institutional investors and hedge funds.

Valero Energy Stock Performance

The company has a quick ratio of 1.15, a current ratio of 1.58 and a debt-to-equity ratio of 0.39. The stock has a market capitalization of $77.39 billion, a price-to-earnings ratio of 18.94, a PEG ratio of 0.38 and a beta of 0.55. The firm has a fifty day moving average of $247.50 and a 200-day moving average of $218.91.

Valero Energy (NYSE:VLO) last announced its quarterly earnings results on Thursday, April 30th. The oil and gas company reported $4.22 earnings per share for the quarter, beating analysts’ consensus estimates of $3.16 by $1.06. Valero Energy had a return on equity of 15.94% and a net margin of 3.37%.The business had revenue of $32.38 billion during the quarter, compared to analysts’ expectations of $31.38 billion. During the same quarter last year, the business posted $0.89 earnings per share. The business’s revenue for the quarter was up 7.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Valero Energy Corporation will post 27.45 EPS for the current year.

Valero Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 23rd. Shareholders of record on Thursday, May 21st were given a dividend of $1.20 per share. The ex-dividend date was Thursday, May 21st. This represents a $4.80 dividend on an annualized basis and a yield of 1.8%. Valero Energy’s payout ratio is presently 34.88%.

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.