Valero Energy (NYSE:VLO) Stock Price Down 1.8% – Here’s Why

Shares of Valero Energy Corporation (NYSE:VLO) dropped 1.8% during trading on Tuesday. The stock traded as low as $341.51 and last traded at $350.1690. Approximately 3,166,344 shares traded hands during mid-day trading, a decline of 4% from the average daily volume of 3,314,265 shares. The stock had previously closed at $356.75.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on VLO. Bank of America upped their price objective on Valero Energy from $395.00 to $414.00 and gave the stock a “neutral” rating in a research report on Friday, October 2nd. Citigroup lifted their target price on Valero Energy from $485.00 to $490.00 and gave the company a “neutral” rating in a report on Friday, October 23rd. Wells Fargo & Company boosted their target price on Valero Energy from $485.00 to $489.00 and gave the stock an “overweight” rating in a research note on Friday, October 23rd. JPMorgan Chase & Co. upped their price target on Valero Energy from $339.00 to $439.00 and gave the stock an “overweight” rating in a report on Thursday, October 8th. Finally, Weiss Ratings raised Valero Energy from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Thursday, October 29th. Three equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Valero Energy has a consensus rating of “Moderate Buy” and a consensus price target of $406.32.

Valero Energy Stock Up 3.1%

The firm’s fifty day simple moving average is $399.54 and its 200 day simple moving average is $292.16. The company has a current ratio of 1.72, a quick ratio of 1.33 and a debt-to-equity ratio of 0.32. The company has a market cap of $104.57 billion, a price-to-earnings ratio of 8.43, a PEG ratio of 0.18 and a beta of 0.58.

Valero Energy (NYSE:VLO) last announced its quarterly earnings data on Thursday, October 22nd. The oil and gas company reported $23.90 earnings per share for the quarter, beating analysts’ consensus estimates of $21.17 by $2.73. The business had revenue of $46.10 billion for the quarter, compared to analyst estimates of $42.71 billion. Valero Energy had a net margin of 8.44% and a return on equity of 45.90%. The company’s revenue was up 43.3% on a year-over-year basis. During the same period last year, the business earned $3.66 EPS. Sell-side analysts predict that Valero Energy Corporation will post 58.33 earnings per share for the current year.

Valero Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 21st. Shareholders of record on Tuesday, November 24th will be issued a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Tuesday, November 24th. Valero Energy’s payout ratio is 10.80%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in VLO. Moore Capital Management LP acquired a new stake in shares of Valero Energy during the second quarter worth about $13,193,000. QRG Capital Management Inc. boosted its position in shares of Valero Energy by 5.5% in the 2nd quarter. QRG Capital Management Inc. now owns 58,558 shares of the oil and gas company’s stock valued at $15,251,000 after purchasing an additional 3,037 shares during the period. QP Wealth Management LLC acquired a new stake in shares of Valero Energy in the 3rd quarter valued at about $1,423,000. Atlatl Advisers LLC purchased a new position in Valero Energy during the 3rd quarter worth approximately $10,206,000. Finally, Jennison Associates LLC grew its stake in Valero Energy by 377.1% during the 1st quarter. Jennison Associates LLC now owns 413,437 shares of the oil and gas company’s stock worth $102,152,000 after buying an additional 326,777 shares during the last quarter. 78.69% of the stock is owned by institutional investors and hedge funds.

Valero Energy Company Profile

Valero Energy Corporation is an international refiner and producer of transportation fuels and other petroleum products, headquartered in San Antonio, Texas. Its refining business processes crude oil and other feedstocks into products such as gasoline, diesel, jet fuel, asphalt and petrochemical feedstocks. The company markets and distributes fuels to wholesale customers and through branded distribution networks. Its refining operations span the United States, Canada and the United Kingdom, with products serving customers in North America and other markets.