Evercore ISI upgraded shares of Valero Energy Corporation (NYSE:VLO) from an in-line rating to an outperform rating in a research report report published on Thursday morning, MarketBeat Ratings reports.
Several other research analysts also recently commented on the stock. Zacks Investment Research downgraded shares of Valero Energy Corporation from a buy rating to a hold rating in a research note on Wednesday, October 25th. Macquarie reaffirmed a neutral rating on shares of Valero Energy Corporation in a research note on Monday, October 23rd. They noted that the move was a valuation call. Citigroup Inc. raised their price target on shares of Valero Energy Corporation from $68.00 to $76.00 and gave the stock a buy rating in a research note on Wednesday, October 18th. Wells Fargo & Company reaffirmed an outperform rating and issued a $87.00 price target (up previously from $74.00) on shares of Valero Energy Corporation in a research note on Tuesday, October 17th. Finally, Jefferies Group LLC downgraded shares of Valero Energy Corporation from a buy rating to a hold rating in a research note on Monday, October 16th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and thirteen have assigned a buy rating to the stock. Valero Energy Corporation currently has a consensus rating of Hold and a consensus price target of $77.19.
Valero Energy Corporation (NYSE:VLO) opened at $80.88 on Thursday. The company has a market capitalization of $35,721.70, a P/E ratio of 17.47, a PEG ratio of 1.70 and a beta of 1.17. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.31 and a current ratio of 2.05.
Valero Energy Corporation (NYSE:VLO) last posted its quarterly earnings results on Thursday, October 26th. The oil and gas company reported $1.91 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.83 by $0.08. The company had revenue of $23.56 billion for the quarter, compared to the consensus estimate of $19.42 billion. Valero Energy Corporation had a net margin of 2.33% and a return on equity of 9.93%. The firm’s revenue was up 19.9% compared to the same quarter last year. During the same quarter last year, the firm posted $1.24 EPS. analysts predict that Valero Energy Corporation will post 4.77 earnings per share for the current year.
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The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 12th. Stockholders of record on Tuesday, November 21st will be issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.46%. The ex-dividend date of this dividend is Monday, November 20th. Valero Energy Corporation’s dividend payout ratio is currently 60.48%.
In related news, Director Stephen M. Waters sold 1,600 shares of Valero Energy Corporation stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $78.87, for a total value of $126,192.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Michael S. Ciskowski sold 53,012 shares of Valero Energy Corporation stock in a transaction that occurred on Tuesday, September 19th. The stock was sold at an average price of $72.88, for a total transaction of $3,863,514.56. Following the completion of the sale, the chief financial officer now owns 67,413 shares of the company’s stock, valued at $4,913,059.44. The disclosure for this sale can be found here. Insiders sold a total of 56,768 shares of company stock valued at $4,141,471 over the last quarter. 0.45% of the stock is owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Cable Hill Partners LLC boosted its stake in Valero Energy Corporation by 1,015.3% in the 3rd quarter. Cable Hill Partners LLC now owns 1,316 shares of the oil and gas company’s stock worth $101,000 after purchasing an additional 1,198 shares in the last quarter. Independent Portfolio Consultants Inc. boosted its stake in Valero Energy Corporation by 62.2% in the 2nd quarter. Independent Portfolio Consultants Inc. now owns 1,614 shares of the oil and gas company’s stock worth $109,000 after purchasing an additional 619 shares in the last quarter. First Personal Financial Services boosted its stake in Valero Energy Corporation by 13.6% in the 2nd quarter. First Personal Financial Services now owns 1,636 shares of the oil and gas company’s stock worth $110,000 after purchasing an additional 196 shares in the last quarter. Guardian Life Insurance Co. of America boosted its stake in Valero Energy Corporation by 0.6% in the 1st quarter. Guardian Life Insurance Co. of America now owns 1,746 shares of the oil and gas company’s stock worth $116,000 after purchasing an additional 11 shares in the last quarter. Finally, Ffcm LLC boosted its stake in Valero Energy Corporation by 189.4% in the 2nd quarter. Ffcm LLC now owns 1,881 shares of the oil and gas company’s stock worth $128,000 after purchasing an additional 1,231 shares in the last quarter. Institutional investors own 80.70% of the company’s stock.
About Valero Energy Corporation
Valero Energy Corporation (Valero) is an independent petroleum refiner and ethanol producer. The Company’s segments include refining, ethanol and Valero Energy Partners LP (VLP). The refining segment includes its refining operations and the associated marketing activities. The ethanol segment includes its ethanol operations and the associated marketing activities, and logistics assets that support its ethanol operations.
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