Valero Energy’s (VLO) “Buy” Rating Reaffirmed at Scotiabank

Scotiabank restated their buy rating on shares of Valero Energy (NYSE:VLO) in a research note published on Friday. Scotiabank currently has a $93.00 price objective on the oil and gas company’s stock.

Other analysts also recently issued research reports about the company. ValuEngine raised Valero Energy from a hold rating to a buy rating in a research note on Friday, September 1st. Royal Bank of Canada reissued a buy rating and issued a $77.00 price target on shares of Valero Energy in a research note on Thursday, August 31st. Zacks Investment Research raised Valero Energy from a hold rating to a buy rating and set a $87.00 price target on the stock in a research note on Monday, October 16th. Citigroup lifted their price target on Valero Energy from $68.00 to $76.00 and gave the company a buy rating in a research note on Wednesday, October 18th. Finally, Cowen reissued a buy rating and issued a $90.00 price target on shares of Valero Energy in a research note on Friday, November 3rd. One analyst has rated the stock with a sell rating, twelve have given a hold rating and eleven have given a buy rating to the stock. Valero Energy has an average rating of Hold and an average target price of $79.76.

Shares of Valero Energy (NYSE:VLO) traded up $0.41 during trading on Friday, reaching $91.13. The company had a trading volume of 1,814,658 shares, compared to its average volume of 3,429,420. The firm has a market cap of $39,697.35, a P/E ratio of 19.68, a PEG ratio of 1.84 and a beta of 1.20. Valero Energy has a twelve month low of $60.69 and a twelve month high of $91.50. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.91 and a quick ratio of 1.24.

Valero Energy (NYSE:VLO) last released its quarterly earnings results on Thursday, October 26th. The oil and gas company reported $1.91 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.83 by $0.08. Valero Energy had a return on equity of 9.87% and a net margin of 2.33%. The firm had revenue of $23.56 billion for the quarter, compared to the consensus estimate of $19.42 billion. During the same quarter last year, the business posted $1.24 EPS. The company’s revenue for the quarter was up 19.9% on a year-over-year basis. equities research analysts predict that Valero Energy will post 5 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 12th. Stockholders of record on Tuesday, November 21st were issued a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 3.07%. The ex-dividend date was Monday, November 20th. Valero Energy’s payout ratio is 60.48%.

In other news, CFO Michael S. Ciskowski sold 45,657 shares of the firm’s stock in a transaction dated Wednesday, December 20th. The stock was sold at an average price of $88.91, for a total value of $4,059,363.87. Following the completion of the transaction, the chief financial officer now owns 57,589 shares in the company, valued at approximately $5,120,237.99. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Stephen M. Waters sold 656 shares of the firm’s stock in a transaction dated Thursday, September 28th. The shares were sold at an average price of $75.86, for a total value of $49,764.16. The disclosure for this sale can be found here. Insiders sold a total of 50,413 shares of company stock valued at $4,444,680 in the last 90 days. 0.45% of the stock is owned by corporate insiders.

Institutional investors have recently bought and sold shares of the stock. Putnam FL Investment Management Co. bought a new position in Valero Energy during the third quarter worth about $1,910,000. Aberdeen Asset Management PLC UK grew its holdings in Valero Energy by 19.0% during the second quarter. Aberdeen Asset Management PLC UK now owns 1,082,989 shares of the oil and gas company’s stock worth $73,059,000 after purchasing an additional 172,788 shares during the period. Brookstone Capital Management grew its holdings in Valero Energy by 4.4% during the second quarter. Brookstone Capital Management now owns 86,688 shares of the oil and gas company’s stock worth $5,848,000 after purchasing an additional 3,644 shares during the period. Andra AP fonden grew its holdings in Valero Energy by 2.9% during the second quarter. Andra AP fonden now owns 71,300 shares of the oil and gas company’s stock worth $4,810,000 after purchasing an additional 2,000 shares during the period. Finally, Swiss National Bank grew its holdings in Valero Energy by 2.7% during the second quarter. Swiss National Bank now owns 1,646,948 shares of the oil and gas company’s stock worth $111,103,000 after purchasing an additional 42,700 shares during the period. Institutional investors and hedge funds own 81.31% of the company’s stock.

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About Valero Energy

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.

Analyst Recommendations for Valero Energy (NYSE:VLO)

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