Valero Energy Co. (NYSE:VLO) declared a quarterly dividend on Tuesday, January 23rd, RTT News reports. Shareholders of record on Tuesday, February 13th will be paid a dividend of 0.80 per share by the oil and gas company on Tuesday, March 6th. This represents a $3.20 dividend on an annualized basis and a yield of 3.54%. The ex-dividend date of this dividend is Monday, February 12th. This is an increase from Valero Energy’s previous quarterly dividend of $0.70.
Valero Energy has increased its dividend by an average of 38.7% per year over the last three years and has increased its dividend every year for the last 7 years. Valero Energy has a dividend payout ratio of 56.3% meaning its dividend is sufficiently covered by earnings. Research analysts expect Valero Energy to earn $7.46 per share next year, which means the company should continue to be able to cover its $2.80 annual dividend with an expected future payout ratio of 37.5%.
Valero Energy (NYSE:VLO) opened at $90.46 on Wednesday. The company has a quick ratio of 1.24, a current ratio of 1.91 and a debt-to-equity ratio of 0.39. The firm has a market capitalization of $39,950.00, a price-to-earnings ratio of 19.62, a price-to-earnings-growth ratio of 1.15 and a beta of 0.99. Valero Energy has a fifty-two week low of $60.69 and a fifty-two week high of $99.95.
In related news, Director Philip J. Pfeiffer sold 1,500 shares of the firm’s stock in a transaction dated Tuesday, November 14th. The stock was sold at an average price of $81.42, for a total transaction of $122,130.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Stephen M. Waters sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, December 13th. The stock was sold at an average price of $87.23, for a total value of $87,230.00. The disclosure for this sale can be found here. Insiders have sold a total of 299,687 shares of company stock valued at $27,733,958 over the last three months. Corporate insiders own 0.45% of the company’s stock.
Valero Energy declared that its Board of Directors has authorized a share repurchase plan on Tuesday, January 23rd that permits the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization permits the oil and gas company to reacquire shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.
A number of research analysts have weighed in on the company. Cowen restated a “buy” rating and issued a $100.00 price objective on shares of Valero Energy in a report on Thursday, February 1st. ValuEngine raised Valero Energy from a “hold” rating to a “buy” rating in a research note on Wednesday. Royal Bank of Canada reaffirmed a “buy” rating and issued a $110.00 target price on shares of Valero Energy in a research note on Tuesday, January 30th. Citigroup raised their target price on Valero Energy from $76.00 to $96.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 24th. Finally, Zacks Investment Research downgraded Valero Energy from a “buy” rating to a “hold” rating in a research note on Tuesday, October 17th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and eight have issued a buy rating to the company’s stock. Valero Energy has an average rating of “Hold” and an average price target of $89.06.
Valero Energy Company Profile
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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