Valero Energy (NYSE:VLO) Trading Up 3.6% – Here’s Why

Valero Energy Co. (NYSE:VLO) rose 3.6% on Wednesday . The stock traded as high as $136.25 and last traded at $136.73. Approximately 299,773 shares traded hands during mid-day trading, a decline of 91% from the average daily volume of 3,329,294 shares. The stock had previously closed at $132.00.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on VLO. Mizuho dropped their price objective on Valero Energy from $165.00 to $158.00 and set an “outperform” rating on the stock in a report on Wednesday, January 8th. Piper Sandler lowered their price target on shares of Valero Energy from $149.00 to $144.00 and set an “overweight” rating on the stock in a report on Friday, March 7th. Wells Fargo & Company reduced their price objective on shares of Valero Energy from $160.00 to $159.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Finally, Tudor Pickering upgraded shares of Valero Energy from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 4th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Valero Energy currently has an average rating of “Moderate Buy” and an average target price of $156.08.

Valero Energy Price Performance

The company has a current ratio of 1.57, a quick ratio of 1.11 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $42.48 billion, a PE ratio of 15.91, a PEG ratio of 2.93 and a beta of 1.36. The business has a fifty day moving average price of $133.88 and a 200-day moving average price of $133.34.

Valero Energy (NYSE:VLO) last issued its earnings results on Thursday, January 30th. The oil and gas company reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.50. Valero Energy had a return on equity of 9.58% and a net margin of 2.13%. Research analysts expect that Valero Energy Co. will post 7.92 EPS for the current fiscal year.

Valero Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Thursday, January 30th were paid a $1.13 dividend. The ex-dividend date of this dividend was Thursday, January 30th. This is an increase from Valero Energy’s previous quarterly dividend of $1.07. This represents a $4.52 annualized dividend and a yield of 3.35%. Valero Energy’s payout ratio is currently 53.30%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. New Wave Wealth Advisors LLC purchased a new stake in Valero Energy during the 4th quarter valued at about $25,000. Ameriflex Group Inc. purchased a new position in Valero Energy in the 4th quarter worth approximately $29,000. Tobam bought a new stake in Valero Energy in the fourth quarter valued at approximately $30,000. True Wealth Design LLC boosted its stake in shares of Valero Energy by 196.8% during the third quarter. True Wealth Design LLC now owns 276 shares of the oil and gas company’s stock valued at $37,000 after purchasing an additional 183 shares during the period. Finally, OFI Invest Asset Management bought a new position in shares of Valero Energy in the fourth quarter worth approximately $37,000. 78.69% of the stock is owned by institutional investors.

About Valero Energy

Valero Energy Corporation manufactures, markets, and sells petroleum-based and low-carbon liquid transportation fuels and petrochemical products in the United States, Canada, the United Kingdom, Ireland, Latin America, Mexico, Peru, and internationally. It operates through three segments: Refining, Renewable Diesel, and Ethanol.