Valero Energy’s (VLO) “Overweight” Rating Reiterated at Piper Sandler

Piper Sandler reissued their overweight rating on shares of Valero Energy (NYSE:VLOFree Report) in a research note issued to investors on Thursday,Benzinga reports. They currently have a $329.00 price target on the oil and gas company’s stock.

Several other research firms have also weighed in on VLO. BMO Capital Markets raised their price objective on shares of Valero Energy from $230.00 to $270.00 and gave the stock an “outperform” rating in a report on Monday, April 6th. Weiss Ratings downgraded Valero Energy from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, July 8th. Wells Fargo & Company increased their price target on Valero Energy from $220.00 to $292.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 31st. Citigroup raised their price target on Valero Energy from $259.00 to $302.00 and gave the company a “neutral” rating in a report on Tuesday, July 14th. Finally, Scotiabank lifted their price objective on Valero Energy from $178.00 to $226.00 and gave the company a “sector outperform” rating in a research report on Wednesday, April 22nd. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $266.71.

Check Out Our Latest Analysis on VLO

Valero Energy Trading Down 0.9%

Shares of Valero Energy stock opened at $302.48 on Thursday. The stock has a market capitalization of $89.81 billion, a P/E ratio of 21.98, a price-to-earnings-growth ratio of 0.20 and a beta of 0.55. The company has a quick ratio of 1.15, a current ratio of 1.58 and a debt-to-equity ratio of 0.39. The company has a 50-day simple moving average of $265.22 and a 200 day simple moving average of $234.39. Valero Energy has a 12-month low of $130.78 and a 12-month high of $320.24.

Valero Energy (NYSE:VLOGet Free Report) last announced its quarterly earnings results on Thursday, April 30th. The oil and gas company reported $4.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.16 by $1.06. The firm had revenue of $32.38 billion during the quarter, compared to the consensus estimate of $31.38 billion. Valero Energy had a net margin of 3.37% and a return on equity of 15.94%. The firm’s quarterly revenue was up 7.0% on a year-over-year basis. During the same period last year, the firm posted $0.89 EPS. Research analysts expect that Valero Energy will post 36.46 earnings per share for the current fiscal year.

Valero Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, August 31st. Investors of record on Friday, July 31st will be issued a $1.20 dividend. The ex-dividend date of this dividend is Friday, July 31st. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.6%. Valero Energy’s dividend payout ratio (DPR) is currently 34.88%.

Insiders Place Their Bets

In related news, SVP Eric A. Fisher sold 7,500 shares of the business’s stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $268.17, for a total value of $2,011,275.00. Following the completion of the transaction, the senior vice president owned 19,742 shares in the company, valued at $5,294,212.14. The trade was a 27.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.36% of the stock is owned by company insiders.

Institutional Investors Weigh In On Valero Energy

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Whipplewood Advisors LLC lifted its stake in shares of Valero Energy by 3,400.0% during the first quarter. Whipplewood Advisors LLC now owns 105 shares of the oil and gas company’s stock valued at $26,000 after acquiring an additional 102 shares during the period. JPL Wealth Management LLC acquired a new stake in Valero Energy in the third quarter worth about $27,000. Financial Life Planners acquired a new stake in Valero Energy in the first quarter worth about $28,000. Valued Wealth Advisors LLC raised its holdings in Valero Energy by 134.0% during the 1st quarter. Valued Wealth Advisors LLC now owns 117 shares of the oil and gas company’s stock worth $29,000 after purchasing an additional 67 shares during the last quarter. Finally, Torren Management LLC bought a new stake in Valero Energy during the 4th quarter worth about $30,000. 78.69% of the stock is owned by institutional investors and hedge funds.

Valero Energy News Summary

Here are the key news stories impacting Valero Energy this week:

Valero Energy Company Profile

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Valero Energy Corporation is a San Antonio, Texas–based integrated downstream energy company that manufactures and markets transportation fuels, petrochemical feedstocks and other industrial products. The company’s operations focus on refining crude oil into finished fuels such as gasoline, diesel and jet fuel, as well as producing asphalt and other refined product streams for commercial and industrial customers.

In addition to refining, Valero has significant operations in renewable fuels, including the production of ethanol and other biofuels, and it manages an extensive logistics network of pipelines, terminals, rail and marine assets to move feedstocks and finished products.

Further Reading

Analyst Recommendations for Valero Energy (NYSE:VLO)

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