Valero Energy Co. (NYSE:VLO) announced a quarterly dividend on Tuesday, January 23rd, RTT News reports. Investors 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 dividend yield of 3.24%. This is a positive change from Valero Energy’s previous quarterly dividend of $0.70.
Valero Energy has raised its dividend by an average of 38.7% annually over the last three years and has increased its dividend annually for the last 7 consecutive years. Valero Energy has a payout ratio of 56.3% indicating that its dividend is sufficiently covered by earnings. Analysts expect Valero Energy to earn $6.97 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 40.2%.
Shares of Valero Energy (VLO) traded down $0.26 during midday trading on Tuesday, hitting $98.69. 2,100,000 shares of the company were exchanged, compared to its average volume of 2,910,000. Valero Energy has a fifty-two week low of $60.69 and a fifty-two week high of $99.31. The company has a current ratio of 1.91, a quick ratio of 1.24 and a debt-to-equity ratio of 0.39. The company has a market capitalization of $43,590.00, a PE ratio of 21.41, a P/E/G ratio of 1.51 and a beta of 1.20.
A number of research analysts recently issued reports on the company. Cowen lifted their target price on Valero Energy from $70.00 to $90.00 and gave the stock an “outperform” rating in a report on Thursday, September 28th. UBS Group reaffirmed a “neutral” rating and set a $80.00 target price (up from $69.00) on shares of Valero Energy in a report on Wednesday, September 27th. Piper Jaffray Companies reaffirmed a “hold” rating and set a $98.00 target price on shares of Valero Energy in a report on Monday. Zacks Investment Research lowered Valero Energy from a “buy” rating to a “hold” rating in a report on Tuesday, October 17th. Finally, Jefferies Group lowered Valero Energy from a “buy” rating to a “hold” rating in a report on Monday, October 16th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and nine have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $82.59.
In related news, Director Stephen M. Waters sold 1,600 shares of Valero Energy stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $78.87, for a total value of $126,192.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Philip J. Pfeiffer sold 1,500 shares of Valero Energy stock in a transaction dated Tuesday, November 14th. The stock was sold at an average price of $81.42, for a total value of $122,130.00. The disclosure for this sale can be found here. Insiders sold a total of 301,287 shares of company stock worth $27,860,150 in the last three months. 0.45% of the stock is currently owned by company insiders.
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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.
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