Valero Energy Co. (NYSE:VLO) declared a quarterly dividend on Wednesday, October 31st, RTT News reports. Stockholders of record on Tuesday, November 20th will be given a dividend of 0.80 per share by the oil and gas company on Wednesday, December 12th. This represents a $3.20 annualized dividend and a dividend yield of 3.51%.
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 49.7% indicating that its dividend is sufficiently covered by earnings. Analysts expect Valero Energy to earn $10.08 per share next year, which means the company should continue to be able to cover its $3.20 annual dividend with an expected future payout ratio of 31.7%.
Shares of Valero Energy stock traded up $0.99 on Wednesday, hitting $91.09. 5,539,259 shares of the company traded hands, compared to its average volume of 3,422,373. The company has a quick ratio of 1.10, a current ratio of 1.67 and a debt-to-equity ratio of 0.39. Valero Energy has a 12-month low of $77.78 and a 12-month high of $126.98. The stock has a market cap of $36.67 billion, a P/E ratio of 18.63, a P/E/G ratio of 0.72 and a beta of 1.03.
Valero Energy (NYSE:VLO) last posted its quarterly earnings results on Thursday, October 25th. The oil and gas company reported $2.01 EPS for the quarter, beating the consensus estimate of $1.95 by $0.06. Valero Energy had a net margin of 3.96% and a return on equity of 11.91%. The business had revenue of $30.85 billion for the quarter, compared to analysts’ expectations of $31.82 billion. On average, equities research analysts expect that Valero Energy will post 6.47 earnings per share for the current fiscal year.
Several equities analysts have recently commented on VLO shares. ValuEngine cut shares of Valero Energy from a “buy” rating to a “hold” rating in a report on Wednesday, July 4th. JPMorgan Chase & Co. boosted their price target on shares of Valero Energy from $128.00 to $132.00 and gave the company a “neutral” rating in a report on Friday, July 27th. Morgan Stanley boosted their price target on shares of Valero Energy from $140.00 to $150.00 and gave the company an “overweight” rating in a report on Tuesday, July 31st. Mizuho started coverage on shares of Valero Energy in a report on Wednesday, August 1st. They set a “neutral” rating and a $125.00 price target on the stock. Finally, Citigroup lifted their price objective on shares of Valero Energy from $125.00 to $134.00 and gave the company a “buy” rating in a research note on Friday, September 7th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and twelve have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $116.71.
Valero Energy Company Profile
Valero Energy Corporation operates as an independent petroleum refining and ethanol producing company. It operates through three segments: Refining, Ethanol, and VLP (Valero Energy Partners LP). The company is involved in oil and gas refining, marketing, and bulk selling activities. It produces conventional and premium gasolines, gasoline meeting the specifications of the California Air Resources Board (CARB), diesel fuels, low-sulfur and ultra-low-sulfur diesel fuels, CARB diesel, other distillates, jet fuels, asphalts, petrochemicals, lubricants, and other refined petroleum products.
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