Evercore ISI initiated coverage on shares of Valero Energy (NYSE:VLO – Free Report) in a report released on Wednesday, Marketbeat.com reports. The brokerage issued an in-line rating and a $135.00 price target on the oil and gas company’s stock.
Several other brokerages have also recently commented on VLO. TD Cowen reduced their price target on shares of Valero Energy from $121.00 to $118.00 and set a “buy” rating on the stock in a research report on Friday, April 25th. Barclays increased their price objective on shares of Valero Energy from $140.00 to $141.00 and gave the stock an “overweight” rating in a research note on Monday, May 12th. UBS Group dropped their price objective on shares of Valero Energy from $160.00 to $150.00 and set a “buy” rating on the stock in a research note on Monday, April 28th. Piper Sandler dropped their price objective on shares of Valero Energy from $144.00 to $140.00 and set an “overweight” rating on the stock in a research note on Friday, May 9th. Finally, Scotiabank dropped their price objective on shares of Valero Energy from $156.00 to $136.00 and set a “sector outperform” rating on the stock in a research note on Friday, April 11th. Three investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $150.88.
Get Our Latest Stock Analysis on VLO
Valero Energy Stock Performance
Valero Energy (NYSE:VLO – Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The oil and gas company reported $0.89 earnings per share for the quarter, missing analysts’ consensus estimates of $1.16 by ($0.27). Valero Energy had a net margin of 0.72% and a return on equity of 6.30%. The firm had revenue of $28.76 billion during the quarter, compared to analysts’ expectations of $28.54 billion. During the same period in the previous year, the company earned $3.82 earnings per share. The business’s quarterly revenue was down 4.7% on a year-over-year basis. On average, research analysts expect that Valero Energy will post 7.92 earnings per share for the current fiscal year.
Valero Energy Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Tuesday, May 20th were issued a dividend of $1.13 per share. This represents a $4.52 dividend on an annualized basis and a yield of 3.24%. The ex-dividend date was Tuesday, May 20th. Valero Energy’s payout ratio is 159.72%.
Institutional Trading of Valero Energy
A number of large investors have recently added to or reduced their stakes in VLO. Price T Rowe Associates Inc. MD boosted its position in Valero Energy by 276.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 10,795,436 shares of the oil and gas company’s stock worth $1,425,754,000 after acquiring an additional 7,931,018 shares during the period. Norges Bank purchased a new stake in shares of Valero Energy in the fourth quarter worth approximately $669,400,000. Vanguard Group Inc. boosted its holdings in shares of Valero Energy by 16.1% during the fourth quarter. Vanguard Group Inc. now owns 34,725,700 shares of the oil and gas company’s stock worth $4,257,024,000 after purchasing an additional 4,805,133 shares during the period. Nuveen LLC acquired a new stake in shares of Valero Energy during the first quarter worth approximately $529,864,000. Finally, GAMMA Investing LLC boosted its holdings in shares of Valero Energy by 15,395.5% during the first quarter. GAMMA Investing LLC now owns 1,355,699 shares of the oil and gas company’s stock worth $179,047,000 after purchasing an additional 1,346,950 shares during the period. 78.69% of the stock is currently owned by institutional investors.
Valero Energy Company Profile
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.
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