Valero Energy (NYSE:VLO) Sets New 52-Week High – Here’s Why

Valero Energy Corporation (NYSE:VLO)’s share price reached a new 52-week high during mid-day trading on Monday . The company traded as high as $347.61 and last traded at $347.0670, with a volume of 110573 shares trading hands. The stock had previously closed at $341.67.

Analysts Set New Price Targets

A number of research analysts recently weighed in on VLO shares. Weiss Ratings upgraded Valero Energy from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, August 6th. UBS Group boosted their target price on Valero Energy from $280.00 to $355.00 and gave the stock a “buy” rating in a report on Friday, July 31st. Citigroup increased their target price on shares of Valero Energy from $259.00 to $302.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 14th. Zacks Research upgraded Valero Energy from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 4th. Finally, TD Cowen lifted their price objective on Valero Energy from $338.00 to $350.00 and gave the stock a “hold” rating in a report on Monday, August 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Valero Energy presently has a consensus rating of “Moderate Buy” and a consensus target price of $288.00.

Valero Energy Trading Up 1.6%

The firm has a market cap of $99.99 billion, a price-to-earnings ratio of 14.40, a price-to-earnings-growth ratio of 0.23 and a beta of 0.55. The business’s 50 day moving average price is $283.92 and its 200-day moving average price is $248.42. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.23 and a current ratio of 1.64.

Valero Energy (NYSE:VLO) last posted its quarterly earnings results on Thursday, July 30th. The oil and gas company reported $12.54 EPS for the quarter, topping analysts’ consensus estimates of $10.11 by $2.43. The business had revenue of $44.48 billion during the quarter, compared to the consensus estimate of $39.47 billion. Valero Energy had a return on equity of 26.74% and a net margin of 5.17%.The company’s revenue for the quarter was up 48.8% compared to the same quarter last year. During the same period last year, the firm earned $2.28 earnings per share. Equities analysts expect that Valero Energy Corporation will post 40.62 EPS for the current year.

Valero Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, August 31st. Shareholders of record on Friday, July 31st will be issued a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend is Friday, July 31st. Valero Energy’s dividend payout ratio (DPR) is currently 19.92%.

Insider Activity at Valero Energy

In other news, SVP Eric A. Fisher sold 7,500 shares of the business’s stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $268.17, for a total value of $2,011,275.00. Following the completion of the sale, the senior vice president directly owned 19,742 shares in the company, valued at approximately $5,294,212.14. The trade was a 27.53% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.36% of the company’s stock.

Hedge Funds Weigh In On Valero Energy

Large investors have recently added to or reduced their stakes in the company. V Square Quantitative Management LLC lifted its position in Valero Energy by 0.6% in the 1st quarter. V Square Quantitative Management LLC now owns 6,670 shares of the oil and gas company’s stock valued at $1,648,000 after purchasing an additional 42 shares during the last quarter. M.E. Allison & CO. Inc. grew its position in Valero Energy by 5.8% in the 2nd quarter. M.E. Allison & CO. Inc. now owns 916 shares of the oil and gas company’s stock worth $239,000 after purchasing an additional 50 shares during the last quarter. Ridgecrest Wealth Partners LLC raised its holdings in shares of Valero Energy by 5.0% during the second quarter. Ridgecrest Wealth Partners LLC now owns 1,054 shares of the oil and gas company’s stock valued at $275,000 after buying an additional 50 shares during the last quarter. CYBER HORNET ETFs LLC boosted its position in shares of Valero Energy by 5.5% during the fourth quarter. CYBER HORNET ETFs LLC now owns 975 shares of the oil and gas company’s stock worth $159,000 after buying an additional 51 shares during the period. Finally, Bruce G. Allen Investments LLC boosted its position in shares of Valero Energy by 32.9% during the fourth quarter. Bruce G. Allen Investments LLC now owns 206 shares of the oil and gas company’s stock worth $34,000 after buying an additional 51 shares during the period. 78.69% of the stock is currently owned by institutional investors.

Valero Energy Company Profile

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.