Valero Energy (NYSE:VLO) Upgraded to “Outperform” by Mizuho

Mizuho upgraded shares of Valero Energy (NYSE:VLO) from a neutral rating to an outperform rating in a research report report published on Wednesday, MarketBeat Ratings reports. The firm currently has $175.00 price objective on the oil and gas company’s stock, up from their previous price objective of $165.00.

Other analysts have also issued reports about the stock. Piper Sandler dropped their price target on shares of Valero Energy from $187.00 to $169.00 and set an overweight rating on the stock in a research report on Friday, June 14th. Argus lowered shares of Valero Energy from a buy rating to a hold rating in a research report on Thursday, May 16th. Barclays dropped their price target on shares of Valero Energy from $171.00 to $165.00 and set an overweight rating on the stock in a research report on Tuesday, July 9th. UBS Group upped their price target on shares of Valero Energy from $167.00 to $197.00 and gave the stock a buy rating in a research report on Tuesday, March 26th. Finally, The Goldman Sachs Group upped their price target on shares of Valero Energy from $130.00 to $171.00 and gave the stock a sell rating in a research report on Friday, March 22nd. One research analyst has rated the stock with a sell rating, four have issued a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $171.47.

Valero Energy Stock Performance

Shares of VLO opened at $148.33 on Wednesday. Valero Energy has a 12 month low of $119.09 and a 12 month high of $184.79. The firm has a fifty day simple moving average of $154.27 and a 200 day simple moving average of $152.40. The stock has a market capitalization of $48.50 billion, a price-to-earnings ratio of 7.35, a PEG ratio of 1.79 and a beta of 1.42. The company has a current ratio of 1.59, a quick ratio of 1.10 and a debt-to-equity ratio of 0.35.

Valero Energy (NYSE:VLO) last announced its earnings results on Thursday, April 25th. The oil and gas company reported $3.82 EPS for the quarter, topping the consensus estimate of $3.18 by $0.64. Valero Energy had a net margin of 5.01% and a return on equity of 24.82%. The business had revenue of $31.76 billion during the quarter, compared to analysts’ expectations of $32.02 billion. During the same quarter in the prior year, the company posted $8.27 earnings per share. The firm’s revenue was down 12.8% on a year-over-year basis. Research analysts forecast that Valero Energy will post 13.73 EPS for the current fiscal year.

Valero Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Thursday, August 1st will be given a $1.07 dividend. The ex-dividend date is Thursday, August 1st. This represents a $4.28 dividend on an annualized basis and a dividend yield of 2.89%. Valero Energy’s payout ratio is 21.20%.

Insider Activity

In other news, Director Kimberly S. Greene sold 720 shares of Valero Energy stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $158.12, for a total value of $113,846.40. Following the completion of the sale, the director now directly owns 13,314 shares in the company, valued at $2,105,209.68. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.04% of the stock is owned by company insiders.

Institutional Trading of Valero Energy

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Collective Family Office LLC grew its stake in shares of Valero Energy by 1.5% during the first quarter. Collective Family Office LLC now owns 4,040 shares of the oil and gas company’s stock worth $690,000 after buying an additional 58 shares during the last quarter. Versant Capital Management Inc raised its holdings in shares of Valero Energy by 4.7% in the 1st quarter. Versant Capital Management Inc now owns 1,327 shares of the oil and gas company’s stock worth $227,000 after acquiring an additional 59 shares during the last quarter. Covenant Asset Management LLC raised its holdings in shares of Valero Energy by 0.4% in the 1st quarter. Covenant Asset Management LLC now owns 14,659 shares of the oil and gas company’s stock worth $2,502,000 after acquiring an additional 64 shares during the last quarter. Drive Wealth Management LLC raised its holdings in shares of Valero Energy by 1.1% in the 1st quarter. Drive Wealth Management LLC now owns 5,797 shares of the oil and gas company’s stock worth $990,000 after acquiring an additional 65 shares during the last quarter. Finally, Rovin Capital UT ADV raised its holdings in shares of Valero Energy by 3.5% in the 1st quarter. Rovin Capital UT ADV now owns 1,968 shares of the oil and gas company’s stock worth $336,000 after acquiring an additional 67 shares during the last quarter. Institutional investors own 78.69% of the company’s stock.

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.