Valero Energy (NYSE:VLO) Upgraded to “Strong-Buy” at Zacks Research

Zacks Research upgraded shares of Valero Energy (NYSE:VLO) from a hold rating to a strong-buy rating in a report issued on Monday,Zacks.com reports.

A number of other research firms also recently issued reports on VLO. Bank of America reissued a “neutral” rating and set a $195.00 price target (down previously from $198.00) on shares of Valero Energy in a research report on Thursday, December 11th. TD Cowen raised their target price on shares of Valero Energy from $162.00 to $165.00 and gave the company a “hold” rating in a research report on Friday, October 24th. JPMorgan Chase & Co. upped their price target on shares of Valero Energy from $177.00 to $197.00 and gave the stock an “overweight” rating in a research report on Friday, October 24th. Mizuho reissued a “neutral” rating and set a $192.00 price objective (up from $190.00) on shares of Valero Energy in a report on Friday, December 12th. Finally, Raymond James Financial restated a “strong-buy” rating and set a $195.00 target price (up previously from $181.00) on shares of Valero Energy in a report on Friday, October 24th. Three research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, Valero Energy currently has a consensus rating of “Moderate Buy” and an average price target of $183.20.

Valero Energy Price Performance

Shares of VLO stock opened at $164.74 on Monday. The company has a market capitalization of $50.25 billion, a P/E ratio of 34.39, a P/E/G ratio of 1.16 and a beta of 0.76. The company’s 50-day simple moving average is $171.40 and its two-hundred day simple moving average is $156.42. Valero Energy has a one year low of $99.00 and a one year high of $185.62. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.60 and a quick ratio of 1.09.

Valero Energy (NYSE:VLO) last announced its quarterly earnings results on Thursday, October 23rd. The oil and gas company reported $3.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.15 by $0.51. Valero Energy had a return on equity of 8.69% and a net margin of 1.21%.The firm had revenue of $32.17 billion during the quarter, compared to analyst estimates of $28.80 billion. During the same quarter in the previous year, the business earned $1.14 earnings per share. Valero Energy’s quarterly revenue was down 2.2% on a year-over-year basis. As a group, equities analysts anticipate that Valero Energy will post 7.92 EPS for the current year.

Valero Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 18th. Stockholders of record on Thursday, November 20th were given a dividend of $1.13 per share. The ex-dividend date of this dividend was Thursday, November 20th. This represents a $4.52 dividend on an annualized basis and a dividend yield of 2.7%. Valero Energy’s dividend payout ratio is presently 94.36%.

Insider Buying and Selling at Valero Energy

In related news, CFO Jason W. Fraser sold 9,933 shares of the business’s stock in a transaction on Friday, November 21st. The stock was sold at an average price of $174.02, for a total transaction of $1,728,540.66. Following the transaction, the chief financial officer directly owned 134,196 shares in the company, valued at $23,352,787.92. The trade was a 6.89% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.37% of the stock is owned by insiders.

Hedge Funds Weigh In On Valero Energy

Several hedge funds have recently modified their holdings of the stock. JPL Wealth Management LLC acquired a new position in Valero Energy during the 3rd quarter valued at approximately $27,000. Highline Wealth Partners LLC grew its holdings in shares of Valero Energy by 70.2% during the third quarter. Highline Wealth Partners LLC now owns 160 shares of the oil and gas company’s stock valued at $27,000 after buying an additional 66 shares during the last quarter. Hoey Investments Inc. acquired a new position in shares of Valero Energy in the 2nd quarter valued at $26,000. Global Wealth Strategies & Associates purchased a new position in Valero Energy in the 3rd quarter worth $34,000. Finally, Cypress Capital Management LLC WY acquired a new stake in Valero Energy during the 3rd quarter worth about $34,000. Institutional investors and hedge funds own 78.69% of the company’s stock.

About Valero Energy

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.