Valero Energy (NYSE:VLO) Shares Gap Down – Here’s What Happened

Valero Energy Corporation (NYSE:VLO)’s share price gapped down prior to trading on Monday . The stock had previously closed at $258.67, but opened at $244.70. Valero Energy shares last traded at $242.5660, with a volume of 421,294 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Morgan Stanley boosted their price target on shares of Valero Energy from $232.00 to $255.00 and gave the company an “equal weight” rating in a report on Friday, June 12th. BMO Capital Markets boosted their price target on shares of Valero Energy from $230.00 to $270.00 and gave the company an “outperform” rating in a report on Monday, April 6th. Scotiabank boosted their price target on shares of Valero Energy from $178.00 to $226.00 and gave the company a “sector outperform” rating in a report on Wednesday, April 22nd. Wolfe Research reaffirmed an “underperform” rating and issued a $203.00 target price on shares of Valero Energy in a report on Tuesday, April 21st. Finally, Wells Fargo & Company upped their target price on shares of Valero Energy from $220.00 to $292.00 and gave the stock an “overweight” rating in a report on Tuesday, March 31st. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Valero Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of $245.59.

Valero Energy Trading Down 1.8%

The stock has a market cap of $71.18 billion, a P/E ratio of 17.42, a price-to-earnings-growth ratio of 0.35 and a beta of 0.55. The company has a current ratio of 1.58, a quick ratio of 1.15 and a debt-to-equity ratio of 0.39. The business’s fifty day simple moving average is $245.58 and its 200 day simple moving average is $213.82.

Valero Energy (NYSE:VLO) last issued its earnings results on Thursday, April 30th. The oil and gas company reported $4.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.16 by $1.06. The company had revenue of $32.38 billion for the quarter, compared to analyst estimates of $31.38 billion. Valero Energy had a net margin of 3.37% and a return on equity of 15.94%. The company’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.89 EPS. As a group, analysts expect that Valero Energy Corporation will post 27.25 EPS for the current year.

Valero Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 23rd. Investors of record on Thursday, May 21st will be given a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date is Thursday, May 21st. Valero Energy’s dividend payout ratio (DPR) is currently 34.88%.

Institutional Trading of Valero Energy

A number of hedge funds have recently modified their holdings of the company. First National Bank of Mount Dora Trust Investment Services raised its position in shares of Valero Energy by 245.0% in the 1st quarter. First National Bank of Mount Dora Trust Investment Services now owns 17,954 shares of the oil and gas company’s stock valued at $4,436,000 after acquiring an additional 12,750 shares during the period. Parallel Advisors LLC raised its position in shares of Valero Energy by 15.2% in the 1st quarter. Parallel Advisors LLC now owns 2,850 shares of the oil and gas company’s stock valued at $704,000 after acquiring an additional 376 shares during the period. NewEdge Advisors LLC raised its position in shares of Valero Energy by 19.2% in the 1st quarter. NewEdge Advisors LLC now owns 59,298 shares of the oil and gas company’s stock valued at $14,651,000 after acquiring an additional 9,553 shares during the period. First Nebraska Trust Co acquired a new stake in Valero Energy during the 1st quarter worth approximately $286,000. Finally, Cozad Asset Management Inc. acquired a new stake in Valero Energy during the 1st quarter worth approximately $286,000. 78.69% of the stock is currently owned by institutional investors and hedge funds.

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.