Valero Energy (NYSE:VLO) Trading 6% Higher – Here’s Why

Valero Energy Corporation (NYSE:VLO) shares were up 6% on Wednesday . The stock traded as high as $282.49 and last traded at $282.2880. 1,174,123 shares were traded during mid-day trading, a decline of 66% from the average daily volume of 3,495,232 shares. The stock had previously closed at $266.22.

Analyst Ratings Changes

Several equities research analysts have issued reports on VLO shares. Zacks Research downgraded shares of Valero Energy from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 22nd. UBS Group reissued a “buy” rating and set a $280.00 price objective on shares of Valero Energy in a report on Thursday, June 11th. Morgan Stanley boosted their price target on Valero Energy from $232.00 to $255.00 and gave the company an “equal weight” rating in a report on Friday, June 12th. Mizuho raised their target price on shares of Valero Energy from $222.00 to $289.00 and gave the stock a “neutral” rating in a report on Wednesday, May 27th. Finally, Wells Fargo & Company raised their price target on shares of Valero Energy from $220.00 to $292.00 and gave the company an “overweight” rating in a research note on Tuesday, March 31st. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $247.59.

Valero Energy Stock Up 4.4%

The business has a fifty day moving average price of $251.07 and a two-hundred day moving average price of $222.49. The company has a market cap of $82.51 billion, a price-to-earnings ratio of 20.18, a P/E/G ratio of 0.37 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.

Valero Energy (NYSE:VLO) last announced its quarterly earnings data on Thursday, April 30th. The oil and gas company reported $4.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.16 by $1.06. The business had revenue of $32.38 billion during the quarter, compared to analyst estimates of $31.38 billion. Valero Energy had a return on equity of 15.94% and a net margin of 3.37%.Valero Energy’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same period last year, the company earned $0.89 earnings per share. On average, equities analysts predict that Valero Energy Corporation will post 28.37 earnings per share for the current year.

Valero Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 23rd. Stockholders of record on Thursday, May 21st were paid a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a dividend yield of 1.7%. The ex-dividend date was Thursday, May 21st. Valero Energy’s dividend payout ratio is 34.88%.

Insider Buying and Selling

In other news, SVP Eric A. Fisher sold 7,500 shares of Valero Energy stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $268.17, for a total value of $2,011,275.00. Following the transaction, the senior vice president owned 19,742 shares of the company’s stock, valued at $5,294,212.14. This trade represents a 27.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.36% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Valero Energy

Large investors have recently made changes to their positions in the business. Czech National Bank boosted its position in shares of Valero Energy by 1.7% in the second quarter. Czech National Bank now owns 84,519 shares of the oil and gas company’s stock valued at $22,012,000 after acquiring an additional 1,451 shares during the period. PensionDanmark Pensionsforsikringsaktieselskab increased its stake in Valero Energy by 12.1% in the second quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 75,389 shares of the oil and gas company’s stock valued at $19,634,000 after acquiring an additional 8,141 shares during the period. Assenagon Asset Management S.A. raised its holdings in shares of Valero Energy by 43.3% in the 2nd quarter. Assenagon Asset Management S.A. now owns 130,799 shares of the oil and gas company’s stock worth $34,065,000 after buying an additional 39,499 shares in the last quarter. Apella Capital LLC lifted its holdings in shares of Valero Energy by 7.6% during the second quarter. Apella Capital LLC now owns 6,782 shares of the oil and gas company’s stock valued at $1,806,000 after acquiring an additional 481 shares during the period. Finally, 55 North Private Wealth LLC increased its position in shares of Valero Energy by 5.6% during the 2nd quarter. 55 North Private Wealth LLC now owns 1,666 shares of the oil and gas company’s stock worth $434,000 after purchasing an additional 88 shares in the last quarter. Institutional investors and hedge funds own 78.69% of the company’s stock.

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.