Valero Energy Corporation (NYSE:VLO) Shares Set to Pay Quarterly Dividend of $1.20

Key Points

• Valero declared a quarterly dividend of $1.20 per share, payable December 21 to shareholders of record on November 24. The annualized dividend is $4.80 per share, representing a 1.2% yield.
• Valero’s latest quarterly results exceeded expectations, with EPS of $23.90 versus the $21.17 consensus and revenue of $46.10 billion, up 43.3% year over year.
• The company’s dividend appears well covered, with a 48.0% payout ratio, while institutional investors own approximately 78.69% of outstanding shares.

Valero Energy Corporation (NYSE:VLO - Get Free Report) announced a quarterly dividend on Tuesday, October 27th. Investors of record on Tuesday, November 24th will be paid a dividend of $1.20 per share by the oil and gas company on Monday, December 21st. This represents a $4.80 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Tuesday, November 24th.

Valero Energy has a dividend payout ratio of 48.0% meaning its dividend is sufficiently covered by earnings. Analysts expect Valero Energy to earn $53.01 per share next year, which means the company should continue to be able to cover its $4.80 annual dividend with an expected future payout ratio of 9.1%.

Valero Energy Stock Down 9.4%

Valero Energy stock opened at $386.77 on Wednesday. The stock has a market cap of $111.36 billion, a P/E ratio of 8.70 and a beta of 0.59. Valero Energy has a twelve month low of $159.90 and a twelve month high of $461.52. The company's 50-day moving average price is $394.93 and its two-hundred day moving average price is $281.98.

Valero Energy (NYSE:VLO - Get Free Report) last posted its quarterly earnings data on Thursday, October 22nd. The oil and gas company reported $23.90 earnings per share for the quarter, topping the consensus estimate of $21.17 by $2.73. The firm had revenue of $46.10 billion for the quarter, compared to the consensus estimate of $42.71 billion. The firm's quarterly revenue was up 43.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.66 EPS. Equities analysts anticipate that Valero Energy will post 56.78 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Valero Energy

Several hedge funds have recently bought and sold shares of the stock. Moore Capital Management LP purchased a new stake in shares of Valero Energy in the second quarter valued at about $13,193,000. QRG Capital Management Inc. raised its holdings in Valero Energy by 5.5% during the second quarter. QRG Capital Management Inc. now owns 58,558 shares of the oil and gas company's stock worth $15,251,000 after purchasing an additional 3,037 shares in the last quarter. Jennison Associates LLC raised its holdings in Valero Energy by 377.1% during the first quarter. Jennison Associates LLC now owns 413,437 shares of the oil and gas company's stock worth $102,152,000 after purchasing an additional 326,777 shares in the last quarter. Journey Advisory Group LLC lifted its position in Valero Energy by 23.3% in the first quarter. Journey Advisory Group LLC now owns 21,676 shares of the oil and gas company's stock valued at $5,356,000 after purchasing an additional 4,098 shares during the period. Finally, National Pension Service lifted its position in Valero Energy by 1.0% in the second quarter. National Pension Service now owns 549,675 shares of the oil and gas company's stock valued at $143,157,000 after purchasing an additional 5,609 shares during the period. 78.69% of the stock is currently owned by institutional investors.

About Valero Energy

Valero Energy Corporation is an international energy company headquartered in San Antonio, Texas. The company's primary business is refining and marketing transportation fuels, including gasoline, diesel, jet fuel and other products used by commercial, industrial and consumer customers.

Valero operates refineries in the United States, Canada and the United Kingdom. Its refining operations also produce asphalt, petrochemical feedstocks and other petroleum-based products. The company markets fuel through wholesale channels and branded retail networks, including Valero, Beacon and Shamrock-branded locations.

In addition to conventional refining, Valero has businesses focused on renewable fuels.

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