Valero Energy (NYSE:VLO) Reaches New 1-Year High - Here's What Happened

Key Points

• Valero Energy hit a new 52-week high, trading as high as $312.37 after closing previously at $309.65, as the stock continued its recent upward move.
• Analysts have been mostly constructive on the name, with recent price target increases from Piper Sandler and Raymond James; the overall consensus rating remains Moderate Buy with an average target of $253.06.
• The company reported strong quarterly results, posting $4.22 EPS versus a $3.16 estimate and revenue of $32.38 billion, while also announcing a $1.20 per share quarterly dividend payable on August 31.

Valero Energy Corporation (NYSE:VLO - Get Free Report) shares hit a new 52-week high during trading on Monday . The stock traded as high as $312.37 and last traded at $312.3250, with a volume of 197732 shares. The stock had previously closed at $309.65.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Piper Sandler lifted their price target on shares of Valero Energy from $236.00 to $263.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 8th. Raymond James Financial upped their price target on Valero Energy from $300.00 to $340.00 and gave the stock a "strong-buy" rating in a research note on Monday, July 13th. UBS Group reiterated a "buy" rating and set a $280.00 price objective on shares of Valero Energy in a research report on Thursday, June 11th. TD Cowen increased their price target on Valero Energy from $276.00 to $292.00 and gave the company a "hold" rating in a research note on Monday, June 29th. Finally, Weiss Ratings cut shares of Valero Energy from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Wednesday, July 8th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, nine have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Valero Energy presently has a consensus rating of "Moderate Buy" and an average price target of $253.06.

Valero Energy Stock Up 0.7%

The company's 50 day moving average is $258.97 and its 200 day moving average is $229.77. 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 company has a market cap of $92.63 billion, a PE ratio of 22.70, a P/E/G ratio of 0.37 and a beta of 0.55.

Valero Energy (NYSE:VLO - Get Free Report) 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. Valero Energy had a return on equity of 15.94% and a net margin of 3.37%.The company had revenue of $32.38 billion for the quarter, compared to analysts' expectations of $31.38 billion. During the same quarter in the prior year, the firm earned $0.89 earnings per share. Valero Energy's revenue was up 7.0% compared to the same quarter last year. As a group, analysts predict that Valero Energy Corporation will post 32.61 earnings per share for the current fiscal year.

Valero Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 31st. Stockholders of record on Friday, July 31st will be paid a dividend of $1.20 per share. The ex-dividend date is Friday, July 31st. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.5%. Valero Energy's dividend payout ratio (DPR) is currently 34.88%.

Insider Transactions at Valero Energy

In other news, SVP Eric A. Fisher sold 7,500 shares of Valero Energy stock in a transaction on Monday, June 29th. The stock was sold at an average price of $268.17, for a total value of $2,011,275.00. Following the transaction, the senior vice president directly owned 19,742 shares in the company, valued at approximately $5,294,212.14. This trade represents a 27.53% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.36% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of VLO. Woodline Partners LP increased its position in Valero Energy by 40.7% during the 1st quarter. Woodline Partners LP now owns 26,747 shares of the oil and gas company's stock valued at $3,532,000 after buying an additional 7,735 shares in the last quarter. Sivia Capital Partners LLC boosted its holdings in shares of Valero Energy by 13.0% in the 2nd quarter. Sivia Capital Partners LLC now owns 1,929 shares of the oil and gas company's stock valued at $259,000 after acquiring an additional 222 shares during the last quarter. Gamco Investors INC. ET AL purchased a new stake in Valero Energy in the second quarter valued at $528,000. Sei Investments Co. grew its holdings in Valero Energy by 11.3% during the second quarter. Sei Investments Co. now owns 269,043 shares of the oil and gas company's stock worth $36,165,000 after acquiring an additional 27,291 shares during the period. Finally, Treasurer of the State of North Carolina grew its stake in shares of Valero Energy by 0.9% during the 2nd quarter. Treasurer of the State of North Carolina now owns 145,810 shares of the oil and gas company's stock worth $19,600,000 after purchasing an additional 1,338 shares during the period. Hedge funds and other institutional investors 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.

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