Valero Energy (NYSE:VLO) Sets New 12-Month High on Analyst Upgrade

Key Points

• Valero Energy Corporation shares reached a new 12-month high after an upgrade from Bank of America changed the stock's rating from neutral to buy, with a new price target of $179.00.
• Institutions own approximately 78.69% of Valero Energy's stock, indicating strong confidence from investors, as several firms have rapidly increased their stakes in the company.
• Valero Energy declared a quarterly dividend of $1.13, leading to an annualized dividend yield of 2.9%, despite a high dividend payout ratio of 188.33%.

Valero Energy Corporation (NYSE:VLO - Get Free Report) shares hit a new 52-week high on Wednesday after Bank of America upgraded the stock from a neutral rating to a buy rating. Bank of America now has a $179.00 price target on the stock. Valero Energy traded as high as $158.65 and last traded at $155.84, with a volume of 314483 shares trading hands. The stock had previously closed at $154.28.

VLO has been the topic of a number of other reports. Evercore ISI started coverage on shares of Valero Energy in a research report on Wednesday, June 18th. They set an "in-line" rating and a $135.00 price target on the stock. Morgan Stanley raised their price target on shares of Valero Energy from $145.00 to $160.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 16th. Mizuho raised their price target on shares of Valero Energy from $158.00 to $166.00 and gave the stock an "outperform" rating in a research report on Tuesday, May 13th. Wolfe Research lowered shares of Valero Energy from an "outperform" rating to a "peer perform" rating in a research report on Monday, July 14th. Finally, Raymond James Financial raised their price target on shares of Valero Energy from $155.00 to $172.00 and gave the stock a "strong-buy" rating in a research report on Tuesday, July 15th. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, Valero Energy currently has a consensus rating of "Moderate Buy" and an average price target of $156.40.

Institutional Investors Weigh In On Valero Energy

A number of large investors have recently bought and sold shares of VLO. Aptus Capital Advisors LLC grew its stake in Valero Energy by 57.3% during the fourth quarter. Aptus Capital Advisors LLC now owns 8,783 shares of the oil and gas company's stock worth $1,077,000 after buying an additional 3,198 shares in the last quarter. Ancora Advisors LLC grew its stake in Valero Energy by 19.3% during the fourth quarter. Ancora Advisors LLC now owns 1,950 shares of the oil and gas company's stock worth $239,000 after buying an additional 315 shares in the last quarter. Cary Street Partners Financial LLC acquired a new stake in shares of Valero Energy in the 4th quarter valued at approximately $181,000. Captrust Financial Advisors boosted its stake in shares of Valero Energy by 47.1% in the 4th quarter. Captrust Financial Advisors now owns 132,078 shares of the oil and gas company's stock valued at $16,191,000 after purchasing an additional 42,316 shares in the last quarter. Finally, Crestline Management LP acquired a new stake in shares of Valero Energy in the 4th quarter valued at approximately $585,000. 78.69% of the stock is currently owned by institutional investors and hedge funds.

Valero Energy Trading Up 0.4%

The business's 50 day moving average price is $142.24 and its two-hundred day moving average price is $131.67. The company has a current ratio of 1.62, a quick ratio of 1.11 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $48.12 billion, a price-to-earnings ratio of 64.53, a P/E/G ratio of 3.55 and a beta of 1.10.

Valero Energy (NYSE:VLO - Get Free Report) last posted its quarterly earnings results on Thursday, July 24th. The oil and gas company reported $2.28 earnings per share for the quarter, beating analysts' consensus estimates of $1.66 by $0.62. Valero Energy had a net margin of 0.62% and a return on equity of 5.76%. The company had revenue of $29.89 billion for the quarter, compared to the consensus estimate of $27 billion. During the same period last year, the company posted $2.71 EPS. The firm's quarterly revenue was down 13.3% compared to the same quarter last year. On average, equities analysts predict that Valero Energy Corporation will post 7.92 earnings per share for the current fiscal year.

Valero Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Thursday, July 31st were paid a $1.13 dividend. This represents a $4.52 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date was Thursday, July 31st. Valero Energy's dividend payout ratio (DPR) is presently 188.33%.

Valero Energy Company Profile

Valero Energy Corporation manufactures, markets, and sells petroleum-based and low-carbon liquid transportation fuels and petrochemical products in the United States, Canada, the United Kingdom, Ireland, Latin America, Mexico, Peru, and internationally. It operates through three segments: Refining, Renewable Diesel, and Ethanol.

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