Valero Energy (NYSE:VLO) Sets New 52-Week High - Here's What Happened

Key Points

• Valero Energy (NYSE: VLO) hit a new 52-week high, trading as high as $287.05 and ending up about 3.7% on the day, well above its prior close of $280.69.
• Recent analyst activity has been mixed but generally supportive, with several firms raising price targets and maintaining buy-type ratings, while Weiss Ratings downgraded the stock to hold. The broader consensus remains Moderate Buy, with an average target price of $247.59.
• The company continues to show solid fundamentals, reporting earnings of $4.22 per share versus estimates of $3.16 and revenue of $32.38 billion, while also paying a quarterly dividend of $1.20 per share for a 1.6% yield.

Valero Energy Corporation (NYSE:VLO - Get Free Report) shares hit a new 52-week high on Monday . The stock traded as high as $287.05 and last traded at $287.5160, with a volume of 1931882 shares. The stock had previously closed at $280.69.

Analyst Upgrades and Downgrades

VLO has been the subject of several research reports. Raymond James Financial boosted their price target on shares of Valero Energy from $215.00 to $290.00 and gave the stock a "strong-buy" rating in a research note on Wednesday, March 25th. Barclays lifted their target price on Valero Energy from $261.00 to $279.00 and gave the company an "overweight" rating in a report on Wednesday, July 1st. Scotiabank boosted their target price on Valero Energy from $178.00 to $226.00 and gave the stock a "sector outperform" rating in a research note on Wednesday, April 22nd. Weiss Ratings downgraded Valero Energy from a "buy (b-)" rating to a "hold (c+)" rating in a report on Wednesday. Finally, UBS Group reaffirmed a "buy" rating and issued a $280.00 price target on shares of Valero Energy in a research report on Thursday, June 11th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $247.59.

Valero Energy Trading Up 3.7%

The stock has a market cap of $86.46 billion, a price-to-earnings ratio of 21.21, a P/E/G ratio of 0.35 and a beta of 0.55. The business's 50 day moving average is $253.35 and its 200 day moving average is $224.99. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.58 and a quick ratio of 1.15.

Valero Energy (NYSE:VLO - Get Free Report) last posted its quarterly earnings results on Thursday, April 30th. The oil and gas company reported $4.22 earnings per share for the quarter, beating analysts' consensus estimates of $3.16 by $1.06. The company had revenue of $32.38 billion for the quarter, compared to analysts' expectations 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% on a year-over-year basis. During the same period last year, the firm earned $0.89 earnings per share. As a group, equities analysts expect that Valero Energy Corporation will post 31.04 earnings per share for the current fiscal year.

Valero Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 23rd. Stockholders of record on Thursday, May 21st were given a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend was Thursday, May 21st. Valero Energy's dividend payout ratio (DPR) is 34.88%.

Insiders Place Their Bets

In related news, SVP Eric A. Fisher sold 7,500 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the senior vice president directly owned 19,742 shares of the company's stock, valued at $5,294,212.14. This represents a 27.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.36% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Whipplewood Advisors LLC lifted its position in Valero Energy by 3,400.0% in the first quarter. Whipplewood Advisors LLC now owns 105 shares of the oil and gas company's stock valued at $26,000 after acquiring an additional 102 shares during the last quarter. JPL Wealth Management LLC purchased a new position in shares of Valero Energy during the third quarter worth about $27,000. Financial Life Planners acquired a new stake in shares of Valero Energy during the first quarter worth about $28,000. Valued Wealth Advisors LLC increased its position in shares of Valero Energy by 134.0% during the first quarter. Valued Wealth Advisors LLC now owns 117 shares of the oil and gas company's stock worth $29,000 after purchasing an additional 67 shares in the last quarter. Finally, Torren Management LLC purchased a new stake in shares of Valero Energy in the 4th quarter valued at about $30,000. 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.

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