Valero Energy (NYSE:VLO) Reaches New 52-Week High – Here’s What Happened

Shares of Valero Energy Corporation (NYSE:VLO) hit a new 52-week high during trading on Monday . The company traded as high as $215.24 and last traded at $209.3650, with a volume of 863886 shares trading hands. The stock had previously closed at $204.64.

Analysts Set New Price Targets

Several brokerages recently issued reports on VLO. UBS Group reiterated a “buy” rating on shares of Valero Energy in a research note on Tuesday, January 6th. Erste Group Bank assumed coverage on Valero Energy in a research note on Monday, November 10th. They set a “buy” rating for the company. Citigroup increased their price target on Valero Energy from $190.00 to $212.00 and gave the company a “neutral” rating in a research note on Monday, February 9th. Piper Sandler lifted their price objective on shares of Valero Energy from $217.00 to $220.00 and gave the stock an “overweight” rating in a research report on Friday, January 30th. Finally, Zacks Research downgraded shares of Valero Energy from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 20th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $187.67.

Valero Energy Price Performance

The company has a current ratio of 1.64, a quick ratio of 1.11 and a debt-to-equity ratio of 0.36. The company has a 50 day moving average of $185.80 and a 200-day moving average of $172.22. The firm has a market capitalization of $64.89 billion, a P/E ratio of 27.92, a P/E/G ratio of 1.07 and a beta of 0.70.

Valero Energy (NYSE:VLO) last posted its earnings results on Thursday, January 29th. The oil and gas company reported $3.82 earnings per share for the quarter, topping analysts’ consensus estimates of $3.27 by $0.55. Valero Energy had a return on equity of 12.35% and a net margin of 1.91%.The firm’s revenue was down 1.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.64 earnings per share. On average, sell-side analysts predict that Valero Energy Corporation will post 7.92 EPS for the current year.

Valero Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 9th. Shareholders of record on Thursday, February 5th will be issued a $1.20 dividend. The ex-dividend date of this dividend is Thursday, February 5th. This represents a $4.80 dividend on an annualized basis and a yield of 2.3%. This is an increase from Valero Energy’s previous quarterly dividend of $1.13. Valero Energy’s payout ratio is presently 62.83%.

Institutional Investors Weigh In On Valero Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in VLO. Woodline Partners LP lifted its position in shares of 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 acquiring an additional 7,735 shares during the period. Sivia Capital Partners LLC lifted its position in Valero Energy by 13.0% during the second quarter. Sivia Capital Partners LLC now owns 1,929 shares of the oil and gas company’s stock worth $259,000 after purchasing an additional 222 shares during the period. AlphaQuest LLC grew its stake in Valero Energy by 19.6% during the second quarter. AlphaQuest LLC now owns 1,189 shares of the oil and gas company’s stock worth $160,000 after buying an additional 195 shares in the last quarter. Arkadios Wealth Advisors increased its holdings in Valero Energy by 9.5% in the 2nd quarter. Arkadios Wealth Advisors now owns 8,658 shares of the oil and gas company’s stock valued at $1,164,000 after buying an additional 754 shares during the period. Finally, Hantz Financial Services Inc. raised its position in shares of Valero Energy by 1,277.8% in the 2nd quarter. Hantz Financial Services Inc. now owns 248 shares of the oil and gas company’s stock valued at $33,000 after buying an additional 230 shares in the last quarter. 78.69% of the stock is currently owned by institutional investors and hedge funds.

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.