Valero Energy Co. (NYSE:VLO) to Issue Quarterly Dividend of $1.07

Valero Energy Co. (NYSE:VLO) declared a quarterly dividend on Tuesday, October 29th, RTT News reports. Shareholders of record on Wednesday, November 20th will be given a dividend of 1.07 per share by the oil and gas company on Friday, December 20th. This represents a $4.28 annualized dividend and a yield of 3.35%.

Valero Energy has raised its dividend payment by an average of 1.3% annually over the last three years. Valero Energy has a payout ratio of 40.4% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Valero Energy to earn $10.45 per share next year, which means the company should continue to be able to cover its $4.28 annual dividend with an expected future payout ratio of 41.0%.

Valero Energy Trading Down 3.3 %

NYSE:VLO traded down $4.38 on Tuesday, reaching $127.88. The company’s stock had a trading volume of 3,833,134 shares, compared to its average volume of 2,987,882. The firm has a market cap of $40.97 billion, a PE ratio of 11.47, a PEG ratio of 3.45 and a beta of 1.39. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.04 and a current ratio of 1.48. The business’s 50-day moving average price is $137.89 and its two-hundred day moving average price is $149.45. Valero Energy has a 1-year low of $119.88 and a 1-year high of $184.79.

Valero Energy (NYSE:VLO) last announced its earnings results on Thursday, October 24th. The oil and gas company reported $1.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.16. Valero Energy had a return on equity of 13.01% and a net margin of 2.74%. The business had revenue of $32.88 billion for the quarter, compared to analyst estimates of $31.04 billion. During the same quarter last year, the firm earned $7.49 EPS. Valero Energy’s revenue for the quarter was down 14.4% compared to the same quarter last year. Equities research analysts anticipate that Valero Energy will post 9.6 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on VLO shares. StockNews.com lowered Valero Energy from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th. Scotiabank dropped their price target on Valero Energy from $173.00 to $141.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. Mizuho reduced their price objective on Valero Energy from $175.00 to $171.00 and set an “outperform” rating on the stock in a research report on Monday, September 16th. Wolfe Research began coverage on Valero Energy in a research report on Thursday, July 18th. They issued an “outperform” rating and a $177.00 target price for the company. Finally, BMO Capital Markets reduced their price target on Valero Energy from $175.00 to $165.00 and set an “outperform” rating on the stock in a report on Friday, October 4th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $154.53.

About Valero Energy

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.