Valero Energy (NYSE:VLO) Sets New 12-Month Low – Here’s What Happened

Valero Energy Co. (NYSE:VLO)’s stock price reached a new 52-week low on Monday . The stock traded as low as $117.01 and last traded at $117.11, with a volume of 249843 shares changing hands. The stock had previously closed at $118.59.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Mizuho dropped their target price on Valero Energy from $171.00 to $165.00 and set an “outperform” rating on the stock in a report on Monday, December 16th. TD Cowen dropped their price objective on shares of Valero Energy from $145.00 to $140.00 and set a “buy” rating on the stock in a research note on Friday, October 25th. Piper Sandler lowered shares of Valero Energy from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $169.00 to $123.00 in a research note on Friday, September 20th. Bank of America began coverage on shares of Valero Energy in a research note on Thursday, October 17th. They issued a “neutral” rating and a $150.00 price target on the stock. Finally, Scotiabank reduced their price objective on Valero Energy from $173.00 to $141.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. One analyst has rated the stock with a sell rating, four have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Valero Energy currently has a consensus rating of “Moderate Buy” and an average target price of $155.07.

Valero Energy Price Performance

The firm has a market capitalization of $37.18 billion, a P/E ratio of 10.53, a P/E/G ratio of 2.43 and a beta of 1.40. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.11 and a current ratio of 1.57. The stock has a 50 day moving average of $134.36 and a two-hundred day moving average of $142.13.

Valero Energy (NYSE:VLO) last posted 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 net margin of 2.74% and a return on equity of 13.07%. The business had revenue of $32.88 billion for the quarter, compared to analyst estimates of $31.04 billion. During the same period last year, the business posted $7.49 EPS. Valero Energy’s revenue was down 14.4% compared to the same quarter last year. Sell-side analysts predict that Valero Energy Co. will post 8.86 earnings per share for the current fiscal year.

Valero Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Wednesday, November 20th were paid a $1.07 dividend. The ex-dividend date was Wednesday, November 20th. This represents a $4.28 annualized dividend and a dividend yield of 3.64%. Valero Energy’s payout ratio is 38.39%.

Hedge Funds Weigh In On Valero Energy

Large investors have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC raised its position in shares of Valero Energy by 1.8% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,293,589 shares of the oil and gas company’s stock valued at $174,673,000 after buying an additional 22,571 shares during the last quarter. Captrust Financial Advisors raised its holdings in Valero Energy by 7.5% in the 3rd quarter. Captrust Financial Advisors now owns 89,762 shares of the oil and gas company’s stock valued at $12,121,000 after acquiring an additional 6,278 shares in the last quarter. HITE Hedge Asset Management LLC lifted its position in shares of Valero Energy by 136.1% in the 3rd quarter. HITE Hedge Asset Management LLC now owns 75,117 shares of the oil and gas company’s stock worth $10,143,000 after acquiring an additional 43,299 shares during the period. Ameriprise Financial Inc. grew its holdings in shares of Valero Energy by 2.8% during the 2nd quarter. Ameriprise Financial Inc. now owns 6,956,743 shares of the oil and gas company’s stock worth $1,090,532,000 after purchasing an additional 192,397 shares in the last quarter. Finally, Foster & Motley Inc. increased its position in shares of Valero Energy by 23.3% during the third quarter. Foster & Motley Inc. now owns 20,802 shares of the oil and gas company’s stock valued at $2,809,000 after purchasing an additional 3,934 shares during the period. 78.69% of the stock is currently owned by institutional investors and hedge funds.

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.