Valero Energy (NYSE:VLO) Reaches New 1-Year Low – Here’s What Happened

Valero Energy Co. (NYSE:VLO)’s share price hit a new 52-week low on Thursday . The company traded as low as $115.41 and last traded at $116.14, with a volume of 5231803 shares changing hands. The stock had previously closed at $133.62.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Tudor Pickering raised shares of Valero Energy from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 4th. Mizuho reduced their price objective on Valero Energy from $165.00 to $158.00 and set an “outperform” rating for the company in a research report on Wednesday, January 8th. Piper Sandler dropped their target price on Valero Energy from $149.00 to $144.00 and set an “overweight” rating on the stock in a research report on Friday, March 7th. Finally, Wells Fargo & Company cut their price target on Valero Energy from $160.00 to $159.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Valero Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $152.67.

Valero Energy Stock Down 8.4 %

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 company’s 50-day moving average price is $131.94 and its 200 day moving average price is $132.97. The stock has a market capitalization of $32.96 billion, a P/E ratio of 12.34, a P/E/G ratio of 2.93 and a beta of 1.36.

Valero Energy (NYSE:VLO) last posted its quarterly earnings results on Thursday, January 30th. The oil and gas company reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.50. Valero Energy had a return on equity of 9.58% and a net margin of 2.13%. As a group, equities analysts expect that Valero Energy Co. will post 7.92 earnings per share for the current year.

Valero Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Thursday, January 30th were given a dividend of $1.13 per share. The ex-dividend date of this dividend was Thursday, January 30th. This represents a $4.52 annualized dividend and a dividend yield of 4.32%. This is a boost from Valero Energy’s previous quarterly dividend of $1.07. Valero Energy’s dividend payout ratio (DPR) is presently 53.30%.

Hedge Funds Weigh In On Valero Energy

A number of hedge funds and other institutional investors have recently modified their holdings of VLO. New Wave Wealth Advisors LLC bought a new position in shares of Valero Energy during the 4th quarter valued at about $25,000. Ameriflex Group Inc. purchased a new stake in shares of Valero Energy in the fourth quarter worth about $29,000. Tobam bought a new position in Valero Energy during the fourth quarter valued at approximately $30,000. OFI Invest Asset Management purchased a new position in Valero Energy during the 4th quarter valued at approximately $37,000. Finally, Golden State Wealth Management LLC bought a new stake in Valero Energy in the 4th quarter worth approximately $38,000. Institutional investors own 78.69% of the company’s stock.

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.