Valero Energy (NYSE:VLO) Downgraded by Piper Sandler to Neutral

Piper Sandler cut shares of Valero Energy (NYSE:VLO) from an overweight rating to a neutral rating in a report released on Friday morning, Marketbeat.com reports. They currently have $123.00 price objective on the oil and gas company’s stock, down from their prior price objective of $169.00.

Several other research firms have also commented on VLO. Scotiabank upped their price objective on Valero Energy from $165.00 to $173.00 and gave the stock a sector outperform rating in a research report on Friday, July 12th. Wolfe Research started coverage on shares of Valero Energy in a research report on Thursday, July 18th. They set an outperform rating and a $177.00 price target on the stock. Barclays decreased their price objective on shares of Valero Energy from $171.00 to $165.00 and set an overweight rating for the company in a research report on Tuesday, July 9th. Wells Fargo & Company raised their target price on Valero Energy from $165.00 to $172.00 and gave the company an equal weight rating in a research report on Tuesday, September 3rd. Finally, Mizuho reduced their price target on Valero Energy from $175.00 to $171.00 and set an outperform rating for the company in a report on Monday, September 16th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and an average price target of $168.07.

Valero Energy Trading Down 3.0 %

Shares of Valero Energy stock opened at $134.46 on Friday. The stock has a market cap of $43.97 billion, a PE ratio of 6.66, a price-to-earnings-growth ratio of 2.72 and a beta of 1.40. The firm has a fifty day moving average price of $145.42 and a 200 day moving average price of $155.21. Valero Energy has a 1 year low of $119.88 and a 1 year high of $184.79. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.48 and a quick ratio of 1.04.

Valero Energy (NYSE:VLO) last released its quarterly earnings data on Thursday, July 25th. The oil and gas company reported $2.71 earnings per share for the quarter, beating analysts’ consensus estimates of $2.60 by $0.11. Valero Energy had a return on equity of 21.01% and a net margin of 4.25%. The business had revenue of $34.49 billion during the quarter, compared to analyst estimates of $32.97 billion. During the same quarter last year, the business posted $5.40 EPS. The company’s revenue was down .1% on a year-over-year basis. Equities research analysts predict that Valero Energy will post 12.3 earnings per share for the current year.

Valero Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Thursday, August 1st were paid a dividend of $1.07 per share. The ex-dividend date was Thursday, August 1st. This represents a $4.28 annualized dividend and a yield of 3.18%. Valero Energy’s dividend payout ratio (DPR) is presently 21.20%.

Hedge Funds Weigh In On Valero Energy

Several hedge funds and other institutional investors have recently modified their holdings of VLO. Anchor Investment Management LLC lifted its stake in Valero Energy by 508.3% in the 2nd quarter. Anchor Investment Management LLC now owns 10,450 shares of the oil and gas company’s stock worth $1,638,000 after purchasing an additional 8,732 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its position in Valero Energy by 269.8% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 63,095 shares of the oil and gas company’s stock worth $9,891,000 after buying an additional 46,033 shares in the last quarter. Heritage Wealth Management Inc. acquired a new position in Valero Energy during the second quarter worth $3,062,000. Sanctuary Advisors LLC purchased a new stake in Valero Energy in the 2nd quarter valued at $20,826,000. Finally, Clearbridge Investments LLC acquired a new stake in shares of Valero Energy in the 2nd quarter worth $763,000. 78.69% of the stock is owned by hedge funds and other institutional investors.

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.