Valero Energy (NYSE:VLO) Stock Price Down 8.6% – Time to Sell?
by Sarita Garza · The Markets DailyValero Energy Corporation (NYSE:VLO – Get Free Report)’s share price dropped 8.6% on Friday . The stock traded as low as $222.73 and last traded at $220.9290. Approximately 793,262 shares traded hands during mid-day trading, a decline of 79% from the average daily volume of 3,773,780 shares. The stock had previously closed at $241.74.
Analyst Upgrades and Downgrades
VLO has been the subject of several research analyst reports. UBS Group boosted their price objective on Valero Energy from $215.00 to $280.00 and gave the company a “buy” rating in a report on Thursday, April 2nd. JPMorgan Chase & Co. boosted their price objective on Valero Energy from $197.00 to $200.00 and gave the company an “overweight” rating in a report on Thursday, January 8th. Weiss Ratings reissued a “hold (c)” rating on shares of Valero Energy in a report on Wednesday, January 21st. Scotiabank raised Valero Energy to a “strong-buy” rating in a report on Friday, March 27th. Finally, Wall Street Zen raised Valero Energy from a “buy” rating to a “strong-buy” rating in a report on Saturday, April 4th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat, Valero Energy presently has an average rating of “Moderate Buy” and a consensus target price of $230.00.
Check Out Our Latest Research Report on Valero Energy
Valero Energy Stock Performance
The company has a quick ratio of 1.11, a current ratio of 1.64 and a debt-to-equity ratio of 0.36. The stock has a 50 day simple moving average of $224.89 and a 200 day simple moving average of $191.23. The company has a market capitalization of $67.07 billion, a price-to-earnings ratio of 29.36, a P/E/G ratio of 0.51 and a beta of 0.62.
Valero Energy (NYSE:VLO – Get Free Report) last issued its earnings results on Thursday, January 29th. The oil and gas company reported $3.82 EPS for the quarter, beating analysts’ consensus estimates of $3.27 by $0.55. The company had revenue of $30.37 billion during the quarter, compared to the consensus estimate of $28.20 billion. Valero Energy had a return on equity of 12.35% and a net margin of 1.91%.Valero Energy’s quarterly revenue was down 1.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.64 earnings per share. As a group, analysts anticipate that Valero Energy Corporation will post 7.92 earnings per share for the current fiscal year.
Valero Energy Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, March 9th. Shareholders of record on Thursday, February 5th were given a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a yield of 2.1%. This is a positive change from Valero Energy’s previous quarterly dividend of $1.13. The ex-dividend date was Thursday, February 5th. Valero Energy’s payout ratio is currently 62.83%.
Insiders Place Their Bets
In other Valero Energy news, SVP Eric A. Fisher sold 400 shares of the company’s stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $238.60, for a total value of $95,440.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.36% of the stock is owned by company insiders.
Institutional Investors Weigh In On Valero Energy
Institutional investors have recently added to or reduced their stakes in the company. Highline Wealth Partners LLC lifted its position in Valero Energy by 70.2% in the third quarter. Highline Wealth Partners LLC now owns 160 shares of the oil and gas company’s stock worth $27,000 after purchasing an additional 66 shares during the period. JPL Wealth Management LLC acquired a new stake in Valero Energy in the third quarter worth approximately $27,000. Torren Management LLC acquired a new stake in Valero Energy in the fourth quarter worth approximately $30,000. AXS Investments LLC acquired a new stake in Valero Energy in the fourth quarter worth approximately $32,000. Finally, University of Texas Texas AM Investment Management Co. lifted its position in Valero Energy by 157.0% in the fourth quarter. University of Texas Texas AM Investment Management Co. now owns 203 shares of the oil and gas company’s stock worth $33,000 after purchasing an additional 124 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 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.