Valero Energy (NYSE:VLO) Shares Gap Down to $75.78

Valero Energy Co. (NYSE:VLO)’s share price gapped down before the market opened on Tuesday . The stock had previously closed at $71.92, but opened at $75.78. Valero Energy shares last traded at $76.14, with a volume of 146,651 shares changing hands.

Several equities analysts have commented on VLO shares. Wells Fargo & Co set a $107.00 price objective on Valero Energy and gave the company a “buy” rating in a research report on Friday, July 26th. Royal Bank of Canada set a $98.00 price objective on Valero Energy and gave the company a “buy” rating in a research report on Friday, July 26th. Goldman Sachs Group raised Valero Energy from a “neutral” rating to a “buy” rating and lowered their price objective for the company from $96.00 to $92.00 in a research report on Thursday, June 6th. Raymond James lifted their price target on Valero Energy from $100.00 to $105.00 and gave the stock an “outperform” rating in a research report on Friday, April 26th. Finally, Morgan Stanley lifted their price target on Valero Energy from $100.00 to $110.00 and gave the stock an “overweight” rating in a research report on Monday, April 15th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $105.47.

The firm has a 50-day moving average price of $82.91. The company has a current ratio of 1.43, a quick ratio of 0.92 and a debt-to-equity ratio of 0.41. The company has a market capitalization of $34.24 billion, a PE ratio of 10.43, a PEG ratio of 1.93 and a beta of 1.48.

Valero Energy (NYSE:VLO) last posted its quarterly earnings results on Thursday, July 25th. The oil and gas company reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.37 by $0.14. The firm had revenue of $28.93 billion during the quarter, compared to analyst estimates of $25.45 billion. Valero Energy had a return on equity of 11.23% and a net margin of 2.27%. Valero Energy’s quarterly revenue was down 6.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.15 EPS. On average, equities research analysts anticipate that Valero Energy Co. will post 5.32 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 4th. Stockholders of record on Tuesday, August 6th will be given a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 4.69%. The ex-dividend date is Monday, August 5th. Valero Energy’s dividend payout ratio is presently 48.85%.

Institutional investors and hedge funds have recently bought and sold shares of the company. Millennium Management LLC increased its holdings in shares of Valero Energy by 125.1% during the 4th quarter. Millennium Management LLC now owns 22,233 shares of the oil and gas company’s stock worth $1,667,000 after purchasing an additional 110,674 shares during the period. Old Port Advisors increased its holdings in shares of Valero Energy by 3.0% during the 1st quarter. Old Port Advisors now owns 6,201 shares of the oil and gas company’s stock worth $526,000 after purchasing an additional 178 shares during the period. Perkins Coie Trust Co increased its holdings in shares of Valero Energy by 1.8% during the 1st quarter. Perkins Coie Trust Co now owns 11,116 shares of the oil and gas company’s stock worth $943,000 after purchasing an additional 195 shares during the period. Rockland Trust Co. increased its holdings in shares of Valero Energy by 2.8% during the 1st quarter. Rockland Trust Co. now owns 11,983 shares of the oil and gas company’s stock worth $1,017,000 after purchasing an additional 321 shares during the period. Finally, Wilsey Asset Management Inc. increased its holdings in shares of Valero Energy by 2.3% during the 1st quarter. Wilsey Asset Management Inc. now owns 189,470 shares of the oil and gas company’s stock worth $16,118,000 after purchasing an additional 4,234 shares during the period. 77.21% of the stock is owned by hedge funds and other institutional investors.

About Valero Energy (NYSE:VLO)

Valero Energy Corporation operates as an independent petroleum refining and ethanol producing company in the United States, Canada, the United Kingdom, Ireland, and internationally. It operates through three segments: Refining, Ethanol, and VLP (Valero Energy Partners LP). The company is involved in oil and gas refining, marketing, and bulk selling activities.

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