Valero Energy (NYSE:VLO) Downgraded by Piper Sandler

Piper Sandler downgraded shares of Valero Energy (NYSE:VLO) from an overweight rating to a neutral rating in a research report report published on Friday morning, Marketbeat reports. The brokerage currently has $123.00 target price on the oil and gas company’s stock, down from their previous target price of $169.00.

A number of other research analysts have also weighed in on VLO. Mizuho cut their target price on shares of Valero Energy from $175.00 to $171.00 and set an outperform rating for the company in a report on Monday, September 16th. StockNews.com cut shares of Valero Energy from a buy rating to a hold rating in a research report on Wednesday, July 17th. Scotiabank lifted their price target 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. JPMorgan Chase & Co. decreased their price objective on Valero Energy from $178.00 to $172.00 and set an overweight rating on the stock in a research report on Tuesday, July 2nd. Finally, Wolfe Research started coverage on Valero Energy in a report on Thursday, July 18th. They issued an outperform rating and a $177.00 target price for the company. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Valero Energy currently has a consensus rating of Moderate Buy and a consensus target price of $168.07.

Valero Energy Trading Down 3.0 %

NYSE VLO opened at $134.46 on Friday. Valero Energy has a 12 month low of $119.88 and a 12 month high of $184.79. The stock’s fifty day moving average price is $145.42 and its 200-day moving average price is $155.21. The stock has a market cap of $43.97 billion, a P/E ratio of 6.66, a P/E/G ratio of 2.72 and a beta of 1.40. The company has a current ratio of 1.48, a quick ratio of 1.04 and a debt-to-equity ratio of 0.34.

Valero Energy (NYSE:VLO) last released its quarterly earnings data on Thursday, July 25th. The oil and gas company reported $2.71 EPS for the quarter, beating the consensus estimate of $2.60 by $0.11. Valero Energy had a return on equity of 21.01% and a net margin of 4.25%. The company had revenue of $34.49 billion for the quarter, compared to analysts’ expectations of $32.97 billion. During the same period last year, the firm posted $5.40 earnings per share. Valero Energy’s revenue was down .1% compared to the same quarter last year. As a group, equities analysts forecast that Valero Energy will post 12.3 EPS for the current fiscal year.

Valero Energy Dividend Announcement

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in VLO. EdgeRock Capital LLC purchased a new stake in shares of Valero Energy during the second quarter worth about $27,000. Lynx Investment Advisory acquired a new position in Valero Energy during the 2nd quarter valued at approximately $29,000. Pathway Financial Advisers LLC purchased a new position in shares of Valero Energy in the first quarter worth $33,000. Rise Advisors LLC acquired a new stake in shares of Valero Energy during the first quarter worth $33,000. Finally, Summit Securities Group LLC acquired a new position in shares of Valero Energy in the 2nd quarter valued at $31,000. 78.69% of the stock is currently owned by hedge funds and other institutional investors.

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.