Valero Energy (NYSE:VLO) Upgraded to Strong-Buy at Tudor Pickering

Tudor Pickering upgraded shares of Valero Energy (NYSE:VLO) from a hold rating to a strong-buy rating in a research note released on Tuesday morning,Zacks.com reports.

Several other analysts have also issued reports on the company. Citigroup dropped their target price on Valero Energy from $192.00 to $176.00 and set a “buy” rating on the stock in a report on Friday, October 25th. Piper Sandler upgraded Valero Energy from a “hold” rating to a “strong-buy” rating in a report on Friday, January 10th. Bank of America assumed coverage on Valero Energy in a report on Thursday, October 17th. They set a “neutral” rating and a $150.00 target price on the stock. Wells Fargo & Company lowered their price target on Valero Energy from $160.00 to $159.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. Finally, Scotiabank lowered their price target on Valero Energy from $173.00 to $141.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Valero Energy presently has a consensus rating of “Moderate Buy” and a consensus target price of $154.46.

Valero Energy Stock Performance

Shares of Valero Energy stock opened at $140.54 on Tuesday. The firm has a market cap of $44.49 billion, a price-to-earnings ratio of 16.57, a price-to-earnings-growth ratio of 2.67 and a beta of 1.42. The stock’s 50-day moving average is $130.82 and its 200-day moving average is $137.31. Valero Energy has a one year low of $116.84 and a one year high of $184.79. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.57 and a quick ratio of 1.11.

Valero Energy (NYSE:VLO) last issued 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%. Equities analysts predict that Valero Energy will post 8.29 earnings per share for the current fiscal year.

Valero Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Thursday, January 30th will be paid a dividend of $1.13 per share. The ex-dividend date of this dividend is Thursday, January 30th. This is a boost from Valero Energy’s previous quarterly dividend of $1.07. This represents a $4.52 annualized dividend and a yield of 3.22%. Valero Energy’s dividend payout ratio is presently 53.30%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of VLO. New Wave Wealth Advisors LLC bought a new position in shares of Valero Energy in the 4th quarter valued at $25,000. Peterson Financial Group Inc. bought a new position in Valero Energy during the 3rd quarter worth $28,000. Tobam bought a new position in Valero Energy during the 4th quarter worth $30,000. Compagnie Lombard Odier SCmA bought a new position in Valero Energy during the 3rd quarter worth $34,000. Finally, True Wealth Design LLC raised its position in Valero Energy by 196.8% during the 3rd quarter. True Wealth Design LLC now owns 276 shares of the oil and gas company’s stock worth $37,000 after purchasing an additional 183 shares during the last quarter. 78.69% of the stock is currently owned by 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.