Valero Energy (NYSE:VLO) Shares Gap Down on Analyst Downgrade

Valero Energy Co. (NYSE:VLOGet Free Report) shares gapped down before the market opened on Tuesday after Barclays lowered their price target on the stock from $171.00 to $165.00. The stock had previously closed at $147.96, but opened at $144.38. Barclays currently has an overweight rating on the stock. Valero Energy shares last traded at $144.90, with a volume of 286,204 shares.

VLO has been the subject of several other reports. Argus cut shares of Valero Energy from a “buy” rating to a “hold” rating in a research note on Thursday, May 16th. UBS Group raised their target price on shares of Valero Energy from $167.00 to $197.00 and gave the company a “buy” rating in a research note on Tuesday, March 26th. Bank of America raised shares of Valero Energy from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $156.00 to $210.00 in a research report on Friday, March 15th. Mizuho reduced their price objective on shares of Valero Energy from $176.00 to $171.00 and set a “neutral” rating for the company in a research report on Thursday, June 20th. Finally, Citigroup lifted their price objective on shares of Valero Energy from $160.00 to $192.00 and gave the stock a “buy” rating in a research report on Thursday, April 18th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Valero Energy has a consensus rating of “Moderate Buy” and an average price target of $171.07.

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Insider Activity at Valero Energy

In other Valero Energy news, Director Kimberly S. Greene sold 720 shares of the business’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $158.12, for a total transaction of $113,846.40. Following the completion of the transaction, the director now owns 13,314 shares of the company’s stock, valued at $2,105,209.68. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.47% of the stock is owned by insiders.

Institutional Trading of Valero Energy

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Csenge Advisory Group grew its holdings in shares of Valero Energy by 8.7% during the second quarter. Csenge Advisory Group now owns 4,355 shares of the oil and gas company’s stock worth $683,000 after purchasing an additional 349 shares during the last quarter. Simplicity Wealth LLC grew its holdings in shares of Valero Energy by 5.4% during the second quarter. Simplicity Wealth LLC now owns 10,480 shares of the oil and gas company’s stock worth $1,643,000 after purchasing an additional 539 shares during the last quarter. Valeo Financial Advisors LLC boosted its holdings in Valero Energy by 16.1% in the second quarter. Valeo Financial Advisors LLC now owns 3,802 shares of the oil and gas company’s stock valued at $596,000 after acquiring an additional 526 shares during the last quarter. Greenfield Savings Bank lifted its stake in Valero Energy by 1.2% in the second quarter. Greenfield Savings Bank now owns 9,317 shares of the oil and gas company’s stock valued at $1,461,000 after buying an additional 107 shares during the period. Finally, CWM LLC lifted its stake in Valero Energy by 20.9% in the second quarter. CWM LLC now owns 18,195 shares of the oil and gas company’s stock valued at $2,852,000 after buying an additional 3,144 shares during the period. 78.69% of the stock is currently owned by institutional investors.

Valero Energy Stock Performance

The company has a quick ratio of 1.10, a current ratio of 1.59 and a debt-to-equity ratio of 0.35. The company has a 50 day simple moving average of $155.52 and a 200-day simple moving average of $151.56. The stock has a market capitalization of $47.38 billion, a price-to-earnings ratio of 7.18, a price-to-earnings-growth ratio of 1.61 and a beta of 1.42.

Valero Energy (NYSE:VLOGet Free Report) last issued its quarterly earnings results on Thursday, April 25th. The oil and gas company reported $3.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.18 by $0.64. Valero Energy had a return on equity of 24.82% and a net margin of 5.01%. The firm had revenue of $31.76 billion for the quarter, compared to analyst estimates of $32.02 billion. During the same period in the previous year, the firm earned $8.27 earnings per share. The company’s revenue was down 12.8% compared to the same quarter last year. As a group, equities research analysts expect that Valero Energy Co. will post 15.34 EPS for the current fiscal year.

Valero Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Thursday, May 30th were given a $1.07 dividend. This represents a $4.28 dividend on an annualized basis and a yield of 2.95%. The ex-dividend date was Thursday, May 30th. Valero Energy’s payout ratio is currently 21.20%.

About Valero Energy

(Get Free Report)

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.

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