Key Points
- CFO Jason Fraser sold 9,933 Valero shares on Nov. 21 at an average price of $174.02 for proceeds of ~$1,728,540.66, trimming his stake by 6.89% to 134,196 shares valued at roughly $23.35M (SEC filing).
- Valero declared a quarterly dividend of $1.13 per share (ex-dividend and record date Nov. 20, payable Dec. 18), implying a 2.6% yield and a high payout ratio (~94%); the company also beat Q3 EPS estimates ($3.66 vs. $3.15) and carries a consensus analyst target of $182 with mostly Buy/Moderate Buy ratings.
Valero Energy Corporation (NYSE:VLO - Get Free Report) CFO Jason Fraser sold 9,933 shares of Valero Energy stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $174.02, for a total transaction of $1,728,540.66. Following the transaction, the chief financial officer directly owned 134,196 shares in the company, valued at approximately $23,352,787.92. This represents a 6.89% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Valero Energy Stock Performance
VLO stock opened at $174.42 on Tuesday. The company has a quick ratio of 1.09, a current ratio of 1.60 and a debt-to-equity ratio of 0.36. The firm has a market cap of $53.20 billion, a PE ratio of 36.41, a P/E/G ratio of 1.77 and a beta of 1.01. The business has a 50 day moving average of $169.03 and a 200-day moving average of $150.32. Valero Energy Corporation has a 12-month low of $99.00 and a 12-month high of $185.62.
Valero Energy (NYSE:VLO - Get Free Report) last posted its quarterly earnings data on Thursday, October 23rd. The oil and gas company reported $3.66 earnings per share for the quarter, topping the consensus estimate of $3.15 by $0.51. The business had revenue of $32.17 billion for the quarter, compared to analysts' expectations of $28.80 billion. Valero Energy had a return on equity of 8.69% and a net margin of 1.21%.The business's revenue was down 2.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.14 earnings per share. As a group, sell-side analysts expect that Valero Energy Corporation will post 7.92 earnings per share for the current year.
Valero Energy Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 18th. Investors of record on Thursday, November 20th will be given a dividend of $1.13 per share. The ex-dividend date is Thursday, November 20th. This represents a $4.52 annualized dividend and a yield of 2.6%. Valero Energy's dividend payout ratio is presently 94.36%.
Institutional Inflows and Outflows
A number of hedge funds have recently bought and sold shares of VLO. Hoey Investments Inc. bought a new position in shares of Valero Energy in the second quarter worth $26,000. GFG Capital LLC purchased a new stake in Valero Energy during the 2nd quarter worth about $27,000. Highline Wealth Partners LLC boosted its stake in Valero Energy by 70.2% in the 3rd 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 purchased a new position in Valero Energy during the 3rd quarter valued at about $27,000. Finally, Hantz Financial Services Inc. increased its position in shares of Valero Energy by 1,277.8% during the second quarter. Hantz Financial Services Inc. now owns 248 shares of the oil and gas company's stock valued at $33,000 after buying an additional 230 shares during the period. 78.69% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several analysts have commented on VLO shares. JPMorgan Chase & Co. lifted their price objective on shares of Valero Energy from $177.00 to $197.00 and gave the stock an "overweight" rating in a research report on Friday, October 24th. Wells Fargo & Company lifted their price target on shares of Valero Energy from $216.00 to $220.00 and gave the stock an "overweight" rating in a report on Monday, November 10th. Bank of America upgraded Valero Energy from a "neutral" rating to a "buy" rating and upped their price objective for the company from $152.00 to $179.00 in a research note on Wednesday, September 3rd. Jefferies Financial Group raised their target price on Valero Energy from $181.00 to $194.00 and gave the stock a "buy" rating in a research report on Friday, October 10th. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Valero Energy in a research note on Wednesday, October 8th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $182.00.
Get Our Latest Stock Analysis on Valero Energy
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.
Further Reading
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
