Valero Energy (NYSE:VLO) Hits New 1-Year Low After Analyst Downgrade

Valero Energy Co. (NYSE:VLO) shares reached a new 52-week low during trading on Tuesday after Mizuho lowered their price target on the stock from $171.00 to $165.00. Mizuho currently has an outperform rating on the stock. Valero Energy traded as low as $123.63 and last traded at $124.79, with a volume of 247502 shares changing hands. The stock had previously closed at $125.07.

A number of other analysts have also recently weighed in on the stock. Bank of America initiated coverage on shares of Valero Energy in a report on Thursday, October 17th. They set a “neutral” rating and a $150.00 price objective on the stock. The Goldman Sachs Group cut their price target on shares of Valero Energy from $149.00 to $131.00 and set a “sell” rating on the stock in a research note on Monday, September 16th. Piper Sandler downgraded shares of Valero Energy from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $169.00 to $123.00 in a research note on Friday, September 20th. TD Cowen cut their target price on Valero Energy from $145.00 to $140.00 and set a “buy” rating on the stock in a research report on Friday, October 25th. Finally, Barclays reduced their target price on Valero Energy from $146.00 to $140.00 and set an “overweight” rating for the company in a report on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Valero Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $155.07.

Institutional Investors Weigh In On Valero Energy

Several large investors have recently modified their holdings of the stock. Fifth Third Bancorp lifted its position in Valero Energy by 2.5% in the second quarter. Fifth Third Bancorp now owns 14,060 shares of the oil and gas company’s stock valued at $2,204,000 after purchasing an additional 347 shares during the period. Geneos Wealth Management Inc. boosted its stake in shares of Valero Energy by 0.9% in the second quarter. Geneos Wealth Management Inc. now owns 21,675 shares of the oil and gas company’s stock valued at $3,398,000 after buying an additional 194 shares in the last quarter. &PARTNERS acquired a new position in Valero Energy during the second quarter worth $460,000. Catalina Capital Group LLC grew its holdings in Valero Energy by 25.8% during the second quarter. Catalina Capital Group LLC now owns 2,215 shares of the oil and gas company’s stock worth $347,000 after acquiring an additional 454 shares during the period. Finally, Everhart Financial Group Inc. raised its position in Valero Energy by 5.5% in the second quarter. Everhart Financial Group Inc. now owns 1,366 shares of the oil and gas company’s stock worth $214,000 after acquiring an additional 71 shares in the last quarter. Hedge funds and other institutional investors own 78.69% of the company’s stock.

Valero Energy Stock Down 2.5 %

The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.11 and a current ratio of 1.57. The company has a market capitalization of $38.54 billion, a PE ratio of 10.92, a price-to-earnings-growth ratio of 2.43 and a beta of 1.39. The firm’s 50-day simple moving average is $135.31 and its 200 day simple moving average is $142.63.

Valero Energy (NYSE:VLO) last released its quarterly earnings data on Thursday, October 24th. The oil and gas company reported $1.14 EPS for the quarter, topping analysts’ consensus estimates of $0.98 by $0.16. Valero Energy had a net margin of 2.74% and a return on equity of 13.07%. The firm had revenue of $32.88 billion for the quarter, compared to the consensus estimate of $31.04 billion. During the same quarter in the previous year, the firm earned $7.49 earnings per share. The firm’s revenue was down 14.4% on a year-over-year basis. As a group, equities research analysts forecast that Valero Energy Co. will post 8.86 earnings per share for the current year.

Valero Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Wednesday, November 20th will be issued a $1.07 dividend. This represents a $4.28 dividend on an annualized basis and a dividend yield of 3.52%. The ex-dividend date is Wednesday, November 20th. Valero Energy’s dividend payout ratio is currently 38.39%.

About Valero Energy

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.