Valero Energy (VLO) Research Coverage Started at Credit Suisse Group

Credit Suisse Group assumed coverage on shares of Valero Energy (NYSE:VLO) in a research report released on Wednesday, Marketbeat.com reports. The brokerage issued a neutral rating and a $91.00 price target on the oil and gas company’s stock.

VLO has been the subject of a number of other reports. Zacks Investment Research upgraded shares of Valero Energy from a hold rating to a buy rating and set a $87.00 price target for the company in a research report on Monday, October 16th. Citigroup lifted their price target on shares of Valero Energy from $68.00 to $76.00 and gave the company a buy rating in a research report on Wednesday, October 18th. Cowen reiterated a buy rating and set a $90.00 price target on shares of Valero Energy in a research report on Friday, November 3rd. Scotiabank reiterated a buy rating and set a $84.00 price target on shares of Valero Energy in a research report on Tuesday, November 14th. Finally, ValuEngine upgraded shares of Valero Energy from a hold rating to a buy rating in a research report on Sunday, December 31st. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and nine have assigned a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus price target of $81.41.

Shares of Valero Energy (NYSE VLO) opened at $94.03 on Wednesday. Valero Energy has a twelve month low of $60.69 and a twelve month high of $94.30. The firm has a market capitalization of $41,530.00, a P/E ratio of 20.40, a price-to-earnings-growth ratio of 1.46 and a beta of 1.20. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.91 and a quick ratio of 1.24.

Valero Energy (NYSE:VLO) last announced its quarterly earnings data on Thursday, October 26th. The oil and gas company reported $1.91 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.83 by $0.08. Valero Energy had a return on equity of 9.87% and a net margin of 2.33%. The company had revenue of $23.56 billion for the quarter, compared to analyst estimates of $19.42 billion. During the same quarter in the previous year, the company earned $1.24 EPS. The firm’s revenue for the quarter was up 19.9% compared to the same quarter last year. equities research analysts forecast that Valero Energy will post 5 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 12th. Investors of record on Tuesday, November 21st were given a dividend of $0.70 per share. The ex-dividend date was Monday, November 20th. This represents a $2.80 annualized dividend and a dividend yield of 2.98%. Valero Energy’s dividend payout ratio is currently 60.74%.

In related news, CFO Michael S. Ciskowski sold 45,657 shares of Valero Energy stock in a transaction that occurred on Wednesday, December 20th. The stock was sold at an average price of $88.91, for a total transaction of $4,059,363.87. Following the completion of the transaction, the chief financial officer now directly owns 57,589 shares in the company, valued at approximately $5,120,237.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Michael S. Ciskowski sold 251,530 shares of Valero Energy stock in a transaction that occurred on Wednesday, January 3rd. The stock was sold at an average price of $93.29, for a total value of $23,465,233.70. Following the transaction, the chief financial officer now owns 309,119 shares of the company’s stock, valued at $28,837,711.51. The disclosure for this sale can be found here. Insiders have sold a total of 301,287 shares of company stock valued at $27,860,150 over the last 90 days. Insiders own 0.45% of the company’s stock.

Several institutional investors have recently modified their holdings of the stock. Prudential Financial Inc. raised its position in shares of Valero Energy by 14.5% during the 3rd quarter. Prudential Financial Inc. now owns 3,251,977 shares of the oil and gas company’s stock worth $250,174,000 after purchasing an additional 411,630 shares during the last quarter. Parametric Portfolio Associates LLC raised its position in shares of Valero Energy by 4.8% during the 3rd quarter. Parametric Portfolio Associates LLC now owns 2,182,776 shares of the oil and gas company’s stock worth $167,921,000 after purchasing an additional 99,262 shares during the last quarter. Shelton Capital Management raised its position in shares of Valero Energy by 533.2% during the 3rd quarter. Shelton Capital Management now owns 25,532 shares of the oil and gas company’s stock worth $1,964,000 after purchasing an additional 21,500 shares during the last quarter. Chicago Partners Investment Group LLC raised its position in shares of Valero Energy by 300.6% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 1,863 shares of the oil and gas company’s stock worth $143,000 after purchasing an additional 1,398 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC acquired a new position in Valero Energy in the 3rd quarter valued at $1,696,000. Hedge funds and other institutional investors own 81.31% of the company’s stock.

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About Valero Energy

Valero Energy Corporation (Valero) is an independent petroleum refiner and ethanol producer. The Company’s segments include refining, ethanol and Valero Energy Partners LP (VLP). The refining segment includes its refining operations and the associated marketing activities. The ethanol segment includes its ethanol operations and the associated marketing activities, and logistics assets that support its ethanol operations.

Analyst Recommendations for Valero Energy (NYSE:VLO)

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