Valero Energy Co. (NYSE:VLO) to Issue $1.07 Quarterly Dividend

by · The Cerbat Gem

Valero Energy Co. (NYSE:VLO – Get Free Report) announced a quarterly dividend on Tuesday, October 29th, RTT News reports. Shareholders of record on Wednesday, November 20th will be paid a dividend of 1.07 per share by the oil and gas company on Friday, December 20th. This represents a $4.28 annualized dividend and a dividend yield of 3.33%.

Valero Energy has increased its dividend payment by an average of 1.3% annually over the last three years. Valero Energy has a dividend payout ratio of 40.4% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Valero Energy to earn $10.45 per share next year, which means the company should continue to be able to cover its $4.28 annual dividend with an expected future payout ratio of 41.0%.

Valero Energy Price Performance

VLO traded up $0.74 on Wednesday, hitting $128.62. 137,969 shares of the company were exchanged, compared to its average volume of 2,974,317. The business’s fifty day moving average is $137.62 and its 200 day moving average is $149.13. Valero Energy has a fifty-two week low of $119.88 and a fifty-two week high of $184.79. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.04 and a current ratio of 1.48. The firm has a market capitalization of $41.21 billion, a P/E ratio of 11.47, a price-to-earnings-growth ratio of 3.45 and a beta of 1.39.

Valero Energy (NYSE:VLO – Get Free Report) last announced its quarterly earnings results on Thursday, October 24th. The oil and gas company reported $1.14 earnings per share for the quarter, beating analysts’ consensus estimates of $0.98 by $0.16. The business had revenue of $32.88 billion during the quarter, compared to analysts’ expectations of $31.04 billion. Valero Energy had a return on equity of 13.01% and a net margin of 2.74%. The business’s revenue for the quarter was down 14.4% on a year-over-year basis. During the same quarter last year, the business posted $7.49 earnings per share. As a group, sell-side analysts anticipate that Valero Energy will post 9.6 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently commented on VLO shares. JPMorgan Chase & Co. lowered their price target on shares of Valero Energy from $172.00 to $151.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 2nd. Mizuho lowered their target price on Valero Energy from $175.00 to $171.00 and set an “outperform” rating on the stock in a report on Monday, September 16th. Bank of America assumed coverage on Valero Energy in a research report on Thursday, October 17th. They set a “neutral” rating and a $150.00 price target for the company. Barclays reduced their price objective on Valero Energy from $165.00 to $146.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 2nd. Finally, Wolfe Research began coverage on Valero Energy in a research report on Thursday, July 18th. They set an “outperform” rating and a $177.00 price objective for the company. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Valero Energy has an average rating of “Moderate Buy” and an average price target of $154.53.

View Our Latest Stock Report on Valero Energy

Valero Energy Company Profile

(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.

See Also