Valero Energy Co. (NYSE:VLO) Announces Quarterly Dividend of $1.07

Valero Energy Co. (NYSE:VLO) announced a quarterly dividend on Tuesday, October 29th,RTT News reports. Investors 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 2.97%. The ex-dividend date is Wednesday, November 20th.

Valero Energy has raised its dividend by an average of 1.3% annually over the last three years. Valero Energy has a dividend payout ratio of 43.1% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Valero Energy to earn $10.05 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 42.6%.

Valero Energy Trading Up 2.7 %

NYSE VLO opened at $144.01 on Tuesday. The business has a 50 day simple moving average of $136.03 and a 200 day simple moving average of $146.26. Valero Energy has a one year low of $120.21 and a one year high of $184.79. The stock has a market capitalization of $45.59 billion, a P/E ratio of 12.92, a P/E/G ratio of 2.57 and a beta of 1.39. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.57 and a quick ratio of 1.11.

Valero Energy (NYSE:VLO) last announced its quarterly earnings data on Thursday, October 24th. The oil and gas company reported $1.14 EPS for the quarter, beating analysts’ consensus estimates of $0.98 by $0.16. Valero Energy had a return on equity of 13.07% and a net margin of 2.74%. The firm had revenue of $32.88 billion during the quarter, compared to analysts’ expectations of $31.04 billion. During the same quarter last year, the firm posted $7.49 earnings per share. The company’s revenue for the quarter was down 14.4% compared to the same quarter last year. Research analysts expect that Valero Energy will post 9.1 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have recently weighed in on VLO. Bank of America began coverage on Valero Energy in a report on Thursday, October 17th. They issued a “neutral” rating and a $150.00 target price on the stock. Piper Sandler lowered Valero Energy from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $169.00 to $123.00 in a report on Friday, September 20th. Wells Fargo & Company upgraded Valero Energy from an “equal weight” rating to an “overweight” rating and dropped their price target for the stock from $172.00 to $165.00 in a report on Wednesday, October 9th. TD Cowen dropped their price target on Valero Energy from $145.00 to $140.00 and set a “buy” rating on the stock in a report on Friday, October 25th. Finally, Mizuho dropped their price target on Valero Energy from $175.00 to $171.00 and set an “outperform” rating on the stock in a report on Monday, September 16th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $155.86.

Valero Energy Company Profile

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.