Valero Energy (NYSE:VLO) Lowered to Equal Weight Rating by Morgan Stanley

Morgan Stanley lowered shares of Valero Energy (NYSE:VLO) from an overweight rating to an equal weight rating in a research note released on Friday, Marketbeat.com reports. Morgan Stanley currently has $175.00 price objective on the oil and gas company’s stock, up from their previous price objective of $160.00.

Other analysts also recently issued reports about the stock. TD Cowen downgraded shares of Valero Energy from a “buy” rating to a “hold” rating and boosted their target price for the stock from $118.00 to $140.00 in a report on Tuesday, July 22nd. 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 report on Wednesday, September 3rd. Wells Fargo & Company raised their price objective on Valero Energy from $151.00 to $168.00 and gave the company an “overweight” rating in a research note on Wednesday, July 9th. Raymond James Financial boosted their target price on Valero Energy from $170.00 to $177.00 and gave the company a “strong-buy” rating in a research report on Tuesday, September 9th. Finally, Citigroup lowered Valero Energy from a “buy” rating to a “neutral” rating and increased their price target for the company from $134.00 to $150.00 in a report on Wednesday, July 16th. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $166.07.

Valero Energy Stock Down 2.6%

Shares of VLO opened at $160.37 on Friday. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.62 and a quick ratio of 1.11. The stock has a market capitalization of $49.82 billion, a price-to-earnings ratio of 66.82, a price-to-earnings-growth ratio of 1.69 and a beta of 1.05. Valero Energy has a 1 year low of $99.00 and a 1 year high of $178.43. The business’s 50 day simple moving average is $151.24 and its 200-day simple moving average is $136.96.

Valero Energy (NYSE:VLO) last posted its earnings results on Thursday, July 24th. The oil and gas company reported $2.28 earnings per share for the quarter, beating analysts’ consensus estimates of $1.66 by $0.62. Valero Energy had a net margin of 0.62% and a return on equity of 5.76%. The firm had revenue of $29.89 billion during the quarter, compared to analyst estimates of $27 billion. During the same period last year, the firm posted $2.71 earnings per share. Valero Energy’s revenue for the quarter was down 13.3% compared to the same quarter last year. As a group, equities analysts expect that Valero Energy will post 7.92 earnings per share for the current fiscal year.

Valero Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Thursday, July 31st were paid a dividend of $1.13 per share. This represents a $4.52 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend was Thursday, July 31st. Valero Energy’s dividend payout ratio (DPR) is currently 188.33%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Wayfinding Financial LLC bought a new position in Valero Energy during the 1st quarter worth about $26,000. Hoey Investments Inc. acquired a new position in shares of Valero Energy during the second quarter worth $26,000. GFG Capital LLC purchased a new stake in Valero Energy in the second quarter valued at about $27,000. Hazlett Burt & Watson Inc. boosted its stake in Valero Energy by 156.6% in the 1st quarter. Hazlett Burt & Watson Inc. now owns 213 shares of the oil and gas company’s stock worth $28,000 after purchasing an additional 130 shares in the last quarter. Finally, Hantz Financial Services Inc. boosted its stake in Valero Energy by 1,277.8% in the 2nd quarter. Hantz Financial Services Inc. now owns 248 shares of the oil and gas company’s stock worth $33,000 after purchasing an additional 230 shares in the last quarter. Institutional investors own 78.69% of the company’s stock.

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.