Valero Energy Corporation (NYSE:VLO) declared a quarterly dividend on Wednesday, November 1st, RTT News reports. Stockholders of record on Tuesday, November 21st will be given a dividend of 0.70 per share by the oil and gas company on Tuesday, December 12th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.44%. The ex-dividend date of this dividend is Monday, November 20th.
Valero Energy Corporation has raised its dividend payment by an average of 41.3% per year over the last three years and has increased its dividend every year for the last 6 years. Valero Energy Corporation has a payout ratio of 58.0% indicating that its dividend is sufficiently covered by earnings. Analysts expect Valero Energy Corporation to earn $6.14 per share next year, which means the company should continue to be able to cover its $2.80 annual dividend with an expected future payout ratio of 45.6%.
Valero Energy Corporation (NYSE:VLO) opened at $81.37 on Wednesday. Valero Energy Corporation has a 1 year low of $60.35 and a 1 year high of $82.19. The stock has a market cap of $35,299.66, a PE ratio of 17.42, a PEG ratio of 1.68 and a beta of 1.17. The company has a current ratio of 1.91, a quick ratio of 1.24 and a debt-to-equity ratio of 0.39.
Valero Energy Corporation (NYSE:VLO) last announced its quarterly earnings results on Thursday, October 26th. The oil and gas company reported $1.91 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.83 by $0.08. Valero Energy Corporation had a net margin of 2.33% and a return on equity of 9.87%. The business had revenue of $23.56 billion for the quarter, compared to analysts’ expectations of $19.42 billion. During the same quarter last year, the firm earned $1.24 EPS. The firm’s revenue for the quarter was up 19.9% compared to the same quarter last year. research analysts forecast that Valero Energy Corporation will post 4.83 earnings per share for the current fiscal year.
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Several equities analysts recently weighed in on VLO shares. J P Morgan Chase & Co cut shares of Valero Energy Corporation from an “overweight” rating to a “neutral” rating and raised their price target for the company from $75.00 to $78.00 in a research report on Friday, October 6th. Cowen and Company raised their price target on shares of Valero Energy Corporation from $70.00 to $90.00 and gave the company an “outperform” rating in a research report on Thursday, September 28th. Barclays PLC reaffirmed an “overweight” rating and issued a $86.00 price target (up previously from $85.00) on shares of Valero Energy Corporation in a research report on Tuesday, October 10th. UBS AG reaffirmed a “neutral” rating and issued a $80.00 price target (up previously from $69.00) on shares of Valero Energy Corporation in a research report on Wednesday, September 27th. Finally, Scotiabank set a $70.00 price target on shares of Valero Energy Corporation and gave the company a “buy” rating in a research report on Thursday, July 27th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and twelve have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $79.19.
In related news, CFO Michael S. Ciskowski sold 53,012 shares of Valero Energy Corporation stock in a transaction that occurred on Tuesday, September 19th. The shares were sold at an average price of $72.88, for a total value of $3,863,514.56. Following the completion of the transaction, the chief financial officer now directly owns 67,413 shares in the company, valued at approximately $4,913,059.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Stephen M. Waters sold 656 shares of Valero Energy Corporation stock in a transaction that occurred on Thursday, September 28th. The shares were sold at an average price of $75.86, for a total transaction of $49,764.16. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 56,768 shares of company stock valued at $4,141,471. 0.45% of the stock is currently owned by company insiders.
About Valero Energy Corporation
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.
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