Valero Energy Co. (NYSE:VLO) declared a quarterly dividend on Thursday, July 16th, RTT News reports. Investors of record on Tuesday, August 4th will be given a dividend of 0.98 per share by the oil and gas company on Wednesday, September 2nd. This represents a $3.92 annualized dividend and a yield of 6.97%. The ex-dividend date of this dividend is Monday, August 3rd.
Valero Energy has increased its dividend by an average of 50.0% annually over the last three years and has raised its dividend annually for the last 9 consecutive years. Valero Energy has a dividend payout ratio of -408.3% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Valero Energy to earn $3.51 per share next year, which means the company may not be able to cover its $3.92 annual dividend with an expected future payout ratio of 111.7%.
NYSE VLO opened at $56.23 on Friday. Valero Energy has a one year low of $31.00 and a one year high of $101.99. The company’s 50 day moving average price is $57.93 and its 200 day moving average price is $63.78. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.89 and a current ratio of 1.31. The firm has a market capitalization of $22.92 billion, a price-to-earnings ratio of 20.83 and a beta of 1.96.
Valero Energy (NYSE:VLO) last posted its quarterly earnings results on Thursday, July 30th. The oil and gas company reported ($1.25) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.41) by $0.16. Valero Energy had a net margin of 1.22% and a return on equity of 5.26%. The firm had revenue of $10.40 billion for the quarter, compared to analyst estimates of $11.46 billion. During the same quarter last year, the firm posted $1.51 earnings per share. Valero Energy’s revenue for the quarter was down 64.1% compared to the same quarter last year. Sell-side analysts forecast that Valero Energy will post -1.71 EPS for the current fiscal year.
A number of analysts have recently issued reports on VLO shares. Goldman Sachs Group lowered shares of Valero Energy from a “buy” rating to a “neutral” rating and set a $68.00 price objective on the stock. in a research note on Tuesday, June 16th. Piper Sandler lifted their price objective on shares of Valero Energy from $76.00 to $77.00 and gave the company an “overweight” rating in a research note on Friday, July 24th. Argus dropped their price objective on shares of Valero Energy from $110.00 to $61.00 and set a “buy” rating on the stock in a research note on Wednesday, April 15th. Raymond James dropped their price objective on shares of Valero Energy from $73.00 to $69.00 and set an “outperform” rating on the stock in a research note on Thursday, July 9th. Finally, Credit Suisse Group lifted their price objective on shares of Valero Energy from $65.00 to $70.00 and gave the company an “outperform” rating in a research note on Monday, May 11th. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $74.14.
Valero Energy Company Profile
Valero Energy Corporation operates as an independent petroleum refining and ethanol producing company in the United States, Canada, the United Kingdom, Ireland, and internationally. It operates through three segments: Refining, Ethanol, and VLP (Valero Energy Partners LP). The company is involved in oil and gas refining, marketing, and bulk selling activities.
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