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

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

Valero Energy has increased its dividend payment by an average of 1.3% per year 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 Stock Up 0.6 %

Shares of NYSE:VLO opened at $128.69 on Thursday. Valero Energy has a one year low of $119.88 and a one year high of $184.79. The company has a 50 day moving average of $137.31 and a 200-day moving average of $148.99. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.48 and a quick ratio of 1.04. The stock has a market cap of $41.23 billion, a price-to-earnings ratio of 11.54, a P/E/G ratio of 3.45 and a beta of 1.39.

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

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on VLO shares. StockNews.com cut shares of Valero Energy from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th. Bank of America started coverage on shares of Valero Energy in a research note on Thursday, October 17th. They issued a “neutral” rating and a $150.00 price target on the stock. Citigroup cut their price target on shares of Valero Energy from $192.00 to $176.00 and set a “buy” rating on the stock in a research note on Friday, October 25th. Piper Sandler lowered shares of Valero Energy from an “overweight” rating to a “neutral” rating and cut their price target for the company from $169.00 to $123.00 in a research note on Friday, September 20th. Finally, JPMorgan Chase & Co. cut 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 note on Wednesday, October 2nd. 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 assigned a strong buy rating to the stock. Based on data from MarketBeat, Valero Energy has a consensus rating of “Moderate Buy” and an average target price of $156.29.

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.