Valero Energy Corporation (NYSE:VLO) announced a quarterly dividend on Wednesday, November 1st, RTT News reports. Investors of record on Tuesday, November 21st will be paid 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 3.55%.
Valero Energy Corporation has increased its dividend payment by an average of 41.3% annually over the last three years and has raised its dividend annually for the last 6 consecutive years. Valero Energy Corporation has a payout ratio of 58.3% meaning its dividend is sufficiently covered by earnings. Research analysts expect Valero Energy Corporation to earn $5.98 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 46.8%.
Valero Energy Corporation (NYSE:VLO) last released its quarterly earnings data on Thursday, October 26th. The oil and gas company reported $1.91 EPS for the quarter, topping analysts’ consensus estimates of $1.83 by $0.08. The company had revenue of $23.56 billion during the quarter, compared to the consensus estimate of $19.42 billion. Valero Energy Corporation had a net margin of 2.33% and a return on equity of 9.93%. The firm’s revenue for the quarter was up 19.9% compared to the same quarter last year. During the same period last year, the firm earned $1.24 EPS.
In other 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 transaction of $3,863,514.56. Following the completion of the sale, the chief financial officer now owns 67,413 shares in the company, valued at approximately $4,913,059.44. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Stephen M. Waters sold 1,500 shares of Valero Energy Corporation stock in a transaction that occurred on Wednesday, September 6th. The stock was sold at an average price of $68.00, for a total transaction of $102,000.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 56,768 shares of company stock valued at $4,141,471. 0.45% of the stock is owned by corporate insiders.
Several equities analysts recently issued reports on VLO shares. ValuEngine raised shares of Valero Energy Corporation from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Royal Bank Of Canada reissued a “buy” rating and set a $77.00 price target on shares of Valero Energy Corporation in a report on Thursday, August 31st. Jefferies Group LLC cut their price target on shares of Valero Energy Corporation from $80.00 to $78.00 and set a “buy” rating for the company in a report on Wednesday, August 23rd. Citigroup Inc. cut their price target on shares of Valero Energy Corporation from $70.00 to $68.00 and set a “buy” rating for the company in a report on Monday, July 17th. Finally, BidaskClub raised shares of Valero Energy Corporation from a “hold” rating to a “buy” rating in a report on Wednesday, July 12th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and thirteen have given a buy rating to the company. Valero Energy Corporation has a consensus rating of “Hold” and an average target price of $77.19.
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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