Valero Energy (VLO) Declares $1.02 Dividend
Valero Energy said on January 31, 2023 that its board of directors declared a regular quarterly dividend of $1.02 per share ($4.08 annualized). Shareholders of record as of February 13, 2023 will receive the payment on March 16, 2023. Previously, the company paid $0.98 per share.
At the current share price of $136.23 / share, the stock's dividend yield is 2.99%. Looking back five years and taking a sample every week, the average dividend yield has been 4.77%, the lowest has been 2.57%, and the highest has been 12.02%. The standard deviation of yields is 1.68 (n=237).
The current dividend yield is 1.05 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 0.13. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company has not increased its dividend in the last three years.
Analyst Price Forecast Suggests 10.76% Upside
As of February 2, 2023, the average one-year price target for Valero Energy is $150.89. The forecasts range from a low of $126.25 to a high of $177.45. The average price target represents an increase of 10.76% from its latest reported closing price of $136.23.
The projected annual revenue for Valero Energy is $149,328MM, a decrease of 15.34%. The projected annual EPS is $17.08, a decrease of 41.46%.
Fund Sentiment
There are 2312 funds or institutions reporting positions in Valero Energy. This is an increase of 86 owner(s) or 3.86%.
Average portfolio weight of all funds dedicated to US:VLO is 0.4162%, an increase of 2.9318%. Total shares owned by institutions decreased in the last three months by 1.68% to 354,907K shares.
What are large shareholders doing?
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 11,745,800 shares representing 3.05% ownership of the company. In it's prior filing, the firm reported owning 12,020,498 shares, representing a decrease of 2.34%. The firm increased its portfolio allocation in VLO by 2.40% over the last quarter.
XLE - The Energy Select Sector SPDR Fund holds 11,509,839 shares representing 2.99% ownership of the company. In it's prior filing, the firm reported owning 11,404,016 shares, representing an increase of 0.92%. The firm increased its portfolio allocation in VLO by 2.20% over the last quarter.
VFINX - Vanguard 500 Index Fund Investor Shares holds 8,931,207 shares representing 2.32% ownership of the company. In it's prior filing, the firm reported owning 9,031,898 shares, representing a decrease of 1.13%. The firm increased its portfolio allocation in VLO by 2.80% over the last quarter.
Charles Schwab Investment Management holds 8,271,392 shares representing 2.15% ownership of the company. In it's prior filing, the firm reported owning 7,877,898 shares, representing an increase of 4.76%. The firm increased its portfolio allocation in VLO by 8.65% over the last quarter.
Geode Capital Management holds 7,202,286 shares representing 1.87% ownership of the company. In it's prior filing, the firm reported owning 6,959,441 shares, representing an increase of 3.37%. The firm increased its portfolio allocation in VLO by 7.95% over the last quarter.
Valero Energy Background Information
(This description is provided by the company.)
Valero Energy Corporation, through its subsidiaries (collectively, "Valero"), is an international manufacturer and marketer of transportation fuels and petrochemical products. Valero is a Fortune 50 company based in San Antonio, Texas, and it operates 15 petroleum refineries with a combined throughput capacity of approximately 3.2 million barrels per day and 13 ethanol plants with a combined production capacity of approximately 1.68 billion gallons per year. The petroleum refineries are located in the United States (U.S.), Canada and the United Kingdom (U.K.), and the ethanol plants are located in the Mid-Continent region of the U.S. Valero is also a joint venture partner in Diamond Green Diesel, which owns and operates a renewable diesel plant in Norco, Louisiana. Diamond Green Diesel is North America's largest biomass-based diesel plant. Valero sells its products in the wholesale rack or bulk markets in the U.S., Canada, the U.K., Ireland and Latin America. Approximately 7,000 outlets carry Valero's brand names.
This story originally appeared on Fintel.