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Valero Energy Rewards Investors with Quarterly Dividend Hike
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Leading refiner Valero Energy Corporation (VLO - Free Report) recently announced that it has received approval from board of directors to increase its quarterly dividend.
The new dividend of 70 cents per share is 16.7% higher than the prior figure of 60 cents. The increased dividend will be paid on Mar 7, to shareholders on record as of Feb 15. Based on closing price of $67.37 per share on Jan 26, 2017, the stock has a dividend yield of 4.2%.
The company has a solid track record of increasing quarterly dividend, which reflects its financial strength. In fact, Valero’s Current Ratio, which reflects a company’s liquidity, is better than other refining companies. To be precise, Valero’s Current Ratio is 2.05 compared with 1.18 for Phillips 66 (PSX - Free Report) , 1.51 for Marathon Petroleum Corporation (MPC - Free Report) and 1.90 for Tesoro Corporation .
San Antonio, TX-based Valero – the largest independent refiner and marketer of petroleum products in the U.S – is expected to report its fourth-quarter 2016 results before the opening bell on Jan 31, 2017. The Zacks Consensus Estimate for the quarter currently stands at 77 cents. The company has an Earnings ESP of -5.20%.
The company’s price chart for the last three months shows that it has outperformed the Zacks categorized Oil Refining & Marketing industry. During the aforesaid period, shares of the refiner gained almost 15% compared with 11.5% improvement for the broader industry.
Moreover, Valero beat the Zacks Consensus Estimate in three of the last four quarters with an average positive earnings surprise of 13.06%.
However, Valero remains exposed to the Brent-WTI spread, which was negative over a considerable portion of the fourth quarter. This may hurt the company’s quarterly margin.
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Valero Energy Rewards Investors with Quarterly Dividend Hike
Leading refiner Valero Energy Corporation (VLO - Free Report) recently announced that it has received approval from board of directors to increase its quarterly dividend.
The new dividend of 70 cents per share is 16.7% higher than the prior figure of 60 cents. The increased dividend will be paid on Mar 7, to shareholders on record as of Feb 15. Based on closing price of $67.37 per share on Jan 26, 2017, the stock has a dividend yield of 4.2%.
The company has a solid track record of increasing quarterly dividend, which reflects its financial strength. In fact, Valero’s Current Ratio, which reflects a company’s liquidity, is better than other refining companies. To be precise, Valero’s Current Ratio is 2.05 compared with 1.18 for Phillips 66 (PSX - Free Report) , 1.51 for Marathon Petroleum Corporation (MPC - Free Report) and 1.90 for Tesoro Corporation .
San Antonio, TX-based Valero – the largest independent refiner and marketer of petroleum products in the U.S – is expected to report its fourth-quarter 2016 results before the opening bell on Jan 31, 2017. The Zacks Consensus Estimate for the quarter currently stands at 77 cents. The company has an Earnings ESP of -5.20%.
The company’s price chart for the last three months shows that it has outperformed the Zacks categorized Oil Refining & Marketing industry. During the aforesaid period, shares of the refiner gained almost 15% compared with 11.5% improvement for the broader industry.
Moreover, Valero beat the Zacks Consensus Estimate in three of the last four quarters with an average positive earnings surprise of 13.06%.
However, Valero remains exposed to the Brent-WTI spread, which was negative over a considerable portion of the fourth quarter. This may hurt the company’s quarterly margin.
As a result, the company carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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Today, you are invited to download the full list of 220 Zacks Rank #1 ""Strong Buy"" stocks – absolutely free of charge. Since 1988, Zacks Rank #1 stocks have nearly tripled the market, with average gains of +26% per year. Plus, you can access the list of portfolio-killing Zacks Rank #5 ""Strong Sells"" and other private research. See these stocks free >>