124,319 Shares in Valero Energy Corporation $VLO Acquired by SIR Capital Management L.P.

Key Points

• SIR Capital Management acquired 124,319 Valero Energy shares worth approximately $32.4 million, making Valero its fifth-largest portfolio holding. Institutional investors collectively own 78.69% of the company.
• Analysts remain broadly bullish, with Valero receiving a consensus “Moderate Buy” rating and a $288 average price target; several firms recently raised targets to between $323 and $357.
• Valero reported strong quarterly results, including $12.54 in EPS versus a $10.11 estimate and revenue of $44.48 billion, up 48.8% year over year. The company also declared a $1.20 quarterly dividend, equivalent to a 1.4% yield.

SIR Capital Management L.P. acquired a new stake in Valero Energy Corporation (NYSE:VLO - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 124,319 shares of the oil and gas company's stock, valued at approximately $32,378,000. Valero Energy comprises approximately 3.7% of SIR Capital Management L.P.'s portfolio, making the stock its 5th biggest position.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. State Street Corp grew its holdings in shares of Valero Energy by 0.9% in the fourth quarter. State Street Corp now owns 18,177,191 shares of the oil and gas company's stock worth $2,959,065,000 after purchasing an additional 163,975 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Valero Energy by 0.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 11,950,982 shares of the oil and gas company's stock worth $1,945,500,000 after buying an additional 63,919 shares during the period. Norges Bank bought a new stake in Valero Energy during the 4th quarter valued at about $1,111,542,000. Franklin Resources Inc. lifted its holdings in Valero Energy by 7.5% during the 4th quarter. Franklin Resources Inc. now owns 5,668,210 shares of the oil and gas company's stock valued at $922,728,000 after buying an additional 394,693 shares in the last quarter. Finally, Bank of America Corp DE boosted its position in Valero Energy by 11.4% in the 1st quarter. Bank of America Corp DE now owns 5,033,310 shares of the oil and gas company's stock valued at $1,243,630,000 after buying an additional 516,975 shares during the period. Hedge funds and other institutional investors own 78.69% of the company's stock.

Insider Transactions at Valero Energy

In related news, SVP Eric A. Fisher sold 7,500 shares of the business's stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $268.17, for a total value of $2,011,275.00. Following the completion of the transaction, the senior vice president owned 19,742 shares of the company's stock, valued at $5,294,212.14. The trade was a 27.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.36% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. The Goldman Sachs Group upped their target price on shares of Valero Energy from $286.00 to $357.00 and gave the stock a "buy" rating in a research note on Wednesday, July 22nd. Jefferies Financial Group set a $350.00 price target on shares of Valero Energy in a research note on Monday, August 3rd. Zacks Research upgraded Valero Energy from a "hold" rating to a "strong-buy" rating in a report on Tuesday, August 4th. Barclays increased their price objective on Valero Energy from $279.00 to $323.00 and gave the stock an "overweight" rating in a research note on Friday, July 31st. Finally, Piper Sandler restated an "overweight" rating and set a $329.00 price objective on shares of Valero Energy in a report on Thursday, July 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Valero Energy presently has a consensus rating of "Moderate Buy" and a consensus price target of $288.00.

Valero Energy Stock Down 0.8%

Shares of Valero Energy stock opened at $346.15 on Tuesday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.64 and a quick ratio of 1.23. The stock has a market cap of $99.67 billion, a price-to-earnings ratio of 14.36, a PEG ratio of 0.23 and a beta of 0.55. The firm's 50-day moving average is $294.91 and its two-hundred day moving average is $255.29. Valero Energy Corporation has a 1 year low of $144.30 and a 1 year high of $353.00.

Valero Energy (NYSE:VLO - Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The oil and gas company reported $12.54 EPS for the quarter, beating the consensus estimate of $10.11 by $2.43. Valero Energy had a net margin of 5.17% and a return on equity of 26.74%. The business had revenue of $44.48 billion during the quarter, compared to analyst estimates of $39.47 billion. During the same quarter in the previous year, the business posted $2.28 EPS. The company's quarterly revenue was up 48.8% compared to the same quarter last year. As a group, research analysts expect that Valero Energy Corporation will post 40.62 earnings per share for the current fiscal year.

Valero Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 31st. Investors of record on Friday, July 31st will be issued a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend is Friday, July 31st. Valero Energy's dividend payout ratio (DPR) is presently 19.92%.

Valero Energy Profile

Valero Energy Corporation is a San Antonio, Texas–based integrated downstream energy company that manufactures and markets transportation fuels, petrochemical feedstocks and other industrial products. The company's operations focus on refining crude oil into finished fuels such as gasoline, diesel and jet fuel, as well as producing asphalt and other refined product streams for commercial and industrial customers.

In addition to refining, Valero has significant operations in renewable fuels, including the production of ethanol and other biofuels, and it manages an extensive logistics network of pipelines, terminals, rail and marine assets to move feedstocks and finished products.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source