1832 Asset Management L.P. Acquires 457,846 Shares of Valero Energy Corporation $VLO

Key Points

• 1832 Asset Management L.P. significantly increased its stake in Valero Energy Corporation by 62.4% in the first quarter, owning 1,192,084 shares valued at $157.4 million by the end of the period.
• Valero Energy reported earnings of $2.28 per share for the last quarter, exceeding expectations of $1.66, despite a 13.3% decline in revenue year-over-year.
• The company declared a quarterly dividend of $1.13 per share, reflecting an annual yield of 3.2%, with a high dividend payout ratio of 188.33%.

1832 Asset Management L.P. lifted its stake in Valero Energy Corporation (NYSE:VLO - Free Report) by 62.4% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,192,084 shares of the oil and gas company's stock after acquiring an additional 457,846 shares during the quarter. 1832 Asset Management L.P. owned 0.38% of Valero Energy worth $157,439,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently added to or reduced their stakes in VLO. Dark Forest Capital Management LP grew its position in Valero Energy by 352.1% during the fourth quarter. Dark Forest Capital Management LP now owns 9,010 shares of the oil and gas company's stock valued at $1,105,000 after buying an additional 7,017 shares during the period. Price T Rowe Associates Inc. MD grew its position in Valero Energy by 22.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,864,418 shares of the oil and gas company's stock valued at $351,151,000 after buying an additional 525,255 shares during the period. Pinebridge Investments L.P. grew its position in Valero Energy by 40.6% during the fourth quarter. Pinebridge Investments L.P. now owns 33,462 shares of the oil and gas company's stock valued at $4,102,000 after buying an additional 9,664 shares during the period. MGO One Seven LLC grew its position in Valero Energy by 72.0% during the fourth quarter. MGO One Seven LLC now owns 23,337 shares of the oil and gas company's stock valued at $2,861,000 after buying an additional 9,771 shares during the period. Finally, Adage Capital Partners GP L.L.C. grew its position in Valero Energy by 1.6% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 245,800 shares of the oil and gas company's stock valued at $30,133,000 after buying an additional 3,800 shares during the period. 78.69% of the stock is currently owned by institutional investors.

Valero Energy Price Performance

Shares of NYSE:VLO traded up $4.9090 during midday trading on Friday, reaching $145.1990. 2,106,347 shares of the company were exchanged, compared to its average volume of 2,397,712. The company has a current ratio of 1.62, a quick ratio of 1.11 and a debt-to-equity ratio of 0.38. The business's fifty day moving average is $140.59 and its two-hundred day moving average is $130.84. Valero Energy Corporation has a one year low of $99.00 and a one year high of $155.12. The stock has a market cap of $45.11 billion, a PE ratio of 60.50, a price-to-earnings-growth ratio of 3.39 and a beta of 1.03.

Valero Energy (NYSE:VLO - Get Free Report) last issued its earnings results on Thursday, July 24th. The oil and gas company reported $2.28 earnings per share for the quarter, topping analysts' consensus estimates of $1.66 by $0.62. Valero Energy had a net margin of 0.62% and a return on equity of 5.76%. The firm had revenue of $29.89 billion during the quarter, compared to analyst estimates of $27 billion. During the same quarter in the prior year, the business earned $2.71 earnings per share. Valero Energy's revenue for the quarter was down 13.3% on a year-over-year basis. As a group, analysts predict that Valero Energy Corporation will post 7.92 earnings per share for the current year.

Valero Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Thursday, July 31st will be given a dividend of $1.13 per share. The ex-dividend date is Thursday, July 31st. This represents a $4.52 dividend on an annualized basis and a dividend yield of 3.1%. Valero Energy's dividend payout ratio is currently 188.33%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on VLO shares. UBS Group boosted their target price on shares of Valero Energy from $164.00 to $165.00 and gave the company a "buy" rating in a research report on Friday, July 25th. The Goldman Sachs Group upgraded shares of Valero Energy from a "neutral" rating to a "buy" rating and upped their price target for the stock from $127.00 to $154.00 in a research report on Tuesday, May 13th. Piper Sandler upped their price target on shares of Valero Energy from $159.00 to $168.00 and gave the stock an "overweight" rating in a research report on Monday, July 28th. TD Cowen lowered shares of Valero Energy from a "buy" rating to a "hold" rating and upped their price target for the stock from $118.00 to $140.00 in a research report on Tuesday, July 22nd. Finally, Evercore ISI initiated coverage on shares of Valero Energy in a research report on Wednesday, June 18th. They issued an "in-line" rating and a $135.00 price target for the company. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, Valero Energy presently has a consensus rating of "Moderate Buy" and a consensus price target of $154.47.

Valero Energy 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.