2,683 Shares in Valero Energy Corporation $VLO Purchased by New Wave Wealth Advisors LLC

Key Points

• New Wave Wealth Advisors purchased 2,683 Valero Energy shares worth approximately $1.04 million during the third quarter. Institutional investors collectively own 78.69% of VLO.
• Valero reported strong quarterly results, with EPS of $12.54 beating estimates by $2.43 and revenue rising 48.8% year over year to $44.48 billion.
• VLO shares recently fell 1.2% to $439.48, while analysts maintain a “Moderate Buy” consensus rating and an average price target of $382.62.

New Wave Wealth Advisors LLC acquired a new position in Valero Energy Corporation (NYSE:VLO - Free Report) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 2,683 shares of the oil and gas company's stock, valued at approximately $1,040,000.

A number of other hedge funds have also recently made changes to their positions in VLO. Moore Capital Management LP acquired a new position in Valero Energy in the 2nd quarter valued at about $13,193,000. Fort Washington Investment Advisors Inc. OH increased its stake in Valero Energy by 4.2% during the first quarter. Fort Washington Investment Advisors Inc. OH now owns 192,430 shares of the oil and gas company's stock worth $47,546,000 after purchasing an additional 7,702 shares during the period. QRG Capital Management Inc. lifted its position in shares of Valero Energy by 5.5% during the second quarter. QRG Capital Management Inc. now owns 58,558 shares of the oil and gas company's stock worth $15,251,000 after purchasing an additional 3,037 shares in the last quarter. TrueMark Investments LLC acquired a new stake in shares of Valero Energy during the first quarter worth about $8,921,000. Finally, Jennison Associates LLC lifted its position in shares of Valero Energy by 377.1% during the first quarter. Jennison Associates LLC now owns 413,437 shares of the oil and gas company's stock worth $102,152,000 after purchasing an additional 326,777 shares in the last quarter. Hedge funds and other institutional investors own 78.69% of the company's stock.

Valero Energy Stock Down 1.2%

Shares of Valero Energy stock traded down $5.23 on Monday, reaching $439.48. 978,018 shares of the company were exchanged, compared to its average volume of 3,304,504. The stock's 50 day moving average price is $383.13 and its 200-day moving average price is $304.08. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.64 and a quick ratio of 1.23. Valero Energy Corporation has a 1-year low of $156.26 and a 1-year high of $461.52. The company has a market cap of $126.54 billion, a P/E ratio of 18.24, a price-to-earnings-growth ratio of 0.29 and a beta of 0.59.

Valero Energy (NYSE:VLO - Get Free Report) last issued its earnings results on Thursday, July 30th. The oil and gas company reported $12.54 earnings per share 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 firm had revenue of $44.48 billion for the quarter, compared to analysts' expectations of $39.47 billion. During the same quarter last year, the company earned $2.28 earnings per share. The firm's revenue was up 48.8% compared to the same quarter last year. As a group, equities analysts forecast that Valero Energy Corporation will post 51.77 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on VLO. Piper Sandler lifted their price objective on shares of Valero Energy from $329.00 to $435.00 and gave the company an "overweight" rating in a report on Thursday, September 3rd. Bank of America increased their target price on shares of Valero Energy from $395.00 to $414.00 and gave the stock a "neutral" rating in a report on Friday, October 2nd. Raymond James Financial raised their price target on shares of Valero Energy from $350.00 to $450.00 and gave the company a "strong-buy" rating in a research report on Monday, September 14th. Morgan Stanley boosted their price target on shares of Valero Energy from $255.00 to $411.00 and gave the stock an "equal weight" rating in a research note on Monday, September 14th. Finally, Wells Fargo & Company upped their price objective on Valero Energy from $389.00 to $485.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 14th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $382.62.

Valero Energy Profile

Valero Energy Corporation is an international energy company headquartered in San Antonio, Texas. The company's primary business is refining and marketing transportation fuels, including gasoline, diesel, jet fuel and other products used by commercial, industrial and consumer customers.

Valero operates refineries in the United States, Canada and the United Kingdom. Its refining operations also produce asphalt, petrochemical feedstocks and other petroleum-based products. The company markets fuel through wholesale channels and branded retail networks, including Valero, Beacon and Shamrock-branded locations.

In addition to conventional refining, Valero has businesses focused on renewable fuels.

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