Nuveen LLC Purchases New Position in Valero Energy Corporation (NYSE:VLO)

Key Points

• Nuveen LLC has acquired a significant stake of 4,011,992 shares in Valero Energy, valued at approximately $529.86 million, now owning about 1.28% of the company.
• Valero Energy reported a quarterly earnings per share of $2.28, beating expectations, with a revenue of $29.89 billion, although down 13.3% compared to the previous year.
• The company recently announced a quarterly dividend of $1.13 per share, representing an annualized yield of 3.4%, with a payout ratio of 188.33%.

Nuveen LLC acquired a new position in shares of Valero Energy Corporation (NYSE:VLO - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 4,011,992 shares of the oil and gas company's stock, valued at approximately $529,864,000. Nuveen LLC owned 1.28% of Valero Energy at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Wayfinding Financial LLC bought a new position in shares of Valero Energy in the 1st quarter valued at approximately $26,000. Hazlett Burt & Watson Inc. raised its stake in shares of Valero Energy by 156.6% in the 1st quarter. Hazlett Burt & Watson Inc. now owns 213 shares of the oil and gas company's stock valued at $28,000 after acquiring an additional 130 shares in the last quarter. Ameriflex Group Inc. bought a new position in shares of Valero Energy in the 4th quarter valued at approximately $29,000. Hemington Wealth Management raised its stake in shares of Valero Energy by 39.9% in the 1st quarter. Hemington Wealth Management now owns 333 shares of the oil and gas company's stock valued at $43,000 after acquiring an additional 95 shares in the last quarter. Finally, Iron Horse Wealth Management LLC bought a new position in shares of Valero Energy in the 1st quarter valued at approximately $44,000. 78.69% of the stock is currently owned by institutional investors and hedge funds.

Valero Energy Stock Performance

Shares of VLO traded up $1.47 on Tuesday, reaching $133.24. 1,812,282 shares of the stock traded hands, compared to its average volume of 2,969,480. The firm has a market cap of $41.39 billion, a price-to-earnings ratio of 55.52, a P/E/G ratio of 3.12 and a beta of 1.03. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.62 and a quick ratio of 1.11. Valero Energy Corporation has a 12 month low of $99.00 and a 12 month high of $155.12. The stock's 50-day moving average price is $139.27 and its 200-day moving average price is $130.84.

Valero Energy (NYSE:VLO - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The oil and gas company reported $2.28 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.66 by $0.62. The business had revenue of $29.89 billion for the quarter, compared to analysts' expectations of $27 billion. Valero Energy had a return on equity of 5.76% and a net margin of 0.62%. Valero Energy's quarterly revenue was down 13.3% on a year-over-year basis. During the same period in the previous year, the business posted $2.71 earnings per share. Equities analysts forecast that Valero Energy Corporation will post 7.92 EPS for the current fiscal year.

Valero Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Thursday, July 31st will be paid a $1.13 dividend. The ex-dividend date of this dividend is Thursday, July 31st. This represents a $4.52 annualized dividend and a yield of 3.4%. Valero Energy's payout ratio is currently 188.33%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on VLO shares. Barclays raised their price objective on Valero Energy from $140.00 to $141.00 and gave the company an "overweight" rating in a research note on Monday, May 12th. Raymond James Financial raised their price objective on Valero Energy from $155.00 to $172.00 and gave the company a "strong-buy" rating in a research note on Tuesday, July 15th. Mizuho lifted their price target on Valero Energy from $158.00 to $166.00 and gave the stock an "outperform" rating in a research report on Tuesday, May 13th. The Goldman Sachs Group raised Valero Energy from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $127.00 to $154.00 in a research report on Tuesday, May 13th. Finally, Wolfe Research downgraded Valero Energy from an "outperform" rating to a "peer perform" rating in a research report on Monday, July 14th. Five research analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Valero Energy presently has a consensus rating of "Moderate Buy" and a consensus price target of $154.47.

Valero Energy Company 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.