47,571 Shares in Valero Energy Corporation (NYSE:VLO) Acquired by GQG Partners LLC

Key Points

• GQG Partners LLC has acquired a new position in Valero Energy Corporation, purchasing 47,571 shares valued at approximately $6.3 million in the first quarter of the year.
• Valero Energy recently reported a quarterly earnings of $2.28 per share, exceeding analysts' expectations, despite a 13.3% decline in revenue year-over-year.
• The company declared a quarterly dividend of $1.13, with an annual yield of 3.4% and a dividend payout ratio of 188.33%.

GQG Partners LLC acquired a new position in 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 fund acquired 47,571 shares of the oil and gas company's stock, valued at approximately $6,283,000.

Other hedge funds also recently added to or reduced their stakes in the company. Kestra Private Wealth Services LLC raised its holdings in Valero Energy by 18.5% in the 1st quarter. Kestra Private Wealth Services LLC now owns 22,402 shares of the oil and gas company's stock worth $2,959,000 after acquiring an additional 3,503 shares during the last quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund purchased a new position in Valero Energy in the 1st quarter worth approximately $766,000. Sendero Wealth Management LLC raised its holdings in Valero Energy by 11.0% in the 1st quarter. Sendero Wealth Management LLC now owns 20,198 shares of the oil and gas company's stock worth $2,668,000 after acquiring an additional 2,000 shares during the last quarter. AlTi Global Inc. grew its position in Valero Energy by 18.2% in the 4th quarter. AlTi Global Inc. now owns 64,793 shares of the oil and gas company's stock worth $8,585,000 after purchasing an additional 9,963 shares during the period. Finally, Focus Partners Advisor Solutions LLC grew its position in Valero Energy by 130.0% in the 4th quarter. Focus Partners Advisor Solutions LLC now owns 7,884 shares of the oil and gas company's stock worth $967,000 after purchasing an additional 4,456 shares during the period. 78.69% of the stock is currently owned by hedge funds and other institutional investors.

Valero Energy Stock Up 1.1%

Shares of NYSE VLO opened at $133.24 on Wednesday. The firm's 50-day moving average price is $139.27 and its 200-day moving average price is $130.84. 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 stock has a market capitalization 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. Valero Energy Corporation has a 12-month low of $99.00 and a 12-month high of $155.12.

Valero Energy (NYSE:VLO - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The oil and gas company reported $2.28 earnings per share for the quarter, beating 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 business had revenue of $29.89 billion for the quarter, compared to analysts' expectations of $27 billion. During the same quarter in the previous year, the business posted $2.71 earnings per share. The business's revenue was down 13.3% compared to the same quarter last year. On average, equities research analysts anticipate that Valero Energy Corporation will post 7.92 EPS for the current fiscal year.

Valero Energy Announces Dividend

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

Analyst Ratings Changes

A number of research firms have commented on VLO. Mizuho lifted their target price on shares of Valero Energy from $158.00 to $166.00 and gave the stock an "outperform" rating in a research report on Tuesday, May 13th. JPMorgan Chase & Co. cut their target price on shares of Valero Energy from $152.00 to $147.00 and set an "overweight" rating for the company in a research report on Monday, April 28th. Barclays lifted their target price on shares of Valero Energy from $140.00 to $141.00 and gave the stock an "overweight" rating in a research report on Monday, May 12th. Evercore ISI began coverage on shares of Valero Energy in a research report on Wednesday, June 18th. They issued an "in-line" rating and a $135.00 target price for the company. Finally, Wells Fargo & Company lifted their target price on shares of Valero Energy from $151.00 to $168.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 9th. Five investment 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 stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price 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.

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