Adams Natural Resources Fund Inc. Makes New Investment in Valero Energy Corporation $VLO

Key Points

• Adams Natural Resources Fund Inc. has acquired 78,300 shares of Valero Energy Corporation valued at approximately $10.5 million, making it the fund's 19th largest position.
• Valero Energy reported earnings of $2.28 per share for the last quarter, exceeding analyst estimates of $1.66, with total revenue of $29.89 billion.
• Several analysts have recently adjusted their ratings and price targets for Valero Energy, with average ratings shifting to a "Moderate Buy" and a consensus price target of $173.27.

Adams Natural Resources Fund Inc. acquired a new position in shares of Valero Energy Corporation (NYSE:VLO - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 78,300 shares of the oil and gas company's stock, valued at approximately $10,525,000. Valero Energy comprises approximately 1.7% of Adams Natural Resources Fund Inc.'s holdings, making the stock its 19th largest position.

Several other institutional investors have also recently bought and sold shares of VLO. GAMMA Investing LLC raised its holdings in shares of Valero Energy by 17.3% in the first quarter. GAMMA Investing LLC now owns 10,265 shares of the oil and gas company's stock valued at $1,356,000 after purchasing an additional 1,516 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its holdings in shares of Valero Energy by 3.1% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 69,425 shares of the oil and gas company's stock valued at $9,169,000 after purchasing an additional 2,065 shares during the last quarter. Narwhal Capital Management raised its holdings in shares of Valero Energy by 6.8% in the first quarter. Narwhal Capital Management now owns 50,827 shares of the oil and gas company's stock valued at $6,713,000 after purchasing an additional 3,228 shares during the last quarter. Asset Management One Co. Ltd. raised its holdings in shares of Valero Energy by 3.7% in the first quarter. Asset Management One Co. Ltd. now owns 127,919 shares of the oil and gas company's stock valued at $16,894,000 after purchasing an additional 4,563 shares during the last quarter. Finally, Gerber LLC purchased a new stake in shares of Valero Energy in the first quarter valued at about $356,000. Institutional investors and hedge funds own 78.69% of the company's stock.

Valero Energy Price Performance

Shares of NYSE:VLO opened at $157.76 on Wednesday. The company has a quick ratio of 1.11, a current ratio of 1.62 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $49.01 billion, a PE ratio of 65.73, a P/E/G ratio of 1.61 and a beta of 1.05. Valero Energy Corporation has a twelve month low of $99.00 and a twelve month high of $178.43. The company has a 50-day moving average price of $157.05 and a two-hundred day moving average price of $139.56.

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. The firm had revenue of $29.89 billion during the quarter, compared to analyst estimates of $27 billion. Valero Energy had a net margin of 0.62% and a return on equity of 5.76%. The company's quarterly revenue was down 13.3% on a year-over-year basis. During the same quarter last year, the business earned $2.71 earnings per share. Equities analysts forecast that Valero Energy Corporation will post 7.92 EPS for the current year.

Analyst Upgrades and Downgrades

VLO has been the subject of several analyst reports. Morgan Stanley downgraded shares of Valero Energy from an "overweight" rating to an "equal weight" rating and increased their target price for the company from $160.00 to $175.00 in a report on Friday, October 3rd. UBS Group increased their price target on shares of Valero Energy from $165.00 to $183.00 and gave the company a "buy" rating in a research report on Monday, September 22nd. Raymond James Financial restated a "strong-buy" rating and set a $181.00 price target (up previously from $177.00) on shares of Valero Energy in a research report on Friday, October 17th. Bank of America upgraded shares of Valero Energy from a "neutral" rating to a "buy" rating and increased their price target for the company from $152.00 to $179.00 in a research report on Wednesday, September 3rd. Finally, TD Cowen lowered shares of Valero Energy from a "buy" rating to a "hold" rating and increased their price target for the company from $118.00 to $140.00 in a research report on Tuesday, July 22nd. Three equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $173.27.

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.

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