Adell Harriman & Carpenter Inc. Buys 7,517 Shares of Valero Energy Corporation (NYSE:VLO)

Adell Harriman & Carpenter Inc. grew its stake in Valero Energy Corporation (NYSE:VLO - Free Report) by 10.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 81,120 shares of the oil and gas company's stock after purchasing an additional 7,517 shares during the quarter. Adell Harriman & Carpenter Inc.'s holdings in Valero Energy were worth $10,714,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Wayfinding Financial LLC bought a new position in shares of Valero Energy in the 1st quarter worth about $26,000. Ameriflex Group Inc. bought a new position in shares of Valero Energy in the 4th quarter worth about $29,000. OFI Invest Asset Management bought a new position in shares of Valero Energy in the 4th quarter worth about $37,000. Millstone Evans Group LLC bought a new position in shares of Valero Energy in the 4th quarter worth about $44,000. Finally, SBI Securities Co. Ltd. bought a new position in shares of Valero Energy in the 4th quarter worth about $52,000. 78.69% of the stock is owned by hedge funds and other institutional investors.

Valero Energy Stock Performance

VLO opened at $143.53 on Friday. The company has a current ratio of 1.56, a quick ratio of 1.09 and a debt-to-equity ratio of 0.39. The company has a market cap of $44.96 billion, a price-to-earnings ratio of 50.72, a PEG ratio of 2.50 and a beta of 1.00. The company's 50 day moving average is $130.58 and its 200 day moving average is $128.11. Valero Energy Corporation has a 12-month low of $99.00 and a 12-month high of $167.78.

Valero Energy (NYSE:VLO - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The oil and gas company reported $0.89 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.16 by ($0.27). The business had revenue of $28.76 billion during the quarter, compared to analysts' expectations of $28.54 billion. Valero Energy had a return on equity of 6.30% and a net margin of 0.72%. The business's quarterly revenue was down 4.7% compared to the same quarter last year. During the same period in the previous year, the business posted $3.82 EPS. On average, equities research analysts predict that Valero Energy Corporation will post 7.92 EPS for the current year.

Valero Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Tuesday, May 20th were issued a dividend of $1.13 per share. This represents a $4.52 annualized dividend and a yield of 3.15%. The ex-dividend date of this dividend was Tuesday, May 20th. Valero Energy's dividend payout ratio is currently 159.72%.

Wall Street Analysts Forecast Growth

VLO has been the subject of several research reports. Scotiabank decreased their price target on shares of Valero Energy from $156.00 to $136.00 and set a "sector outperform" rating for the company in a research note on Friday, April 11th. Mizuho raised their price objective on shares of Valero Energy from $158.00 to $166.00 and gave the company an "outperform" rating in a research note on Tuesday, May 13th. Barclays raised their price objective on shares of Valero Energy from $140.00 to $141.00 and gave the company an "overweight" rating in a research note on Monday, May 12th. Piper Sandler reduced their price objective on shares of Valero Energy from $144.00 to $140.00 and set an "overweight" rating for the company in a research note on Friday, May 9th. Finally, TD Cowen reduced their price objective on shares of Valero Energy from $121.00 to $118.00 and set a "buy" rating for the company in a research note on Friday, April 25th. Three research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Valero Energy presently has a consensus rating of "Moderate Buy" and an average target price of $150.88.

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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