Advent Capital Management DE Purchases New Holdings in Valero Energy Corporation (NYSE:VLO)

Key Points

• Advent Capital Management has invested approximately $2.64 million in Valero Energy by acquiring 20,000 shares, indicating growing institutional interest in the company.
• Valero Energy recently reported earnings of $2.28 per share, significantly exceeding the estimated $1.66, alongside a quarterly revenue of $29.89 billion.
• The company announced a quarterly dividend of $1.13, representing a yield of 3.4%, despite a high dividend payout ratio of 188.33%.

Advent Capital Management DE purchased a new stake in Valero Energy Corporation (NYSE:VLO - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 20,000 shares of the oil and gas company's stock, valued at approximately $2,641,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Wayfinding Financial LLC acquired a new stake in shares of Valero Energy in the first quarter valued at about $26,000. Hazlett Burt & Watson Inc. increased its position in shares of Valero Energy by 156.6% in the first 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 during the last quarter. Ameriflex Group Inc. acquired a new stake in shares of Valero Energy in the fourth quarter valued at about $29,000. Iron Horse Wealth Management LLC acquired a new stake in shares of Valero Energy in the first quarter valued at about $44,000. Finally, Hemington Wealth Management increased its position in shares of Valero Energy by 39.9% in the first 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 during the last quarter. Institutional investors and hedge funds own 78.69% of the company's stock.

Valero Energy Stock Performance

Shares of NYSE:VLO traded down $1.49 during trading on Monday, reaching $131.80. 2,122,264 shares of the stock were exchanged, compared to its average volume of 2,994,713. Valero Energy Corporation has a 12 month low of $99.00 and a 12 month high of $155.12. The firm has a market cap of $40.94 billion, a PE ratio of 54.92, a PEG ratio of 3.12 and a beta of 1.03. The stock has a 50-day moving average price of $139.22 and a 200-day moving average price of $130.83. The company has a current ratio of 1.62, a quick ratio of 1.11 and a debt-to-equity ratio of 0.38.

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

Valero Energy Announces Dividend

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. This represents a $4.52 annualized dividend and a dividend yield of 3.4%. The ex-dividend date is Thursday, July 31st. Valero Energy's payout ratio is 188.33%.

Analysts Set New Price Targets

A number of analysts recently issued reports on VLO shares. Wolfe Research downgraded Valero Energy from an "outperform" rating to a "peer perform" rating in a research report on Monday, July 14th. JPMorgan Chase & Co. lowered their target price on Valero Energy from $152.00 to $147.00 and set an "overweight" rating on the stock in a research report on Monday, April 28th. TD Cowen cut Valero Energy from a "buy" rating to a "hold" rating and lifted their price target for the stock from $118.00 to $140.00 in a report on Tuesday, July 22nd. Piper Sandler lifted their price target on Valero Energy from $159.00 to $168.00 and gave the stock an "overweight" rating in a report on Monday, July 28th. Finally, Citigroup cut Valero Energy from a "buy" rating to a "neutral" rating and lifted their price target for the stock from $134.00 to $150.00 in a report on Wednesday, July 16th. Five equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average 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.