Alliancebernstein L.P. Boosts Position in Valero Energy Corporation $VLO

Key Points

• Alliancebernstein L.P. increased its stake in Valero Energy Corporation by 4.3%, owning approximately 0.16% of the company worth about $66.6 million after acquiring additional shares in the first quarter.
• Valero Energy reported a $2.28 earnings per share for the last quarter, exceeding analysts' estimates of $1.66 and demonstrating a 13.3% year-over-year revenue decline with revenues of $29.89 billion.
• The firm announced a quarterly dividend of $1.13 per share, translating to an annualized basis yield of 2.9%, despite a high dividend payout ratio of 188.33%.

Alliancebernstein L.P. raised its stake in Valero Energy Corporation (NYSE:VLO - Free Report) by 4.3% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 504,397 shares of the oil and gas company's stock after acquiring an additional 20,657 shares during the quarter. Alliancebernstein L.P. owned approximately 0.16% of Valero Energy worth $66,616,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in VLO. Wayfinding Financial LLC acquired a new position in shares of Valero Energy in the first quarter worth $26,000. Hazlett Burt & Watson Inc. raised its holdings 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 worth $28,000 after acquiring an additional 130 shares during the last quarter. Ameriflex Group Inc. acquired a new position in shares of Valero Energy in the fourth quarter worth $29,000. Hemington Wealth Management raised its holdings 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 worth $43,000 after acquiring an additional 95 shares during the last quarter. Finally, Iron Horse Wealth Management LLC acquired a new position in shares of Valero Energy in the first quarter worth $44,000. 78.69% of the stock is owned by institutional investors and hedge funds.

Valero Energy Price Performance

Shares of NYSE VLO opened at $156.65 on Friday. Valero Energy Corporation has a fifty-two week low of $99.00 and a fifty-two week high of $159.26. The business has a 50 day moving average price of $143.44 and a two-hundred day moving average price of $132.07. 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 cap of $48.66 billion, a PE ratio of 65.27, a price-to-earnings-growth ratio of 1.86 and a beta of 1.10.

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 for the quarter, beating 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 firm had revenue of $29.89 billion during the quarter, compared to analyst estimates of $27 billion. During the same quarter last year, the firm earned $2.71 EPS. Valero Energy's quarterly revenue was down 13.3% on a year-over-year basis. Sell-side analysts expect that Valero Energy Corporation will post 7.92 earnings per share for the current fiscal year.

Valero Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Thursday, July 31st were paid a dividend of $1.13 per share. This represents a $4.52 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date was Thursday, July 31st. Valero Energy's dividend payout ratio (DPR) is 188.33%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on VLO shares. Evercore ISI began coverage on Valero Energy in a report on Wednesday, June 18th. They issued an "in-line" rating and a $135.00 price target for the company. Morgan Stanley upped their price target on Valero Energy from $145.00 to $160.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 16th. TD Cowen lowered Valero Energy from a "buy" rating to a "hold" rating and increased their target price for the company from $118.00 to $140.00 in a research note on Tuesday, July 22nd. Wolfe Research lowered Valero Energy from an "outperform" rating to a "peer perform" rating in a research note on Monday, July 14th. Finally, Raymond James Financial increased their target price 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. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $156.40.

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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