Allspring Global Investments Holdings LLC Grows Holdings in Valero Energy Corporation $VLO

Key Points

• Allspring Global Investments Holdings LLC increased its stake in Valero Energy Corporation by 19.7%, owning approximately 1.45 million shares valued at $200.09 million.
• Valero reported a **quarterly earnings per share (EPS)** of $2.28, exceeding estimates by $0.62, despite a **13.3% revenue decline** year-over-year.
• The company announced a **dividend of $1.13**, representing a 2.9% annual yield with a high payout ratio of 188.33%.

Allspring Global Investments Holdings LLC grew its stake in Valero Energy Corporation (NYSE:VLO - Free Report) by 19.7% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 1,449,814 shares of the oil and gas company's stock after acquiring an additional 238,602 shares during the period. Allspring Global Investments Holdings LLC owned about 0.46% of Valero Energy worth $200,089,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in VLO. Wayfinding Financial LLC purchased a new stake in shares of Valero Energy in the 1st quarter valued at approximately $26,000. Hoey Investments Inc. purchased a new stake in Valero Energy during the 2nd quarter worth approximately $26,000. GFG Capital LLC acquired a new position in Valero Energy during the 2nd quarter worth approximately $27,000. Hazlett Burt & Watson Inc. grew its holdings in Valero Energy by 156.6% during the 1st 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 in the last quarter. Finally, Hemington Wealth Management boosted its holdings in shares of Valero Energy by 39.9% in the 1st quarter. Hemington Wealth Management now owns 333 shares of the oil and gas company's stock valued at $43,000 after buying an additional 95 shares in the last quarter. 78.69% of the stock is owned by hedge funds and other institutional investors.

Valero Energy Price Performance

Valero Energy stock opened at $158.19 on Monday. Valero Energy Corporation has a 12-month low of $99.00 and a 12-month high of $178.43. The stock has a market capitalization of $49.14 billion, a P/E ratio of 65.91, a P/E/G ratio of 1.68 and a beta of 1.05. The firm's 50-day moving average is $153.45 and its two-hundred day moving average is $137.98. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.62 and a quick ratio of 1.11.

Valero Energy (NYSE:VLO - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The oil and gas company reported $2.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.66 by $0.62. Valero Energy had a net margin of 0.62% and a return on equity of 5.76%. The company had revenue of $29.89 billion for the quarter, compared to analysts' expectations of $27 billion. During the same period last year, the company earned $2.71 EPS. The firm's revenue for the quarter was down 13.3% compared to the same quarter last year. Equities analysts predict that Valero Energy Corporation will post 7.92 earnings per share for the current year.

Valero Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Thursday, July 31st were given a $1.13 dividend. The ex-dividend date of this dividend was Thursday, July 31st. This represents a $4.52 annualized dividend and a dividend yield of 2.9%. Valero Energy's dividend payout ratio (DPR) is currently 188.33%.

Analyst Upgrades and Downgrades

Several research firms recently commented on VLO. Morgan Stanley downgraded shares of Valero Energy from an "overweight" rating to an "equal weight" rating and upped their price target for the company from $160.00 to $175.00 in a research report on Friday, October 3rd. UBS Group upped 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. Weiss Ratings restated a "hold (c)" rating on shares of Valero Energy in a research report on Wednesday, October 8th. Piper Sandler increased their price target on shares of Valero Energy from $171.00 to $200.00 and gave the company an "overweight" rating in a report on Thursday, September 11th. Finally, Evercore ISI increased their price target on shares of Valero Energy from $135.00 to $185.00 and gave the company an "in-line" rating in a report on Friday, September 19th. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $169.80.

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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