American Alpha Advisors LLC Invests $352,000 in Valero Energy Corporation (NYSE:VLO)

Key Points

• American Alpha Advisors LLC invested approximately $352,000 in Valero Energy Corporation by acquiring 2,665 shares during the first quarter.
• Valero reported $2.28 earnings per share, surpassing analyst estimates of $1.66, but noted a 13.3% revenue decline year-over-year for the quarter.
• The company declared a quarterly dividend of $1.13 per share, with a dividend yield of 3.4% and a high payout ratio of 188.33%.

American Alpha Advisors LLC purchased a new position in Valero Energy Corporation (NYSE:VLO - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,665 shares of the oil and gas company's stock, valued at approximately $352,000.

Several other institutional investors have also recently added to or reduced their stakes in the company. Citizens Financial Group Inc. RI increased its position in shares of Valero Energy by 2.2% in the 1st quarter. Citizens Financial Group Inc. RI now owns 3,798 shares of the oil and gas company's stock valued at $502,000 after buying an additional 82 shares in the last quarter. Proficio Capital Partners LLC increased its position in shares of Valero Energy by 4.6% in the 1st quarter. Proficio Capital Partners LLC now owns 2,012 shares of the oil and gas company's stock valued at $266,000 after buying an additional 89 shares in the last quarter. Hemington Wealth Management increased its position 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. Field & Main Bank increased its position in shares of Valero Energy by 1.2% in the 1st quarter. Field & Main Bank now owns 7,982 shares of the oil and gas company's stock valued at $1,054,000 after buying an additional 97 shares in the last quarter. Finally, Heritage Wealth Management Inc. increased its position in shares of Valero Energy by 0.5% in the 1st quarter. Heritage Wealth Management Inc. now owns 19,349 shares of the oil and gas company's stock valued at $2,555,000 after buying an additional 97 shares in the last quarter. 78.69% of the stock is owned by institutional investors.

Valero Energy Stock Up 2.0%

Shares of NYSE VLO traded up $2.70 during trading hours on Wednesday, hitting $136.08. The company had a trading volume of 2,092,854 shares, compared to its average volume of 3,330,087. 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 stock has a market capitalization of $42.27 billion, a P/E ratio of 56.70, a price-to-earnings-growth ratio of 3.12 and a beta of 1.03. Valero Energy Corporation has a 1-year low of $99.00 and a 1-year high of $155.12. The firm's 50 day moving average is $139.27 and its 200-day moving average is $130.84.

Valero Energy (NYSE:VLO - Get Free Report) last announced 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. 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 for the quarter, compared to analyst estimates of $27 billion. During the same quarter last year, the company earned $2.71 earnings per share. The firm's quarterly revenue was down 13.3% compared to the same quarter last year. On average, 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 declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Thursday, July 31st will be given a $1.13 dividend. This represents a $4.52 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date is Thursday, July 31st. Valero Energy's payout ratio is presently 188.33%.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. The Goldman Sachs Group upgraded shares of Valero Energy from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $127.00 to $154.00 in a report on Tuesday, May 13th. JPMorgan Chase & Co. dropped their price objective on shares of Valero Energy from $152.00 to $147.00 and set an "overweight" rating on the stock in a report on Monday, April 28th. Morgan Stanley raised their price objective on shares of Valero Energy from $145.00 to $160.00 and gave the stock an "overweight" rating in a report on Wednesday, July 16th. Raymond James Financial raised their price objective on shares of Valero Energy from $155.00 to $172.00 and gave the stock a "strong-buy" rating in a report on Tuesday, July 15th. Finally, Citigroup lowered shares of Valero Energy from a "buy" rating to a "neutral" rating and raised their price objective 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 issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $154.47.

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.