Angeles Wealth Management LLC Has $1.55 Million Stock Holdings in Valero Energy Corporation $VLO

Key Points

• Angeles Wealth Management increased its Valero Energy position by 87.1% in the second quarter, bringing its holdings to 5,964 shares worth approximately $1.55 million. Institutional investors collectively own 78.69% of Valero’s stock.
• Analysts maintain a generally positive view, with Valero receiving a consensus “Moderate Buy” rating and an average price target of $296.18, despite one recent downgrade to “Hold.”
• Valero reported quarterly earnings of $12.54 per share, beating estimates, while revenue rose 48.8% year over year to $44.48 billion. The company also pays a quarterly dividend of $1.20 per share, equal to a 1.3% annualized yield.

Angeles Wealth Management LLC increased its position in Valero Energy Corporation (NYSE:VLO - Free Report) by 87.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,964 shares of the oil and gas company's stock after purchasing an additional 2,777 shares during the quarter. Angeles Wealth Management LLC's holdings in Valero Energy were worth $1,553,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Whipplewood Advisors LLC raised its position in shares of Valero Energy by 3,400.0% during the 1st quarter. Whipplewood Advisors LLC now owns 105 shares of the oil and gas company's stock valued at $26,000 after acquiring an additional 102 shares during the last quarter. JPL Wealth Management LLC bought a new stake in Valero Energy in the third quarter valued at about $27,000. Financial Life Planners acquired a new position in Valero Energy in the first quarter valued at about $28,000. Valued Wealth Advisors LLC boosted its holdings in Valero Energy by 134.0% during the first quarter. Valued Wealth Advisors LLC now owns 117 shares of the oil and gas company's stock worth $29,000 after buying an additional 67 shares during the last quarter. Finally, AXS Investments LLC bought a new position in Valero Energy during the fourth quarter worth about $32,000. 78.69% of the stock is owned by institutional investors.

Insider Transactions at Valero Energy

In other Valero Energy news, SVP Eric Fisher sold 7,500 shares of Valero Energy stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $268.17, for a total value of $2,011,275.00. Following the sale, the senior vice president owned 19,742 shares of the company's stock, valued at $5,294,212.14. This trade represents a 27.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.36% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. The Goldman Sachs Group upped their price target on Valero Energy from $286.00 to $357.00 and gave the company a "buy" rating in a research note on Wednesday, July 22nd. Barclays lifted their price objective on shares of Valero Energy from $279.00 to $323.00 and gave the stock an "overweight" rating in a research note on Friday, July 31st. Erste Group Bank cut shares of Valero Energy from a "buy" rating to a "hold" rating in a report on Thursday, August 27th. Weiss Ratings raised shares of Valero Energy from a "buy (b-)" rating to a "buy (b)" rating in a research note on Thursday, August 6th. Finally, Citigroup increased their target price on shares of Valero Energy from $259.00 to $302.00 and gave the stock a "neutral" rating in a report on Tuesday, July 14th. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $296.18.

Valero Energy Price Performance

Shares of VLO opened at $370.94 on Friday. The stock has a 50 day simple moving average of $315.25 and a 200 day simple moving average of $264.85. Valero Energy Corporation has a 52-week low of $153.20 and a 52-week high of $375.11. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.23 and a current ratio of 1.64. The firm has a market capitalization of $106.80 billion, a PE ratio of 15.39, a P/E/G ratio of 0.42 and a beta of 0.57.

Valero Energy (NYSE:VLO - Get Free Report) last announced its earnings results on Thursday, July 30th. The oil and gas company reported $12.54 EPS for the quarter, topping the consensus estimate of $10.11 by $2.43. Valero Energy had a net margin of 5.17% and a return on equity of 26.74%. The firm had revenue of $44.48 billion for the quarter, compared to the consensus estimate of $39.47 billion. During the same period last year, the company posted $2.28 EPS. The business's quarterly revenue was up 48.8% on a year-over-year basis. Sell-side analysts predict that Valero Energy Corporation will post 41.15 EPS for the current fiscal year.

Valero Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 31st. Shareholders of record on Friday, July 31st were issued a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date was Friday, July 31st. Valero Energy's dividend payout ratio is 19.92%.

About Valero Energy

Valero Energy Corporation is a San Antonio, Texas–based integrated downstream energy company that manufactures and markets transportation fuels, petrochemical feedstocks and other industrial products. The company's operations focus on refining crude oil into finished fuels such as gasoline, diesel and jet fuel, as well as producing asphalt and other refined product streams for commercial and industrial customers.

In addition to refining, Valero has significant operations in renewable fuels, including the production of ethanol and other biofuels, and it manages an extensive logistics network of pipelines, terminals, rail and marine assets to move feedstocks and finished products.

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