Apollon Wealth Management LLC Has $1.47 Million Position in Valero Energy Corporation $VLO

Key Points

• Apollon Wealth Management LLC raised its stake in Valero Energy Corporation by 34.9% during the second quarter, bringing its holdings to $1.47 million worth of shares.
• Valero Energy reported $2.28 earnings per share for the latest quarter, exceeding estimates of $1.66 and showing a revenue of $29.89 billion, despite a 13.3% year-over-year decline.
• The company announced a quarterly dividend of $1.13, with a 2.8% dividend yield, and has a payout ratio currently at 188.33%.

Apollon Wealth Management LLC increased its stake in shares of Valero Energy Corporation (NYSE:VLO - Free Report) by 34.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 10,937 shares of the oil and gas company's stock after purchasing an additional 2,831 shares during the quarter. Apollon Wealth Management LLC's holdings in Valero Energy were worth $1,470,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Hoey Investments Inc. acquired a new stake in shares of Valero Energy during the second quarter worth approximately $26,000. Wayfinding Financial LLC acquired a new stake in Valero Energy in the first quarter valued at approximately $26,000. GFG Capital LLC acquired a new stake in Valero Energy in the second quarter valued at approximately $27,000. Hazlett Burt & Watson Inc. lifted its stake in 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. Finally, Ransom Advisory Ltd acquired a new stake in Valero Energy in the first quarter valued at approximately $43,000. 78.69% of the stock is currently owned by institutional investors and hedge funds.

Valero Energy Trading Up 2.0%

Shares of Valero Energy stock opened at $161.18 on Tuesday. The firm has a market capitalization of $50.07 billion, a PE ratio of 67.16, a price-to-earnings-growth ratio of 1.68 and a beta of 1.05. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.62 and a quick ratio of 1.11. The company's fifty day moving average price is $153.97 and its two-hundred day moving average price is $138.19. Valero Energy Corporation has a 52-week low of $99.00 and a 52-week high of $178.43.

Valero Energy (NYSE:VLO - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The oil and gas company reported $2.28 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $29.89 billion for the quarter, compared to analyst estimates of $27 billion. During the same quarter in the previous year, the firm posted $2.71 EPS. The business's revenue for the quarter was down 13.3% on a year-over-year basis. On average, analysts expect that Valero Energy Corporation will post 7.92 EPS for the current year.

Valero Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Thursday, July 31st were paid a $1.13 dividend. This represents a $4.52 annualized dividend and a dividend yield of 2.8%. The ex-dividend date was Thursday, July 31st. Valero Energy's payout ratio is currently 188.33%.

Analysts Set New Price Targets

A number of analysts have issued reports on VLO shares. Weiss Ratings reiterated a "hold (c)" rating on shares of Valero Energy in a research note on Wednesday, October 8th. Evercore ISI lifted their price target on shares of Valero Energy from $135.00 to $185.00 and gave the company an "in-line" rating in a research report on Friday, September 19th. UBS Group lifted 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. Raymond James Financial lifted their price target on shares of Valero Energy from $170.00 to $177.00 and gave the company a "strong-buy" rating in a research report on Tuesday, September 9th. Finally, Mizuho lifted their price target on shares of Valero Energy from $166.00 to $190.00 and gave the company an "outperform" rating in a research report on Monday, September 15th. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Valero Energy presently has a consensus rating of "Moderate Buy" and a consensus price target of $169.80.

About Valero Energy

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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