Arrowpoint Investment Partners Singapore Pte. Ltd. Acquires New Stake in Valero Energy Corporation (NYSE:VLO)

Key Points

• Arrowpoint Investment Partners Singapore acquired a new stake in Valero Energy Corporation, purchasing 2,670 shares valued at approximately $353,000 in the first quarter.
• Valero Energy reported earnings of $2.28 per share for the last quarter, exceeding estimates by $0.62, despite a 13.3% decline in revenue year-over-year.
• The company declared a quarterly dividend of $1.13 per share, representing a 3.4% dividend yield; the dividend payout ratio currently stands at 188.33%.

Arrowpoint Investment Partners Singapore Pte. Ltd. acquired a new stake in Valero Energy Corporation (NYSE:VLO - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,670 shares of the oil and gas company's stock, valued at approximately $353,000.

A number of other institutional investors and hedge funds have also bought and sold shares of VLO. Wayfinding Financial LLC acquired a new stake in Valero Energy during the 1st quarter worth about $26,000. 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 during the period. Ameriflex Group Inc. acquired a new stake in Valero Energy during the 4th quarter worth about $29,000. Hemington Wealth Management grew its holdings in Valero Energy by 39.9% during the 1st 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 period. Finally, Iron Horse Wealth Management LLC acquired a new stake in Valero Energy during the 1st quarter worth about $44,000. 78.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Evercore ISI assumed coverage on Valero Energy in a research note on Wednesday, June 18th. They issued an "in-line" rating and a $135.00 target price for the company. Morgan Stanley raised their target price on Valero Energy from $145.00 to $160.00 and gave the company an "overweight" rating in a research note on Wednesday, July 16th. Mizuho raised their target price on Valero Energy from $158.00 to $166.00 and gave the company an "outperform" rating in a research note on Tuesday, May 13th. TD Cowen downgraded Valero Energy from a "buy" rating to a "hold" rating and raised their target price for the company from $118.00 to $140.00 in a research note on Tuesday, July 22nd. Finally, Piper Sandler raised their price target on shares of Valero Energy from $159.00 to $168.00 and gave the company an "overweight" rating in a research report on Monday, July 28th. Five analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Valero Energy has a consensus rating of "Moderate Buy" and a consensus target price of $154.47.

Valero Energy Trading Up 1.1%

Shares of VLO stock opened at $133.24 on Wednesday. The company has a 50 day moving average of $139.27 and a 200-day moving average of $130.84. The company has a quick ratio of 1.11, a current ratio of 1.62 and a debt-to-equity ratio of 0.38. Valero Energy Corporation has a 12-month low of $99.00 and a 12-month high of $155.12. The firm has a market cap of $41.39 billion, a P/E ratio of 55.52, a PEG ratio of 3.12 and a beta of 1.03.

Valero Energy (NYSE:VLO - Get Free Report) last issued 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 during the quarter, compared to analyst estimates of $27 billion. During the same quarter last year, the business posted $2.71 EPS. Valero Energy's quarterly revenue was down 13.3% compared to the same quarter last year. Sell-side analysts anticipate that Valero Energy Corporation will post 7.92 earnings per share for the current year.

Valero Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Thursday, July 31st will be paid a dividend of $1.13 per share. The ex-dividend date is Thursday, July 31st. This represents a $4.52 annualized dividend and a dividend yield of 3.4%. Valero Energy's dividend payout ratio (DPR) is presently 188.33%.

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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