Assenagon Asset Management S.A. Raises Holdings in Valero Energy Corporation $VLO

Key Points

• Assenagon Asset Management S.A. increased its holdings in Valero Energy Corporation by 195.5% during the second quarter, owning 119,614 shares worth approximately $16 million.
• Wall Street analysts have mixed views on Valero Energy, with reports indicating a consensus rating of "Moderate Buy" and a target price of $165.00.
• Valero Energy recently declared a quarterly dividend of $1.13 per share, representing a 2.7% yield, despite a high payout ratio of 188.33%.

Assenagon Asset Management S.A. lifted its holdings in shares of Valero Energy Corporation (NYSE:VLO - Free Report) by 195.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 119,614 shares of the oil and gas company's stock after buying an additional 79,137 shares during the period. Assenagon Asset Management S.A.'s holdings in Valero Energy were worth $16,079,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Kestra Private Wealth Services LLC boosted its holdings in Valero Energy by 18.5% in the first quarter. Kestra Private Wealth Services LLC now owns 22,402 shares of the oil and gas company's stock worth $2,959,000 after purchasing an additional 3,503 shares during the last quarter. Hancock Whitney Corp boosted its stake in shares of Valero Energy by 8.9% in the 1st quarter. Hancock Whitney Corp now owns 46,474 shares of the oil and gas company's stock worth $6,138,000 after buying an additional 3,790 shares during the last quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund purchased a new position in shares of Valero Energy in the 1st quarter worth $766,000. Sendero Wealth Management LLC boosted its stake in shares of Valero Energy by 11.0% in the 1st quarter. Sendero Wealth Management LLC now owns 20,198 shares of the oil and gas company's stock worth $2,668,000 after buying an additional 2,000 shares during the last quarter. Finally, FORA Capital LLC purchased a new position in shares of Valero Energy in the 1st quarter worth $866,000. 78.69% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have issued reports on VLO shares. TD Cowen cut Valero Energy from a "buy" rating to a "hold" rating and raised their target price for the stock from $118.00 to $140.00 in a research report on Tuesday, July 22nd. Citigroup downgraded 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. Piper Sandler raised their price objective on shares of Valero Energy from $171.00 to $200.00 and gave the stock an "overweight" rating in a report on Thursday, September 11th. Mizuho lifted their price target on shares of Valero Energy from $166.00 to $190.00 and gave the stock an "outperform" rating in a research note on Monday, September 15th. Finally, Bank of America upgraded shares of Valero Energy from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $152.00 to $179.00 in a research note on Wednesday, September 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, Valero Energy has a consensus rating of "Moderate Buy" and a consensus target price of $165.00.

Valero Energy Stock Performance

Shares of Valero Energy stock opened at $166.52 on Tuesday. The firm has a market cap of $51.73 billion, a P/E ratio of 69.38, a P/E/G ratio of 1.76 and a beta of 1.10. The company has a current ratio of 1.62, a quick ratio of 1.11 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 $167.08. The stock's fifty day moving average price is $146.80 and its 200-day moving average price is $134.42.

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 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 business had revenue of $29.89 billion for the quarter, compared to the consensus estimate of $27 billion. During the same period last year, the business posted $2.71 EPS. The business's revenue was down 13.3% compared to the same quarter last year. On average, equities research analysts expect that Valero Energy Corporation will post 7.92 earnings per share for the current fiscal year.

Valero Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Thursday, July 31st were given a dividend of $1.13 per share. This represents a $4.52 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend was Thursday, July 31st. Valero Energy's payout ratio is currently 188.33%.

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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