Avantax Advisory Services Inc. Increases Stake in Valero Energy Corporation (NYSE:VLO)

Key Points

• Avantax Advisory Services Inc. has increased its stake in Valero Energy Corporation by 11.6%, now owning 55,499 shares worth approximately $7.33 million.
• Valero Energy recently reported earnings per share of $2.28 for the last quarter, exceeding estimates of $1.66, despite a 13.3% year-over-year decrease in quarterly revenue.
• The company will pay a quarterly dividend of $1.13 per share, resulting in an annualized dividend yield of 3.18%, although it has a high dividend payout ratio of 159.72%.

Avantax Advisory Services Inc. raised its holdings in shares of Valero Energy Corporation (NYSE:VLO - Free Report) by 11.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 55,499 shares of the oil and gas company's stock after buying an additional 5,753 shares during the period. Avantax Advisory Services Inc.'s holdings in Valero Energy were worth $7,330,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in VLO. Ameriprise Financial Inc. increased its stake in shares of Valero Energy by 5.7% in the fourth quarter. Ameriprise Financial Inc. now owns 7,938,335 shares of the oil and gas company's stock worth $973,119,000 after purchasing an additional 429,252 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Valero Energy by 1.5% in the fourth quarter. Geode Capital Management LLC now owns 6,871,229 shares of the oil and gas company's stock worth $844,775,000 after purchasing an additional 100,248 shares in the last quarter. Franklin Resources Inc. increased its stake in shares of Valero Energy by 1.5% in the fourth quarter. Franklin Resources Inc. now owns 4,759,172 shares of the oil and gas company's stock worth $583,427,000 after purchasing an additional 71,587 shares in the last quarter. Northern Trust Corp increased its stake in shares of Valero Energy by 15.9% in the fourth quarter. Northern Trust Corp now owns 3,850,859 shares of the oil and gas company's stock worth $472,077,000 after purchasing an additional 529,513 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake in shares of Valero Energy by 22.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,864,418 shares of the oil and gas company's stock worth $351,151,000 after purchasing an additional 525,255 shares in the last quarter. 78.69% of the stock is owned by hedge funds and other institutional investors.

Valero Energy Price Performance

VLO stock opened at $142.03 on Friday. Valero Energy Corporation has a 52 week low of $99.00 and a 52 week high of $167.78. The company has a quick ratio of 1.09, a current ratio of 1.56 and a debt-to-equity ratio of 0.39. The company has a fifty day simple moving average of $137.66 and a two-hundred day simple moving average of $130.84. The firm has a market capitalization of $44.48 billion, a P/E ratio of 59.18, a price-to-earnings-growth ratio of 2.91 and a beta of 1.00.

Valero Energy (NYSE:VLO - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The oil and gas company reported $2.28 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 5.74%. The business had revenue of $29.89 billion during the quarter, compared to analyst estimates of $27 billion. During the same quarter last year, the business earned $2.71 earnings per share. Valero Energy's quarterly revenue was down 13.3% compared to the same quarter last year. Analysts anticipate that Valero Energy Corporation will post 7.92 earnings per share for the current fiscal year.

Valero Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Thursday, July 31st will be given a dividend of $1.13 per share. The ex-dividend date is Thursday, July 31st. This represents a $4.52 annualized dividend and a yield of 3.18%. Valero Energy's dividend payout ratio (DPR) is currently 159.72%.

Wall Street Analyst Weigh In

VLO has been the subject of a number of analyst reports. TD Cowen cut shares of Valero Energy from a "buy" rating to a "hold" rating and increased their price objective for the stock from $118.00 to $140.00 in a research note on Tuesday, July 22nd. Raymond James Financial increased their price objective on shares of Valero Energy from $155.00 to $172.00 and gave the stock a "strong-buy" rating in a research note on Tuesday, July 15th. Barclays increased their price objective on shares of Valero Energy from $140.00 to $141.00 and gave the stock an "overweight" rating in a research note on Monday, May 12th. JPMorgan Chase & Co. cut their target price on shares of Valero Energy from $152.00 to $147.00 and set an "overweight" rating for the company in a research note on Monday, April 28th. Finally, Morgan Stanley raised their target price on shares of Valero Energy from $145.00 to $160.00 and gave the company an "overweight" rating in a research note on Wednesday, July 16th. Five analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $153.87.

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.

Want to see what other hedge funds are holding VLO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Valero Energy Corporation (NYSE:VLO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.