Axxcess Wealth Management LLC Grows Stake in Valero Energy Corporation $VLO

Key Points

• Axxcess Wealth Management LLC significantly increased its stake in Valero Energy Corporation by 127.8% in Q2, owning 6,493 shares valued at $873,000.
• Several analysts have raised their price targets for Valero Energy, with Mizuho increasing it from $166.00 to $190.00, while Piper Sandler set a new target of $200.00.
• Valero Energy's stock was down by 2.8% recently, with current trading around $156.40, while the company reported earnings of $2.28 per share for the last quarter, surpassing expectations.

Axxcess Wealth Management LLC raised its stake in Valero Energy Corporation (NYSE:VLO - Free Report) by 127.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,493 shares of the oil and gas company's stock after acquiring an additional 3,643 shares during the period. Axxcess Wealth Management LLC's holdings in Valero Energy were worth $873,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Kestra Private Wealth Services LLC grew its stake in shares of 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 acquiring an additional 3,503 shares during the last quarter. Hancock Whitney Corp grew its stake in shares of Valero Energy by 8.9% in the first quarter. Hancock Whitney Corp now owns 46,474 shares of the oil and gas company's stock worth $6,138,000 after acquiring 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 stake in shares of Valero Energy during the first quarter valued at $766,000. FORA Capital LLC bought a new stake in Valero Energy in the 1st quarter worth about $866,000. Finally, Dynamic Advisor Solutions LLC bought a new stake in Valero Energy in the 1st quarter worth about $462,000. 78.69% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently commented on VLO shares. Mizuho lifted their price objective on Valero Energy from $166.00 to $190.00 and gave the stock an "outperform" rating in a report on Monday, September 15th. Weiss Ratings reissued a "hold (c)" rating on shares of Valero Energy in a research report on Wednesday, October 8th. Piper Sandler raised their target price on Valero Energy from $171.00 to $200.00 and gave the stock an "overweight" rating in a research report on Thursday, September 11th. UBS Group raised their target price on Valero Energy from $165.00 to $183.00 and gave the stock a "buy" rating in a research report on Monday, September 22nd. Finally, Bank of America raised Valero Energy from a "neutral" rating to a "buy" rating and raised their target price for the stock from $152.00 to $179.00 in a research report on Wednesday, September 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $169.80.

Valero Energy Stock Down 2.8%

VLO stock opened at $156.40 on Friday. Valero Energy Corporation has a twelve month low of $99.00 and a twelve month high of $178.43. The company has a quick ratio of 1.11, a current ratio of 1.62 and a debt-to-equity ratio of 0.38. The stock has a market cap of $48.59 billion, a P/E ratio of 65.17, a PEG ratio of 1.65 and a beta of 1.05. The business's 50-day moving average price is $155.50 and its 200-day moving average price is $138.68.

Valero Energy (NYSE:VLO - Get Free Report) last issued its 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. The company had revenue of $29.89 billion for the quarter, compared to the consensus estimate of $27 billion. Valero Energy had a return on equity of 5.76% and a net margin of 0.62%.The firm's quarterly revenue was down 13.3% on a year-over-year basis. During the same quarter last year, the company earned $2.71 EPS. On average, equities research analysts forecast that Valero Energy Corporation will post 7.92 EPS for the current year.

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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