Beacon Investment Advisory Services Inc. Increases Position in Valero Energy Corporation $VLO

Key Points

• Beacon Investment Advisory Services Inc. raised its stake in Valero Energy Corporation (VLO) by 8.5% during Q2, increasing its holdings to 30,152 shares valued at approximately $4.05 million.
• Valero Energy reported $2.28 EPS for the last quarter, significantly exceeding analyst expectations of $1.66, while revenue was also higher than forecast at $29.89 billion.
• Valero announced a quarterly dividend payment of $1.13 per share, with an annualized dividend yield of 2.6%, despite a high dividend payout ratio of 188.33%.

Beacon Investment Advisory Services Inc. raised its position in Valero Energy Corporation (NYSE:VLO - Free Report) by 8.5% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 30,152 shares of the oil and gas company's stock after purchasing an additional 2,372 shares during the period. Beacon Investment Advisory Services Inc.'s holdings in Valero Energy were worth $4,053,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Kestra Private Wealth Services LLC increased its position in shares of Valero Energy by 18.5% in the 1st quarter. Kestra Private Wealth Services LLC now owns 22,402 shares of the oil and gas company's stock valued at $2,959,000 after purchasing an additional 3,503 shares during the last quarter. Hancock Whitney Corp grew its position 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 valued at $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 valued at $766,000. Sendero Wealth Management LLC grew its position 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 valued at $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 valued at $866,000. 78.69% of the stock is owned by hedge funds and other institutional investors.

Valero Energy Stock Up 0.4%

VLO stock opened at $171.04 on Thursday. Valero Energy Corporation has a one year low of $99.00 and a one year high of $173.76. The stock has a market capitalization of $53.13 billion, a PE ratio of 71.27, a price-to-earnings-growth ratio of 1.79 and a beta of 1.10. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.11 and a current ratio of 1.62. The company has a fifty day moving average of $147.78 and a 200-day moving average of $134.92.

Valero Energy (NYSE:VLO - Get Free Report) last released its earnings results on Thursday, July 24th. The oil and gas company reported $2.28 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 analysts' expectations of $27 billion. During the same quarter last year, the business earned $2.71 EPS. The business's revenue was down 13.3% on a year-over-year basis. As a group, 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 2.6%. The ex-dividend date was Thursday, July 31st. Valero Energy's dividend payout ratio (DPR) is 188.33%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. TD Cowen downgraded shares of Valero Energy from a "buy" rating to a "hold" rating and increased their target price for the company from $118.00 to $140.00 in a research report on Tuesday, July 22nd. Evercore ISI increased their target price 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. Wells Fargo & Company increased their price target on shares of Valero Energy from $151.00 to $168.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 9th. Piper Sandler increased their price target on shares of Valero Energy from $171.00 to $200.00 and gave the stock an "overweight" rating in a research note on Thursday, September 11th. Finally, Wolfe Research cut shares of Valero Energy from an "outperform" rating to a "peer perform" rating in a research note on Monday, July 14th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $165.00.

Valero Energy Company 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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