BI Asset Management Fondsmaeglerselskab A S Boosts Stake in Valero Energy Corporation $VLO

Key Points

• BI Asset Management Fondsmaeglerselskab A S increased its Valero Energy stake by 301.7% in the first quarter, ending with 61,405 shares valued at about $15.2 million.
• Valero reported better-than-expected quarterly results, with earnings of $4.22 per share versus the $3.16 estimate and revenue of $32.38 billion, up 7% year over year.
• The company declared a quarterly dividend of $1.20 per share and saw mixed analyst sentiment, with an average rating of “Moderate Buy” and an average price target of $245.59.

BI Asset Management Fondsmaeglerselskab A S boosted its stake in Valero Energy Corporation (NYSE:VLO - Free Report) by 301.7% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 61,405 shares of the oil and gas company's stock after purchasing an additional 46,120 shares during the period. BI Asset Management Fondsmaeglerselskab A S's holdings in Valero Energy were worth $15,172,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in VLO. JPL Wealth Management LLC purchased a new position in shares of Valero Energy during the third quarter worth $27,000. Torren Management LLC purchased a new stake in shares of Valero Energy in the 4th quarter valued at $30,000. AXS Investments LLC purchased a new stake in shares of Valero Energy in the 4th quarter valued at $32,000. University of Texas Texas AM Investment Management Co. lifted its stake in Valero Energy by 157.0% during the 4th quarter. University of Texas Texas AM Investment Management Co. now owns 203 shares of the oil and gas company's stock worth $33,000 after acquiring an additional 124 shares in the last quarter. Finally, Bruce G. Allen Investments LLC lifted its stake in Valero Energy by 32.9% during the 4th quarter. Bruce G. Allen Investments LLC now owns 206 shares of the oil and gas company's stock worth $34,000 after acquiring an additional 51 shares in the last quarter. Hedge funds and other institutional investors own 78.69% of the company's stock.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Barclays lifted their target price on Valero Energy from $184.00 to $261.00 and gave the company an "overweight" rating in a research report on Wednesday, April 8th. Morgan Stanley increased their price target on shares of Valero Energy from $232.00 to $255.00 and gave the stock an "equal weight" rating in a research report on Friday, June 12th. The Goldman Sachs Group raised their price objective on shares of Valero Energy from $203.00 to $237.00 and gave the company a "buy" rating in a research note on Thursday, March 12th. Citigroup upped their target price on shares of Valero Energy from $246.00 to $259.00 and gave the stock a "neutral" rating in a research note on Friday, May 1st. Finally, TD Cowen increased their target price on shares of Valero Energy from $255.00 to $276.00 and gave the stock a "hold" rating in a report on Monday, May 4th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $245.59.

Insiders Place Their Bets

In other Valero Energy news, SVP Eric A. Fisher sold 7,500 shares of the business's stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $236.90, for a total value of $1,776,750.00. Following the completion of the sale, the senior vice president owned 27,242 shares in the company, valued at approximately $6,453,629.80. The trade was a 21.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.36% of the company's stock.

Valero Energy Stock Performance

Shares of VLO stock opened at $236.50 on Friday. The stock's 50-day moving average is $245.11 and its two-hundred day moving average is $214.85. The firm has a market cap of $70.22 billion, a price-to-earnings ratio of 17.19, a PEG ratio of 0.34 and a beta of 0.55. Valero Energy Corporation has a 1 year low of $130.78 and a 1 year high of $265.61. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.15 and a current ratio of 1.58.

Valero Energy (NYSE:VLO - Get Free Report) last posted its earnings results on Thursday, April 30th. The oil and gas company reported $4.22 earnings per share for the quarter, beating the consensus estimate of $3.16 by $1.06. The business had revenue of $32.38 billion during the quarter, compared to the consensus estimate of $31.38 billion. Valero Energy had a return on equity of 15.94% and a net margin of 3.37%.The business's quarterly revenue was up 7.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.89 EPS. Analysts predict that Valero Energy Corporation will post 27.45 earnings per share for the current year.

Valero Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 23rd. Shareholders of record on Thursday, May 21st will be given a dividend of $1.20 per share. The ex-dividend date of this dividend is Thursday, May 21st. This represents a $4.80 annualized dividend and a yield of 2.0%. Valero Energy's payout ratio is 34.88%.

Valero Energy Profile

Valero Energy Corporation is a San Antonio, Texas–based integrated downstream energy company that manufactures and markets transportation fuels, petrochemical feedstocks and other industrial products. The company's operations focus on refining crude oil into finished fuels such as gasoline, diesel and jet fuel, as well as producing asphalt and other refined product streams for commercial and industrial customers.

In addition to refining, Valero has significant operations in renewable fuels, including the production of ethanol and other biofuels, and it manages an extensive logistics network of pipelines, terminals, rail and marine assets to move feedstocks and finished products.

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