Canal Insurance CO Buys 10,000 Shares of Valero Energy Corporation $VLO

Key Points

• Canal Insurance CO increased its stake in Valero Energy Corporation by 100%, now owning 20,000 shares valued at approximately $2.69 million.
• Valero Energy reported $3.66 EPS for the quarter, outperforming estimates, with a revenue of $32.17 billion.
• Analysts have raised their price targets for Valero Energy, with Piper Sandler setting a new target of $200 and overall ratings trending towards "Moderate Buy."

Canal Insurance CO raised its stake in Valero Energy Corporation (NYSE:VLO - Free Report) by 100.0% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 20,000 shares of the oil and gas company's stock after purchasing an additional 10,000 shares during the quarter. Canal Insurance CO's holdings in Valero Energy were worth $2,688,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in VLO. Bleakley Financial Group LLC purchased a new stake in shares of Valero Energy during the second quarter worth about $1,402,000. LifeWealth Investments LLC bought a new position in Valero Energy during the 2nd quarter valued at approximately $420,000. Ethic Inc. raised its position in Valero Energy by 13.0% during the 2nd quarter. Ethic Inc. now owns 11,726 shares of the oil and gas company's stock valued at $1,579,000 after purchasing an additional 1,353 shares during the last quarter. Rehmann Capital Advisory Group raised its position in Valero Energy by 7.2% during the 2nd quarter. Rehmann Capital Advisory Group now owns 2,768 shares of the oil and gas company's stock valued at $372,000 after purchasing an additional 185 shares during the last quarter. Finally, Adams Natural Resources Fund Inc. purchased a new stake in Valero Energy in the 2nd quarter worth approximately $10,525,000. Hedge funds and other institutional investors own 78.69% of the company's stock.

Valero Energy Price Performance

Shares of NYSE VLO opened at $161.87 on Thursday. The company has a 50 day simple moving average of $157.56 and a two-hundred day simple moving average of $139.72. Valero Energy Corporation has a fifty-two week low of $99.00 and a fifty-two week high of $178.43. The company has a market capitalization of $50.29 billion, a price-to-earnings ratio of 67.45, a P/E/G ratio of 1.59 and a beta of 1.05. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.11 and a current ratio of 1.62.

Valero Energy (NYSE:VLO - Get Free Report) last posted its quarterly earnings results on Thursday, October 23rd. The oil and gas company reported $3.66 earnings per share for the quarter, topping the consensus estimate of $3.15 by $0.51. The company had revenue of $32.17 billion for the quarter, compared to the consensus estimate of $28.80 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 2.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.14 EPS. Analysts expect that Valero Energy Corporation will post 7.92 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Piper Sandler lifted their price target on shares of Valero Energy from $171.00 to $200.00 and gave the company an "overweight" rating in a report on Thursday, September 11th. Mizuho lifted their target price on shares of Valero Energy from $166.00 to $190.00 and gave the company an "outperform" rating in a research note on Monday, September 15th. Bank of America raised shares of Valero Energy from a "neutral" rating to a "buy" rating and increased their price target for the stock from $152.00 to $179.00 in a research note on Wednesday, September 3rd. Morgan Stanley lowered shares of Valero Energy from an "overweight" rating to an "equal weight" rating and raised their price objective for the stock from $160.00 to $175.00 in a report on Friday, October 3rd. Finally, UBS Group raised their target price on Valero Energy from $165.00 to $183.00 and gave the company a "buy" rating in a research note on Monday, September 22nd. Three analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $173.27.

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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