Capital Asset Advisory Services LLC Acquires New Shares in Valero Energy Corporation $VLO

Key Points

• Capital Asset Advisory Services LLC acquired 1,793 shares of Valero Energy Corporation, valued at approximately $247,000, in Q2.
• Valero Energy reported earnings of $2.28 per share, exceeding analyst expectations of $1.66, despite a 13.3% year-over-year decline in revenue.
• The company announced a quarterly dividend of $1.13, with an annualized yield of 2.9% and a high dividend payout ratio of 188.33%.

Capital Asset Advisory Services LLC bought a new position in Valero Energy Corporation (NYSE:VLO - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 1,793 shares of the oil and gas company's stock, valued at approximately $247,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Kestra Private Wealth Services LLC boosted its stake in shares of Valero Energy by 18.5% during the 1st quarter. Kestra Private Wealth Services LLC now owns 22,402 shares of the oil and gas company's stock worth $2,959,000 after buying an additional 3,503 shares during the last quarter. Hancock Whitney Corp raised its holdings in 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 acquiring an additional 3,790 shares during the period. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund bought a new position in Valero Energy in the 1st quarter valued at about $766,000. Sendero Wealth Management LLC raised its holdings in 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 acquiring an additional 2,000 shares during the period. Finally, FORA Capital LLC bought a new position in Valero Energy in the 1st quarter valued at about $866,000. 78.69% of the stock is owned by institutional investors and hedge funds.

Valero Energy Stock Performance

Shares of Valero Energy stock opened at $156.78 on Monday. Valero Energy Corporation has a fifty-two week low of $99.00 and a fifty-two week high of $163.02. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.62 and a quick ratio of 1.11. The firm has a market capitalization of $48.70 billion, a P/E ratio of 65.33, a P/E/G ratio of 1.78 and a beta of 1.10. The company's 50 day moving average price is $145.24 and its two-hundred day moving average price is $132.92.

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 for the quarter, beating analysts' consensus estimates of $1.66 by $0.62. Valero Energy had a net margin of 0.62% and a return on equity of 5.76%. The firm had revenue of $29.89 billion for the quarter, compared to analyst estimates of $27 billion. During the same quarter last year, the business posted $2.71 earnings per share. The company's quarterly revenue was down 13.3% on a year-over-year basis. On average, equities analysts forecast that Valero Energy Corporation will post 7.92 earnings per share for the current fiscal year.

Valero Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Thursday, July 31st were given a $1.13 dividend. The ex-dividend date was Thursday, July 31st. This represents a $4.52 dividend on an annualized basis and a yield of 2.9%. Valero Energy's dividend payout ratio (DPR) is currently 188.33%.

Wall Street Analyst Weigh In

VLO has been the topic of several recent research reports. UBS Group raised their target price on shares of Valero Energy from $164.00 to $165.00 and gave the stock a "buy" rating in a report on Friday, July 25th. Bank of America raised shares of 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 report on Wednesday, September 3rd. Evercore ISI initiated coverage on shares of Valero Energy in a report on Wednesday, June 18th. They set an "in-line" rating and a $135.00 target price on the stock. Raymond James Financial raised their target price on shares of Valero Energy from $170.00 to $177.00 and gave the stock a "strong-buy" rating in a report on Tuesday, September 9th. Finally, Wells Fargo & Company raised their target price on shares of Valero Energy from $151.00 to $168.00 and gave the stock an "overweight" rating in a report on Wednesday, July 9th. 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. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $158.87.

Valero Energy 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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