CCM Investment Group LLC Takes $4.65 Million Position in Valero Energy Corporation (NYSE:VLO)

Key Points

• CCM Investment Group LLC has acquired a new stake in Valero Energy Corporation, purchasing 35,347 shares worth approximately $4.65 million.
• Valero recently reported earnings of $2.28 EPS, surpassing analysts' expectations by $0.62, although quarterly revenue was down 13.3% year-over-year.
• The company will pay a quarterly dividend of $1.13 on September 2nd, representing an annualized dividend of $4.52 and a yield of 3.4%.

CCM Investment Group LLC purchased a new stake in shares of Valero Energy Corporation (NYSE:VLO - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 35,347 shares of the oil and gas company's stock, valued at approximately $4,647,000.

Several other large investors have also added to or reduced their stakes in VLO. Vanguard Group Inc. lifted its holdings in Valero Energy by 12.0% during the first quarter. Vanguard Group Inc. now owns 38,881,222 shares of the oil and gas company's stock valued at $5,135,043,000 after purchasing an additional 4,155,522 shares in the last quarter. Nuveen LLC purchased a new position in shares of Valero Energy in the first quarter worth $529,864,000. GAMMA Investing LLC lifted its holdings in shares of Valero Energy by 15,395.5% in the first quarter. GAMMA Investing LLC now owns 1,355,699 shares of the oil and gas company's stock worth $179,047,000 after buying an additional 1,346,950 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of Valero Energy by 34.1% in the first quarter. Invesco Ltd. now owns 4,905,145 shares of the oil and gas company's stock worth $647,823,000 after buying an additional 1,247,196 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Valero Energy in the fourth quarter worth $98,376,000. Hedge funds and other institutional investors own 78.69% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Wolfe Research downgraded shares of Valero Energy from an "outperform" rating to a "peer perform" rating in a report on Monday, July 14th. JPMorgan Chase & Co. lowered their target price on shares of Valero Energy from $152.00 to $147.00 and set an "overweight" rating on the stock in a report on Monday, April 28th. Mizuho boosted their target price on shares of Valero Energy from $158.00 to $166.00 and gave the stock an "outperform" rating in a report on Tuesday, May 13th. Piper Sandler boosted their target price on shares of Valero Energy from $159.00 to $168.00 and gave the stock an "overweight" rating in a report on Monday, July 28th. Finally, Raymond James Financial boosted their price target on shares of Valero Energy from $155.00 to $172.00 and gave the stock a "strong-buy" rating in a research report on Tuesday, July 15th. Five investment analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $154.47.

Valero Energy Trading Down 1.1%

VLO stock traded down $1.49 during mid-day trading on Monday, reaching $131.80. 2,122,264 shares of the stock traded hands, compared to its average volume of 2,994,713. 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 Corporation has a one year low of $99.00 and a one year high of $155.12. The stock has a market capitalization of $40.94 billion, a PE ratio of 54.92, a PEG ratio of 3.12 and a beta of 1.03. The business has a 50-day moving average price of $139.22 and a two-hundred day moving average price of $130.83.

Valero Energy (NYSE:VLO - Get Free Report) last posted its quarterly earnings data 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 business had revenue of $29.89 billion for the quarter, compared to analysts' expectations of $27 billion. During the same quarter in the previous year, the business posted $2.71 earnings per share. The business's revenue was down 13.3% compared to the same quarter last year. Equities research analysts expect that Valero Energy Corporation will post 7.92 EPS for the current year.

Valero Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Thursday, July 31st will be given a dividend of $1.13 per share. The ex-dividend date is Thursday, July 31st. This represents a $4.52 dividend on an annualized basis and a yield of 3.4%. Valero Energy's payout ratio is 188.33%.

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.