Cinctive Capital Management LP Takes $8.55 Million Position in Valero Energy Corporation $VLO

Key Points

• Cinctive Capital Management LP acquired 64,772 shares of Valero Energy Corporation, valued at approximately $8,554,000, as per its recent SEC filing.
• Valero Energy's earnings per share for the last quarter were reported at $2.28, exceeding analysts' expectations of $1.66, despite a 13.3% year-over-year revenue decline.
• The company declared a quarterly dividend of $1.13, resulting in an annualized yield of 2.9%, with a current dividend payout ratio of 188.33%.

Cinctive Capital Management LP acquired a new stake in Valero Energy Corporation (NYSE:VLO - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 64,772 shares of the oil and gas company's stock, valued at approximately $8,554,000.

Several other large investors have also bought and sold shares of VLO. Price T Rowe Associates Inc. MD lifted its holdings in Valero Energy by 276.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 10,795,436 shares of the oil and gas company's stock valued at $1,425,754,000 after buying an additional 7,931,018 shares during the period. Vanguard Group Inc. lifted its holdings in Valero Energy by 12.0% in 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 buying an additional 4,155,522 shares during the period. Nuveen LLC acquired a new position in Valero Energy in the first quarter valued at approximately $529,864,000. GAMMA Investing LLC lifted its holdings in 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 valued at $179,047,000 after buying an additional 1,346,950 shares during the period. Finally, Invesco Ltd. lifted its holdings in 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 valued at $647,823,000 after buying an additional 1,247,196 shares during the period. 78.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently weighed in on VLO. Raymond James Financial increased their price objective on shares of Valero Energy from $155.00 to $172.00 and gave the company a "strong-buy" rating in a report on Tuesday, July 15th. UBS Group increased 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. Barclays increased their target price on shares of Valero Energy from $140.00 to $141.00 and gave the stock an "overweight" rating in a report on Monday, May 12th. TD Cowen lowered shares of Valero Energy from a "buy" rating to a "hold" rating and increased their target price for the stock from $118.00 to $140.00 in a report on Tuesday, July 22nd. Finally, Citigroup lowered shares of Valero Energy from a "buy" rating to a "neutral" rating and increased their target price for the stock from $134.00 to $150.00 in a report on Wednesday, July 16th. Two 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 company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $156.40.

Valero Energy Stock Up 0.8%

Shares of NYSE:VLO traded up $1.26 during midday trading on Friday, reaching $156.65. 2,599,302 shares of the company were exchanged, compared to its average volume of 2,107,999. Valero Energy Corporation has a fifty-two week low of $99.00 and a fifty-two week high of $159.26. The company has a quick ratio of 1.11, a current ratio of 1.62 and a debt-to-equity ratio of 0.38. The stock has a fifty day simple moving average of $143.44 and a two-hundred day simple moving average of $132.07. The firm has a market cap of $48.66 billion, a PE ratio of 65.27, a P/E/G ratio of 1.86 and a beta of 1.10.

Valero Energy (NYSE:VLO - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The oil and gas company reported $2.28 EPS for the quarter, topping 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 analyst estimates of $27 billion. During the same period last year, the business posted $2.71 earnings per share. The firm's quarterly revenue was down 13.3% on a year-over-year basis. As a group, sell-side analysts forecast that Valero Energy Corporation will post 7.92 earnings per share for the current year.

Valero Energy Announces Dividend

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