Commerzbank Aktiengesellschaft FI Increases Position in Valero Energy Corporation $VLO

Key Points

• Commerzbank Aktiengesellschaft FI increased its position in Valero Energy Corporation (NYSE:VLO) by 49.5% during the second quarter, now holding 10,450 shares valued at $1,405,000.
• Valero Energy recently reported earnings of $2.28 per share, exceeding analysts' expectations of $1.66, despite a revenue drop of 13.3% year-over-year.
• Several analysts have upgraded their price targets for Valero Energy, with Piper Sandler raising it from $171 to $200 while maintaining an "overweight" rating.

Commerzbank Aktiengesellschaft FI raised its position in Valero Energy Corporation (NYSE:VLO - Free Report) by 49.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,450 shares of the oil and gas company's stock after purchasing an additional 3,458 shares during the quarter. Commerzbank Aktiengesellschaft FI's holdings in Valero Energy were worth $1,405,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Pinion Investment Advisors LLC raised its position in Valero Energy by 3.2% in the second quarter. Pinion Investment Advisors LLC now owns 4,167 shares of the oil and gas company's stock valued at $560,000 after purchasing an additional 130 shares during the period. Stiles Financial Services Inc grew its stake in shares of Valero Energy by 8.9% in the second quarter. Stiles Financial Services Inc now owns 17,756 shares of the oil and gas company's stock worth $2,387,000 after acquiring an additional 1,446 shares in the last quarter. Moseley Investment Management Inc. grew its stake in shares of Valero Energy by 3.9% in the second quarter. Moseley Investment Management Inc. now owns 15,919 shares of the oil and gas company's stock worth $2,140,000 after acquiring an additional 594 shares in the last quarter. Horizon Bancorp Inc. IN acquired a new position in shares of Valero Energy in the second quarter worth $134,000. Finally, Callan Family Office LLC acquired a new position in shares of Valero Energy in the second quarter worth $497,000. Hedge funds and other institutional investors own 78.69% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on VLO shares. TD Cowen downgraded shares of Valero Energy from a "buy" rating to a "hold" rating and boosted their price target for the stock from $118.00 to $140.00 in a research note on Tuesday, July 22nd. Citigroup downgraded shares of Valero Energy from a "buy" rating to a "neutral" rating and boosted their price target for the stock from $134.00 to $150.00 in a research note on Wednesday, July 16th. UBS Group boosted their price target on shares of Valero Energy from $165.00 to $183.00 and gave the stock a "buy" rating in a research note on Monday, September 22nd. Weiss Ratings restated a "hold (c)" rating on shares of Valero Energy in a research note on Wednesday. Finally, Piper Sandler boosted their price target on shares of Valero Energy from $171.00 to $200.00 and gave the stock an "overweight" rating in a research note on Thursday, September 11th. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $169.80.

Valero Energy Stock Performance

Shares of VLO stock opened at $158.19 on Friday. The company has a current ratio of 1.62, a quick ratio of 1.11 and a debt-to-equity ratio of 0.38. The firm has a fifty day moving average price of $153.45 and a 200 day moving average price of $137.92. The company has a market cap of $49.14 billion, a P/E ratio of 65.91, a PEG ratio of 1.73 and a beta of 1.05. Valero Energy Corporation has a 12 month low of $99.00 and a 12 month high of $178.43.

Valero Energy (NYSE:VLO - Get Free Report) last issued its earnings results 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. The firm had revenue of $29.89 billion during the quarter, compared to the consensus estimate of $27 billion. Valero Energy had a net margin of 0.62% and a return on equity of 5.76%. The company's revenue was down 13.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.71 earnings per share. Sell-side analysts predict that Valero Energy Corporation will post 7.92 earnings per share for the current fiscal year.

Valero Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Thursday, July 31st were given a $1.13 dividend. The ex-dividend date of this dividend was Thursday, July 31st. This represents a $4.52 dividend on an annualized basis and a yield of 2.9%. 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.

Want to see what other hedge funds are holding VLO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Valero Energy Corporation (NYSE:VLO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.