Dakota Wealth Management Grows Stock Holdings in Valero Energy Corporation $VLO

Key Points

• Dakota Wealth Management increased its holdings in Valero Energy Corporation by 23.4% during Q2, owning 12,686 shares valued at approximately $1.7 million at the quarter's end.
• Valero Energy reported an EPS of $2.28 for the last quarter, exceeding analysts' estimates of $1.66, despite a 13.3% decline in revenue year-over-year.
• The company recently declared a quarterly dividend of $1.13 per share, leading to an annualized dividend yield of 2.6%, with a payout ratio of 188.33%.

Dakota Wealth Management raised its position in Valero Energy Corporation (NYSE:VLO - Free Report) by 23.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,686 shares of the oil and gas company's stock after acquiring an additional 2,406 shares during the quarter. Dakota Wealth Management's holdings in Valero Energy were worth $1,705,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of VLO. Price T Rowe Associates Inc. MD grew 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 worth $1,425,754,000 after purchasing an additional 7,931,018 shares during the period. Vanguard Group Inc. raised its position 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 worth $5,135,043,000 after acquiring an additional 4,155,522 shares during the period. Nuveen LLC bought a new position in Valero Energy in the first quarter worth approximately $529,864,000. GAMMA Investing LLC raised its position in shares of Valero Energy by 15,395.5% during the 1st quarter. GAMMA Investing LLC now owns 1,355,699 shares of the oil and gas company's stock valued at $179,047,000 after purchasing an additional 1,346,950 shares during the period. Finally, Invesco Ltd. raised its position in shares of Valero Energy by 34.1% during the 1st quarter. Invesco Ltd. now owns 4,905,145 shares of the oil and gas company's stock valued at $647,823,000 after purchasing an additional 1,247,196 shares during the period. Hedge funds and other institutional investors own 78.69% of the company's stock.

Valero Energy Trading Up 0.7%

Shares of VLO opened at $175.72 on Friday. Valero Energy Corporation has a 1-year low of $99.00 and a 1-year high of $178.43. The company has a 50-day moving average of $148.97 and a 200 day moving average of $135.61. The firm has a market capitalization of $54.59 billion, a price-to-earnings ratio of 73.22, a PEG ratio of 1.84 and a beta of 1.10. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.62 and a quick ratio of 1.11.

Valero Energy (NYSE:VLO - Get Free Report) last posted its quarterly earnings results on Thursday, July 24th. The oil and gas company reported $2.28 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $27 billion. During the same quarter in the previous year, the business posted $2.71 EPS. The company's quarterly revenue was down 13.3% compared to the same quarter last year. On average, research analysts expect that Valero Energy Corporation will post 7.92 EPS for the current year.

Valero Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Thursday, July 31st were issued a $1.13 dividend. The ex-dividend date was Thursday, July 31st. This represents a $4.52 annualized dividend and a dividend yield of 2.6%. Valero Energy's payout ratio is currently 188.33%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. UBS Group lifted their price objective 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. Piper Sandler lifted their price objective 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. Raymond James Financial lifted their price objective on shares of Valero Energy from $170.00 to $177.00 and gave the stock a "strong-buy" rating in a research note on Tuesday, September 9th. Bank of America raised shares of Valero Energy from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $152.00 to $179.00 in a research note on Wednesday, September 3rd. Finally, Wolfe Research cut shares of Valero Energy from an "outperform" rating to a "peer perform" rating in a research note on Monday, July 14th. 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 stock. According to data from MarketBeat, Valero Energy currently has an average rating of "Moderate Buy" and a consensus target price of $165.00.

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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