Valero Energy Corporation (NYSE:VLO) Stock Holdings Increased by DAVENPORT & Co LLC

DAVENPORT & Co LLC raised its position in Valero Energy Corporation (NYSE:VLO - Free Report) by 51.1% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 65,659 shares of the oil and gas company's stock after purchasing an additional 22,216 shares during the period. DAVENPORT & Co LLC's holdings in Valero Energy were worth $8,672,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of VLO. Ameriflex Group Inc. purchased a new position in Valero Energy during the fourth quarter worth about $29,000. OFI Invest Asset Management purchased a new position in shares of Valero Energy during the 4th quarter worth about $37,000. Millstone Evans Group LLC purchased a new position in shares of Valero Energy during the 4th quarter worth about $44,000. SBI Securities Co. Ltd. acquired a new stake in shares of Valero Energy in the fourth quarter worth approximately $52,000. Finally, Transce3nd LLC purchased a new stake in Valero Energy in the fourth quarter valued at approximately $58,000. 78.69% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on VLO. Scotiabank cut their price target on shares of Valero Energy from $156.00 to $136.00 and set a "sector outperform" rating on the stock in a research note on Friday, April 11th. The Goldman Sachs Group upgraded Valero Energy from a "neutral" rating to a "buy" rating and lifted their target price for the company from $127.00 to $154.00 in a report on Tuesday, May 13th. Mizuho boosted their price target on Valero Energy from $158.00 to $166.00 and gave the company an "outperform" rating in a research report on Tuesday, May 13th. Morgan Stanley cut their price objective on Valero Energy from $160.00 to $145.00 and set an "overweight" rating on the stock in a report on Thursday, April 24th. Finally, TD Cowen decreased their target price on Valero Energy from $121.00 to $118.00 and set a "buy" rating for the company in a report on Friday, April 25th. Three equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $150.88.

Valero Energy Stock Up 1.0%

Shares of VLO stock traded up $1.47 on Friday, hitting $143.53. The stock had a trading volume of 2,224,601 shares, compared to its average volume of 3,055,219. The stock's 50 day moving average is $130.58 and its 200-day moving average is $128.11. The firm has a market capitalization of $44.96 billion, a price-to-earnings ratio of 50.72, a P/E/G ratio of 2.50 and a beta of 1.00. Valero Energy Corporation has a 52-week low of $99.00 and a 52-week high of $167.78. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.09 and a current ratio of 1.56.

Valero Energy (NYSE:VLO - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The oil and gas company reported $0.89 earnings per share for the quarter, missing analysts' consensus estimates of $1.16 by ($0.27). The firm had revenue of $28.76 billion during the quarter, compared to analysts' expectations of $28.54 billion. Valero Energy had a net margin of 0.72% and a return on equity of 6.30%. The business's quarterly revenue was down 4.7% on a year-over-year basis. During the same period in the previous year, the company earned $3.82 earnings per share. As a group, research analysts expect that Valero Energy Corporation will post 7.92 earnings per share for the current year.

Valero Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Tuesday, May 20th were issued a $1.13 dividend. The ex-dividend date of this dividend was Tuesday, May 20th. This represents a $4.52 annualized dividend and a yield of 3.15%. Valero Energy's dividend payout ratio is presently 159.72%.

Valero Energy Company 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.