Empower Advisory Group LLC Boosts Stake in Valero Energy Corporation (NYSE:VLO)

Key Points

• Empower Advisory Group LLC increased its stake in Valero Energy Corporation by 7.0% in Q1 2023, now owning 544,667 shares valued at approximately $71.93 million.
• Valero Energy recently declared a $1.13 quarterly dividend, translating to an annualized yield of 3.3%, with a payout ratio of 188.33%.
• Analysts have shown mixed ratings for Valero, with recent upgrades from Goldman Sachs and Piper Sandler, while Citigroup downgraded the stock, reflecting a consensus median price target of $154.47.

Empower Advisory Group LLC boosted its holdings in Valero Energy Corporation (NYSE:VLO - Free Report) by 7.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 544,667 shares of the oil and gas company's stock after acquiring an additional 35,821 shares during the quarter. Empower Advisory Group LLC owned 0.17% of Valero Energy worth $71,934,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of VLO. GAMMA Investing LLC increased its position in Valero Energy by 15,395.5% during 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 acquiring an additional 1,346,950 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Valero Energy in the 4th quarter worth approximately $98,376,000. Northern Trust Corp boosted its stake in shares of Valero Energy by 15.9% during the 4th quarter. Northern Trust Corp now owns 3,850,859 shares of the oil and gas company's stock worth $472,077,000 after acquiring an additional 529,513 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Valero Energy by 22.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,864,418 shares of the oil and gas company's stock valued at $351,151,000 after acquiring an additional 525,255 shares during the period. Finally, Ameriprise Financial Inc. grew its holdings in Valero Energy by 5.7% during the fourth quarter. Ameriprise Financial Inc. now owns 7,938,335 shares of the oil and gas company's stock valued at $973,119,000 after purchasing an additional 429,252 shares during the period. 78.69% of the stock is owned by institutional investors.

Valero Energy Price Performance

Shares of NYSE VLO traded down $0.89 during midday trading on Thursday, hitting $132.57. The stock had a trading volume of 2,060,061 shares, compared to its average volume of 3,124,334. 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 50 day simple moving average of $139.06 and a 200-day simple moving average of $131.02. The company has a market capitalization of $41.18 billion, a PE ratio of 55.24, a P/E/G ratio of 3.13 and a beta of 1.03. Valero Energy Corporation has a 1 year low of $99.00 and a 1 year high of $155.12.

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, 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 during the quarter, compared to analysts' expectations of $27 billion. During the same period in the prior year, the business earned $2.71 earnings per share. The company's quarterly revenue was down 13.3% compared to the same quarter last year. On average, sell-side analysts expect that Valero Energy Corporation will post 7.92 EPS for the current fiscal year.

Valero Energy Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on VLO. Barclays raised their price objective on Valero Energy from $140.00 to $141.00 and gave the company an "overweight" rating in a research report on Monday, May 12th. Morgan Stanley increased their price target on Valero Energy from $145.00 to $160.00 and gave the company an "overweight" rating in a report on Wednesday, July 16th. JPMorgan Chase & Co. cut their target price on Valero Energy from $152.00 to $147.00 and set an "overweight" rating on the stock in a research note on Monday, April 28th. TD Cowen downgraded Valero Energy from a "buy" rating to a "hold" rating and upped their price objective for the company from $118.00 to $140.00 in a research report on Tuesday, July 22nd. Finally, Wells Fargo & Company boosted their price objective on shares of Valero Energy from $151.00 to $168.00 and gave the company an "overweight" rating in a research report on Wednesday, July 9th. Five investment analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $154.47.

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.