Valero Energy Corporation (NYSE:VLO) Shares Acquired by Entropy Technologies LP

Key Points

• Entropy Technologies LP increased its stake in Valero Energy by 360.1%, owning 29,141 shares valued at $3.85 million, according to their recent SEC filing.
• Valero Energy reported $2.28 EPS in its latest quarter, exceeding analysts' estimates of $1.66, with a revenue of $29.89 billion compared to expectations of $27 billion.
• Analysts have raised their price targets for Valero Energy, with Morgan Stanley setting a new target of $160.00 and several firms assigning an "overweight" or "strong-buy" rating.

Entropy Technologies LP raised its holdings in Valero Energy Corporation (NYSE:VLO - Free Report) by 360.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,141 shares of the oil and gas company's stock after purchasing an additional 22,808 shares during the period. Entropy Technologies LP's holdings in Valero Energy were worth $3,849,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of Valero Energy by 12.0% in the 1st 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 acquiring an additional 4,155,522 shares in the last quarter. GAMMA Investing LLC lifted its stake 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 worth $179,047,000 after purchasing an additional 1,346,950 shares during the last quarter. Invesco Ltd. lifted its stake in Valero Energy by 34.1% during the first quarter. Invesco Ltd. now owns 4,905,145 shares of the oil and gas company's stock worth $647,823,000 after purchasing an additional 1,247,196 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Valero Energy during the fourth quarter valued at about $98,376,000. Finally, Charles Schwab Investment Management Inc. boosted its position in Valero Energy by 6.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 11,437,765 shares of the oil and gas company's stock valued at $1,510,586,000 after buying an additional 736,533 shares during the period. Hedge funds and other institutional investors own 78.69% of the company's stock.

Valero Energy Stock Up 2.0%

Shares of VLO traded up $2.70 during trading hours on Wednesday, hitting $136.08. The company had a trading volume of 2,092,854 shares, compared to its average volume of 3,330,087. The company has a market capitalization of $42.27 billion, a PE ratio of 56.70, a price-to-earnings-growth ratio of 3.12 and a beta of 1.03. The company has a current ratio of 1.62, a quick ratio of 1.11 and a debt-to-equity ratio of 0.38. Valero Energy Corporation has a one year low of $99.00 and a one year high of $155.12. The company's fifty day moving average price is $139.27 and its two-hundred day moving average price is $130.84.

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, beating the consensus estimate of $1.66 by $0.62. Valero Energy had a return on equity of 5.76% and a net margin of 0.62%. The firm had revenue of $29.89 billion during the quarter, compared to analyst estimates of $27 billion. During the same quarter in the prior year, the business posted $2.71 EPS. The business's revenue for the quarter was down 13.3% compared to the same quarter last year. As a group, equities analysts forecast that Valero Energy Corporation will post 7.92 earnings per share for the current fiscal year.

Valero Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Thursday, July 31st will be issued a dividend of $1.13 per share. This represents a $4.52 annualized dividend and a dividend yield of 3.3%. The ex-dividend date is Thursday, July 31st. Valero Energy's dividend payout ratio is currently 188.33%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on VLO shares. Evercore ISI began coverage on shares of Valero Energy in a research report on Wednesday, June 18th. They set an "in-line" rating and a $135.00 price target for the company. Wolfe Research downgraded Valero Energy from an "outperform" rating to a "peer perform" rating in a report on Monday, July 14th. The Goldman Sachs Group upgraded Valero Energy from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $127.00 to $154.00 in a research note on Tuesday, May 13th. Citigroup cut Valero Energy from a "buy" rating to a "neutral" rating and lifted their price objective for the company from $134.00 to $150.00 in a research note on Wednesday, July 16th. Finally, Morgan Stanley lifted their price objective on Valero Energy from $145.00 to $160.00 and gave the company an "overweight" rating in a research note on Wednesday, July 16th. Five research 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 stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price 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.