Forvis Mazars Wealth Advisors LLC Increases Stock Position in Valero Energy Corporation $VLO

Key Points

• Forvis Mazars Wealth Advisors LLC increased its stake in Valero Energy Corporation by 7.0% in Q2, now holding 32,229 shares valued at approximately $4.3 million.
• Several hedge funds recently adjusted their positions in Valero, with 78.69% of the stock currently owned by institutional investors.
• Valero Energy reported Q2 earnings of $2.28 EPS, exceeding estimates, though revenue declined 13.3% year-over-year to $29.89 billion.

Forvis Mazars Wealth Advisors LLC increased its position in Valero Energy Corporation (NYSE:VLO - Free Report) by 7.0% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 32,229 shares of the oil and gas company's stock after acquiring an additional 2,116 shares during the period. Forvis Mazars Wealth Advisors LLC's holdings in Valero Energy were worth $4,332,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Wayfinding Financial LLC purchased a new stake in Valero Energy during the 1st quarter valued at $26,000. Hoey Investments Inc. purchased a new stake in Valero Energy during the 2nd quarter valued at $26,000. GFG Capital LLC purchased a new stake in Valero Energy during the 2nd quarter valued at $27,000. Hazlett Burt & Watson Inc. raised its stake in Valero Energy by 156.6% during the 1st quarter. Hazlett Burt & Watson Inc. now owns 213 shares of the oil and gas company's stock valued at $28,000 after buying an additional 130 shares during the last quarter. Finally, Hemington Wealth Management raised its stake in Valero Energy by 39.9% during the 1st quarter. Hemington Wealth Management now owns 333 shares of the oil and gas company's stock valued at $43,000 after buying an additional 95 shares during the last quarter. 78.69% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have weighed in on VLO. Weiss Ratings reiterated a "hold (c)" rating on shares of Valero Energy in a research note on Wednesday, October 8th. Raymond James Financial reiterated a "strong-buy" rating and set a $181.00 target price (up from $177.00) on shares of Valero Energy in a research note on Friday. Mizuho boosted their target price on shares of Valero Energy from $166.00 to $190.00 and gave the company an "outperform" rating in a research note on Monday, September 15th. Bank of America upgraded Valero Energy from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $152.00 to $179.00 in a research note on Wednesday, September 3rd. Finally, Wolfe Research lowered Valero Energy from an "outperform" rating to a "peer perform" rating in a research note on Monday, July 14th. Three equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $173.27.

Valero Energy Trading Up 0.8%

NYSE:VLO opened at $157.62 on Friday. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.62 and a quick ratio of 1.11. The firm has a market capitalization of $48.96 billion, a price-to-earnings ratio of 65.68, a price-to-earnings-growth ratio of 1.62 and a beta of 1.05. Valero Energy Corporation has a one year low of $99.00 and a one year high of $178.43. The business has a fifty day moving average price of $155.99 and a 200-day moving average price of $138.88.

Valero Energy (NYSE:VLO - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The oil and gas company reported $2.28 EPS for the quarter, topping the consensus estimate of $1.66 by $0.62. The firm had revenue of $29.89 billion during the quarter, compared to analyst estimates of $27 billion. Valero Energy had a return on equity of 5.76% and a net margin of 0.62%.Valero Energy's revenue was down 13.3% on a year-over-year basis. During the same period in the prior year, the business posted $2.71 EPS. Sell-side analysts forecast that Valero Energy Corporation will post 7.92 EPS for the current year.

Valero Energy 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.

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