GC Wealth Management RIA LLC Takes $339,000 Position in Valero Energy Corporation $VLO

Key Points

• GC Wealth Management RIA LLC purchased a new stake in Valero Energy Corporation, investing approximately $339,000 during the second quarter, acquiring 2,524 shares of the stock.
• Valero Energy reported earnings of $2.28 per share for the last quarter, surpassing analysts' expectations by $0.62, but experienced a 13.3% year-over-year decline in revenue.
• Analysts have set varying price targets for Valero Energy, with Piper Sandler increasing their target from $171.00 to $200.00 and Bank of America raising theirs from $152.00 to $179.00, while maintaining a consensus rating of "Moderate Buy."

GC Wealth Management RIA LLC bought a new stake in shares of Valero Energy Corporation (NYSE:VLO - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 2,524 shares of the oil and gas company's stock, valued at approximately $339,000.

A number of other hedge funds have also recently modified their holdings of VLO. Price T Rowe Associates Inc. MD grew its stake in shares of Valero Energy by 276.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 10,795,436 shares of the oil and gas company's stock valued at $1,425,754,000 after buying an additional 7,931,018 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of 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 valued at $5,135,043,000 after purchasing an additional 4,155,522 shares during the period. Nuveen LLC purchased a new stake in shares of Valero Energy in the first quarter valued at approximately $529,864,000. Invesco Ltd. boosted its holdings in shares of Valero Energy by 34.1% in the first 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. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Valero Energy by 6.9% in 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 purchasing an additional 736,533 shares during the period. Institutional investors own 78.69% of the company's stock.

Valero Energy Stock Down 1.5%

Valero Energy stock opened at $167.63 on Thursday. The business has a fifty day moving average of $150.40 and a two-hundred day moving average of $136.51. 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 firm has a market cap of $52.07 billion, a P/E ratio of 69.84, a P/E/G ratio of 1.79 and a beta of 1.05. Valero Energy Corporation has a twelve month low of $99.00 and a twelve month high of $178.43.

Valero Energy (NYSE:VLO - Get Free Report) last posted its earnings results on Thursday, July 24th. The oil and gas company reported $2.28 earnings per share for the quarter, topping analysts' consensus estimates of $1.66 by $0.62. Valero Energy had a return on equity of 5.76% and a net margin of 0.62%.The company 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 earned $2.71 earnings per share. Valero Energy's revenue was down 13.3% on a year-over-year basis. On average, analysts forecast that Valero Energy Corporation will post 7.92 earnings per share for the current fiscal year.

Valero Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Thursday, July 31st were issued a dividend of $1.13 per share. This represents a $4.52 annualized dividend and a dividend yield of 2.7%. The ex-dividend date was Thursday, July 31st. Valero Energy's dividend payout ratio is currently 188.33%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on VLO. TD Cowen lowered Valero Energy from a "buy" rating to a "hold" rating and boosted their price target for the company from $118.00 to $140.00 in a report on Tuesday, July 22nd. Citigroup lowered Valero Energy from a "buy" rating to a "neutral" rating and boosted their price target for the company from $134.00 to $150.00 in a report on Wednesday, July 16th. Piper Sandler boosted their price target on Valero Energy from $171.00 to $200.00 and gave the company an "overweight" rating in a report on Thursday, September 11th. Morgan Stanley boosted 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. Finally, Bank of America upgraded Valero Energy from a "neutral" rating to a "buy" rating and upped their target price for the stock from $152.00 to $179.00 in a report on Wednesday, September 3rd. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $165.00.

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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