HighTower Advisors LLC Increases Holdings in Valero Energy Corporation $VLO

Key Points

• HighTower Advisors increased its Valero Energy stake by 32.4% in the second quarter, adding 38,296 shares to own 156,631 shares valued at approximately $40.8 million. Institutional investors collectively own 78.69% of VLO.
• Valero reported quarterly earnings of $12.54 per share, exceeding analyst expectations of $10.11, while revenue rose 48.8% year over year to $44.48 billion.
• Valero declared a quarterly dividend of $1.20, equivalent to $4.80 annually and a 1.4% yield. Analysts maintain a consensus “Moderate Buy” rating, with an average price target of $288.

HighTower Advisors LLC increased its position in shares of Valero Energy Corporation (NYSE:VLO - Free Report) by 32.4% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 156,631 shares of the oil and gas company's stock after purchasing an additional 38,296 shares during the quarter. HighTower Advisors LLC owned 0.05% of Valero Energy worth $40,793,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of VLO. Whipplewood Advisors LLC lifted its stake in Valero Energy by 3,400.0% during the 1st quarter. Whipplewood Advisors LLC now owns 105 shares of the oil and gas company's stock valued at $26,000 after acquiring an additional 102 shares during the period. Financial Life Planners acquired a new stake in shares of Valero Energy in the first quarter worth $28,000. Valued Wealth Advisors LLC increased its stake in shares of Valero Energy by 134.0% in the first quarter. Valued Wealth Advisors LLC now owns 117 shares of the oil and gas company's stock worth $29,000 after acquiring an additional 67 shares during the period. Global Assets Advisory LLC purchased a new position in shares of Valero Energy during the first quarter worth $33,000. Finally, JPL Wealth Management LLC acquired a new position in Valero Energy during the third quarter valued at $27,000. Institutional investors and hedge funds own 78.69% of the company's stock.

Valero Energy Stock Down 0.5%

VLO stock opened at $341.36 on Friday. Valero Energy Corporation has a one year low of $135.01 and a one year high of $346.09. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.23 and a current ratio of 1.64. The firm's fifty day moving average is $283.92 and its 200 day moving average is $247.97. The firm has a market cap of $98.29 billion, a PE ratio of 14.16, a P/E/G ratio of 0.23 and a beta of 0.55.

Valero Energy (NYSE:VLO - Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The oil and gas company reported $12.54 earnings per share for the quarter, topping analysts' consensus estimates of $10.11 by $2.43. Valero Energy had a net margin of 5.17% and a return on equity of 26.74%. The business had revenue of $44.48 billion during the quarter, compared to the consensus estimate of $39.47 billion. During the same quarter in the prior year, the firm posted $2.28 earnings per share. The company's revenue was up 48.8% compared to the same quarter last year. On average, research analysts forecast that Valero Energy Corporation will post 40.62 EPS for the current year.

Valero Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 31st. Stockholders of record on Friday, July 31st will be given a $1.20 dividend. The ex-dividend date is Friday, July 31st. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.4%. Valero Energy's payout ratio is 19.92%.

Analyst Upgrades and Downgrades

VLO has been the topic of several recent research reports. TD Cowen upped their price target on shares of Valero Energy from $338.00 to $350.00 and gave the company a "hold" rating in a report on Monday, August 3rd. Piper Sandler reissued an "overweight" rating and issued a $329.00 price objective on shares of Valero Energy in a report on Thursday, July 23rd. Mizuho upped their target price on Valero Energy from $289.00 to $300.00 and gave the stock a "neutral" rating in a research note on Tuesday, August 4th. Citigroup raised their target price on Valero Energy from $259.00 to $302.00 and gave the stock a "neutral" rating in a report on Tuesday, July 14th. Finally, Morgan Stanley lifted their price target on Valero Energy from $232.00 to $255.00 and gave the company an "equal weight" rating in a research report on Friday, June 12th. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Valero Energy currently has a consensus rating of "Moderate Buy" and a consensus price target of $288.00.

Insider Activity at Valero Energy

In other news, SVP Eric A. Fisher sold 7,500 shares of the company's stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $268.17, for a total transaction of $2,011,275.00. Following the completion of the transaction, the senior vice president directly owned 19,742 shares of the company's stock, valued at $5,294,212.14. This represents a 27.53% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 0.36% of the stock is owned by company insiders.

About Valero Energy

Valero Energy Corporation is a San Antonio, Texas–based integrated downstream energy company that manufactures and markets transportation fuels, petrochemical feedstocks and other industrial products. The company's operations focus on refining crude oil into finished fuels such as gasoline, diesel and jet fuel, as well as producing asphalt and other refined product streams for commercial and industrial customers.

In addition to refining, Valero has significant operations in renewable fuels, including the production of ethanol and other biofuels, and it manages an extensive logistics network of pipelines, terminals, rail and marine assets to move feedstocks and finished products.

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