Hsbc Holdings PLC Buys 158,470 Shares of Valero Energy Corporation $VLO

Key Points

• HSBC Holdings increased its Valero Energy position by 30.1% in the fourth quarter, buying 158,470 additional shares and bringing its total stake to 685,506 shares worth about $111.5 million.
• Valero reported stronger-than-expected quarterly results, posting $4.22 EPS versus the $3.16 consensus and revenue of $32.38 billion, up 7% year over year.
• The company declared a quarterly dividend of $1.20 per share payable June 23, while analysts remain generally positive with a consensus rating of Moderate Buy and an average price target of $245.59.

Hsbc Holdings PLC grew its position in Valero Energy Corporation (NYSE:VLO - Free Report) by 30.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 685,506 shares of the oil and gas company's stock after purchasing an additional 158,470 shares during the quarter. Hsbc Holdings PLC owned approximately 0.22% of Valero Energy worth $111,543,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. JPL Wealth Management LLC acquired a new stake in Valero Energy during the 3rd quarter worth about $27,000. Torren Management LLC bought a new position in shares of Valero Energy in the 4th quarter worth about $30,000. AXS Investments LLC acquired a new position in shares of Valero Energy in the 4th quarter valued at about $32,000. University of Texas Texas AM Investment Management Co. lifted its stake in shares of Valero Energy by 157.0% in the 4th quarter. University of Texas Texas AM Investment Management Co. now owns 203 shares of the oil and gas company's stock valued at $33,000 after purchasing an additional 124 shares during the period. Finally, Bruce G. Allen Investments LLC boosted its position in shares of Valero Energy by 32.9% during the 4th quarter. Bruce G. Allen Investments LLC now owns 206 shares of the oil and gas company's stock valued at $34,000 after purchasing an additional 51 shares in the last quarter. Institutional investors own 78.69% of the company's stock.

Valero Energy Stock Up 0.1%

VLO stock opened at $236.50 on Monday. The stock's 50 day simple moving average is $245.11 and its 200 day simple moving average is $215.10. The company has a market cap of $70.22 billion, a P/E ratio of 17.19, a price-to-earnings-growth ratio of 0.34 and a beta of 0.55. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.15 and a current ratio of 1.58. Valero Energy Corporation has a fifty-two week low of $130.78 and a fifty-two week high of $265.61.

Valero Energy (NYSE:VLO - Get Free Report) last announced its quarterly earnings data on Thursday, April 30th. The oil and gas company reported $4.22 EPS for the quarter, beating analysts' consensus estimates of $3.16 by $1.06. Valero Energy had a return on equity of 15.94% and a net margin of 3.37%.The firm had revenue of $32.38 billion during the quarter, compared to analysts' expectations of $31.38 billion. During the same quarter last year, the firm posted $0.89 earnings per share. The company's revenue for the quarter was up 7.0% compared to the same quarter last year. On average, research analysts expect that Valero Energy Corporation will post 27.45 earnings per share for the current fiscal year.

Valero Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 23rd. Shareholders of record on Thursday, May 21st will be paid a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date is Thursday, May 21st. Valero Energy's payout ratio is 34.88%.

Insider Buying and Selling

In other Valero Energy news, SVP Eric A. Fisher sold 7,500 shares of the company's stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $236.90, for a total transaction of $1,776,750.00. Following the transaction, the senior vice president owned 27,242 shares in the company, valued at approximately $6,453,629.80. This represents a 21.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.36% of the company's stock.

Wall Street Analysts Forecast Growth

VLO has been the subject of a number of research analyst reports. Piper Sandler lifted their target price on Valero Energy from $236.00 to $263.00 and gave the stock an "overweight" rating in a report on Wednesday, April 8th. Wells Fargo & Company increased their price target on Valero Energy from $220.00 to $292.00 and gave the stock an "overweight" rating in a report on Tuesday, March 31st. Morgan Stanley raised their price objective on shares of Valero Energy from $232.00 to $255.00 and gave the stock an "equal weight" rating in a research report on Friday, June 12th. Wall Street Zen upgraded shares of Valero Energy from a "buy" rating to a "strong-buy" rating in a research note on Saturday, April 4th. Finally, UBS Group reiterated a "buy" rating and set a $280.00 target price on shares of Valero Energy in a research report on Thursday, June 11th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $245.59.

Valero Energy Company Profile

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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