Ieq Capital LLC Has $8.59 Million Stock Holdings in Valero Energy Corporation $VLO

Key Points

• Ieq Capital LLC has significantly increased its holdings in Valero Energy Corporation by 132.4%, now owning 65,042 shares valued at approximately $8.59 million.
• Valero Energy reported earnings per share of $2.28 for the latest quarter, exceeding analysts' expectations by $0.62, despite a 13.3% year-over-year revenue decline.
• The company announced a quarterly dividend of $1.13, with a dividend yield of 3.0% and a high payout ratio of 188.33%.

Ieq Capital LLC lifted its position in Valero Energy Corporation (NYSE:VLO - Free Report) by 132.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 65,042 shares of the oil and gas company's stock after acquiring an additional 37,054 shares during the period. Ieq Capital LLC's holdings in Valero Energy were worth $8,590,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Wayfinding Financial LLC bought a new stake in Valero Energy during the 1st quarter worth approximately $26,000. Hazlett Burt & Watson Inc. increased 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 worth $28,000 after purchasing an additional 130 shares in the last quarter. Ameriflex Group Inc. bought a new stake in Valero Energy during the 4th quarter worth approximately $29,000. Iron Horse Wealth Management LLC bought a new stake in Valero Energy during the 1st quarter worth approximately $44,000. Finally, Hemington Wealth Management increased 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 worth $43,000 after purchasing an additional 95 shares in the last quarter. 78.69% of the stock is currently owned by institutional investors and hedge funds.

Valero Energy Price Performance

Shares of VLO opened at $150.73 on Thursday. The stock has a market capitalization of $46.82 billion, a P/E ratio of 62.80, a P/E/G ratio of 3.43 and a beta of 1.03. Valero Energy Corporation has a twelve month low of $99.00 and a twelve month high of $155.12. The company has a 50 day moving average of $141.11 and a 200-day moving average of $131.18. The company has a quick ratio of 1.11, a current ratio of 1.62 and a debt-to-equity ratio of 0.38.

Valero Energy (NYSE:VLO - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The oil and gas company reported $2.28 earnings per share for the quarter, topping the consensus estimate of $1.66 by $0.62. The company had revenue of $29.89 billion during the quarter, compared to analysts' expectations of $27 billion. Valero Energy had a net margin of 0.62% and a return on equity of 5.76%. The business's quarterly revenue was down 13.3% on a year-over-year basis. During the same period last year, the business earned $2.71 EPS. As a group, equities research analysts forecast that Valero Energy Corporation will post 7.92 EPS for the current fiscal year.

Valero Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Thursday, July 31st will be paid a $1.13 dividend. The ex-dividend date of this dividend is Thursday, July 31st. This represents a $4.52 annualized dividend and a dividend yield of 3.0%. Valero Energy's dividend payout ratio (DPR) is currently 188.33%.

Analyst Upgrades and Downgrades

VLO has been the subject of a number of research reports. Barclays increased their target price on Valero Energy from $140.00 to $141.00 and gave the stock an "overweight" rating in a research note on Monday, May 12th. Mizuho increased their target price on Valero Energy from $158.00 to $166.00 and gave the stock an "outperform" rating in a research note on Tuesday, May 13th. UBS Group increased their target price on Valero Energy from $164.00 to $165.00 and gave the stock a "buy" rating in a research note on Friday, July 25th. Evercore ISI began coverage on Valero Energy in a research note on Wednesday, June 18th. They set an "in-line" rating and a $135.00 target price for the company. Finally, Citigroup cut shares of Valero Energy from a "buy" rating to a "neutral" rating and raised their price target for the stock from $134.00 to $150.00 in a research note on Wednesday, July 16th. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $154.47.

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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