Jennison Associates LLC Buys 19,288 Shares of Valero Energy Corporation $VLO

Key Points

• Jennison Associates increased its Valero Energy stake by 4.7%, purchasing 19,288 shares to bring its holdings to 432,725 shares valued at approximately $112.7 million. Institutional investors collectively own 78.69% of the company.
• Valero reported quarterly EPS of $12.54, surpassing estimates of $10.11, while revenue rose 48.8% year over year to $44.48 billion. The company also declared a $1.20 quarterly dividend, equivalent to a 1.4% annual yield.
• Analyst sentiment remains positive, with Valero receiving a “Moderate Buy” consensus rating and an average price target of $288, despite the stock opening at $341.36 and trading near its 52-week high.

Jennison Associates LLC boosted its stake in shares of Valero Energy Corporation (NYSE:VLO - Free Report) by 4.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 432,725 shares of the oil and gas company's stock after buying an additional 19,288 shares during the quarter. Jennison Associates LLC owned approximately 0.15% of Valero Energy worth $112,699,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Whipplewood Advisors LLC increased its stake in shares of Valero Energy by 3,400.0% in the first quarter. Whipplewood Advisors LLC now owns 105 shares of the oil and gas company's stock valued at $26,000 after buying an additional 102 shares during the period. JPL Wealth Management LLC acquired a new position in shares of Valero Energy in the third quarter worth approximately $27,000. Financial Life Planners acquired a new position in shares of Valero Energy in the first quarter worth approximately $28,000. Valued Wealth Advisors LLC boosted its holdings in 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 valued at $29,000 after acquiring an additional 67 shares during the last quarter. Finally, Torren Management LLC bought a new stake in Valero Energy in the fourth quarter valued at approximately $30,000. Institutional investors own 78.69% of the company's stock.

Insider Buying and Selling at Valero Energy

In related news, SVP Eric A. Fisher sold 7,500 shares of the business's stock in a transaction on Monday, June 29th. The shares were sold at an average price of $268.17, for a total transaction of $2,011,275.00. Following the transaction, the senior vice president owned 19,742 shares in the company, valued at $5,294,212.14. The trade was a 27.53% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.36% of the stock is owned by corporate insiders.

Valero Energy Trading Down 0.5%

NYSE VLO opened at $341.36 on Friday. The stock has a market capitalization of $98.29 billion, a P/E ratio of 14.16, a P/E/G ratio of 0.23 and a beta of 0.55. The business has a 50 day simple moving average of $283.92 and a 200 day simple moving average of $247.97. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.64 and a quick ratio of 1.23. Valero Energy Corporation has a one year low of $135.01 and a one year high of $346.09.

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

Valero Energy Announces Dividend

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

Wall Street Analyst Weigh In

Several research firms have issued reports on VLO. Barclays raised their price target on shares of Valero Energy from $279.00 to $323.00 and gave the stock an "overweight" rating in a report on Friday, July 31st. Morgan Stanley upped their price objective on shares of Valero Energy from $232.00 to $255.00 and gave the company an "equal weight" rating in a research note on Friday, June 12th. Raymond James Financial increased their price objective on shares of Valero Energy from $300.00 to $340.00 and gave the stock a "strong-buy" rating in a research report on Monday, July 13th. Zacks Research raised shares of Valero Energy from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, August 4th. Finally, Citigroup boosted their target price on shares of Valero Energy from $259.00 to $302.00 and gave the company a "neutral" rating in a report on Tuesday, July 14th. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Valero Energy presently has an average rating of "Moderate Buy" and an average target price of $288.00.

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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