Kayne Anderson Rudnick Investment Management LLC Acquires 2,922 Shares of Valero Energy Corporation $VLO

Key Points

• Kayne Anderson Rudnick Investment Management LLC increased its stake in Valero Energy Corporation by 28.2% during the first quarter, bringing its total ownership to 13,281 shares worth approximately $1.75 million.
• Valero Energy announced a quarterly dividend of $1.13 per share, with a payout ratio currently at 188.33% and a yield of 3.1%.
• The company reported earnings of $2.28 per share for the last quarter, exceeding the expected $1.66, despite a year-over-year revenue decline of 13.3%.

Kayne Anderson Rudnick Investment Management LLC boosted its holdings in shares of Valero Energy Corporation (NYSE:VLO - Free Report) by 28.2% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 13,281 shares of the oil and gas company's stock after purchasing an additional 2,922 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC's holdings in Valero Energy were worth $1,754,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of VLO. Summit Financial LLC boosted its stake in shares of Valero Energy by 4.6% during the 1st quarter. Summit Financial LLC now owns 1,812 shares of the oil and gas company's stock worth $239,000 after acquiring an additional 79 shares in the last quarter. Citizens Financial Group Inc. RI boosted its stake in shares of Valero Energy by 2.2% during the 1st quarter. Citizens Financial Group Inc. RI now owns 3,798 shares of the oil and gas company's stock worth $502,000 after acquiring an additional 82 shares in the last quarter. Proficio Capital Partners LLC boosted its stake in shares of Valero Energy by 4.6% during the 1st quarter. Proficio Capital Partners LLC now owns 2,012 shares of the oil and gas company's stock worth $266,000 after acquiring an additional 89 shares in the last quarter. Horizon Investments LLC boosted its stake in shares of Valero Energy by 1.8% during the 1st quarter. Horizon Investments LLC now owns 5,456 shares of the oil and gas company's stock worth $721,000 after acquiring an additional 94 shares in the last quarter. Finally, Hemington Wealth Management boosted its stake in shares of 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 acquiring an additional 95 shares in the last quarter. 78.69% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

VLO has been the subject of several research analyst reports. Morgan Stanley upped their price target on shares of Valero Energy from $145.00 to $160.00 and gave the company an "overweight" rating in a research report on Wednesday, July 16th. Evercore ISI initiated coverage on Valero Energy in a report on Wednesday, June 18th. They issued an "in-line" rating and a $135.00 target price on the stock. Wolfe Research downgraded Valero Energy from an "outperform" rating to a "peer perform" rating in a report on Monday, July 14th. TD Cowen downgraded Valero Energy from a "buy" rating to a "hold" rating and upped their target price for the company from $118.00 to $140.00 in a report on Tuesday, July 22nd. Finally, Wells Fargo & Company upped their target price on Valero Energy from $151.00 to $168.00 and gave the company an "overweight" rating in a report on Wednesday, July 9th. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $154.47.

Valero Energy Stock Up 0.7%

Shares of VLO stock traded up $1.11 on Friday, hitting $152.27. The company's stock had a trading volume of 2,242,681 shares, compared to its average volume of 2,159,081. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.62 and a quick ratio of 1.11. Valero Energy Corporation has a fifty-two week low of $99.00 and a fifty-two week high of $155.12. The firm's fifty day moving average price is $141.57 and its 200-day moving average price is $131.39. The stock has a market capitalization of $47.30 billion, a price-to-earnings ratio of 63.44, a P/E/G ratio of 3.53 and a beta of 1.03.

Valero Energy (NYSE:VLO - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The oil and gas company reported $2.28 EPS for the quarter, beating analysts' consensus estimates of $1.66 by $0.62. The company had revenue of $29.89 billion for the quarter, compared to analyst estimates of $27 billion. Valero Energy had a net margin of 0.62% and a return on equity of 5.76%. The company's quarterly revenue was down 13.3% compared to the same quarter last year. During the same quarter last year, the firm posted $2.71 earnings per share. Research analysts anticipate that Valero Energy Corporation will post 7.92 EPS for the current year.

Valero Energy Dividend Announcement

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

About Valero Energy

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.