Kingstone Capital Partners Texas LLC Invests $86.65 Million in Valero Energy Corporation $VLO

Key Points

• Kingstone Capital Partners Texas LLC has acquired a new position in Valero Energy Corporation, purchasing 626,774 shares valued at approximately $86.65 million.
• Analysts have recently raised their target prices for Valero Energy, with Wells Fargo increasing it from $151 to $168, while Mizuho lifted theirs from $166 to $190.
• Valero Energy reported $2.28 earnings per share in the last quarter, exceeding analysts' estimates of $1.66, although revenue declined by 13.3% year-over-year.

Kingstone Capital Partners Texas LLC purchased a new stake in Valero Energy Corporation (NYSE:VLO - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 626,774 shares of the oil and gas company's stock, valued at approximately $86,647,000. Kingstone Capital Partners Texas LLC owned about 0.20% of Valero Energy at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD increased its stake in Valero Energy by 276.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 10,795,436 shares of the oil and gas company's stock valued at $1,425,754,000 after purchasing an additional 7,931,018 shares during the period. Vanguard Group Inc. increased its stake in Valero Energy by 12.0% in the first quarter. Vanguard Group Inc. now owns 38,881,222 shares of the oil and gas company's stock valued at $5,135,043,000 after purchasing an additional 4,155,522 shares during the period. Nuveen LLC acquired a new position in Valero Energy in the first quarter valued at $529,864,000. GAMMA Investing LLC increased its stake in Valero Energy by 15,395.5% in the first quarter. GAMMA Investing LLC now owns 1,355,699 shares of the oil and gas company's stock valued at $179,047,000 after purchasing an additional 1,346,950 shares during the period. Finally, Invesco Ltd. raised its holdings in Valero Energy by 34.1% during the first quarter. Invesco Ltd. now owns 4,905,145 shares of the oil and gas company's stock worth $647,823,000 after purchasing an additional 1,247,196 shares in the last quarter. 78.69% of the stock is owned by hedge funds and other institutional investors.

Valero Energy Stock Up 2.8%

VLO stock traded up $4.65 during trading on Tuesday, reaching $171.09. The stock had a trading volume of 1,209,292 shares, compared to its average volume of 3,221,284. Valero Energy Corporation has a 1-year low of $99.00 and a 1-year high of $172.03. The company has a current ratio of 1.62, a quick ratio of 1.11 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $53.15 billion, a P/E ratio of 71.31, a PEG ratio of 1.76 and a beta of 1.10. The firm has a fifty day moving average price of $146.80 and a 200 day moving average price of $134.42.

Valero Energy (NYSE:VLO - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The oil and gas company reported $2.28 EPS for the quarter, topping analysts' consensus estimates of $1.66 by $0.62. The firm 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 firm's revenue was down 13.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.71 EPS. On average, equities analysts anticipate that Valero Energy Corporation will post 7.92 earnings per share for the current year.

Valero Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Thursday, July 31st were given a dividend of $1.13 per share. This represents a $4.52 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend was Thursday, July 31st. Valero Energy's dividend payout ratio is currently 188.33%.

Analysts Set New Price Targets

Several research firms recently issued reports on VLO. Bank of America raised shares of Valero Energy from a "neutral" rating to a "buy" rating and increased their price target for the stock from $152.00 to $179.00 in a report on Wednesday, September 3rd. Piper Sandler increased their price target on shares of Valero Energy from $171.00 to $200.00 and gave the stock an "overweight" rating in a report on Thursday, September 11th. Raymond James Financial increased their price target on shares of Valero Energy from $170.00 to $177.00 and gave the stock a "strong-buy" rating in a report on Tuesday, September 9th. Mizuho increased their price target on shares of Valero Energy from $166.00 to $190.00 and gave the stock an "outperform" rating in a report on Monday, September 15th. Finally, Citigroup cut shares of Valero Energy from a "buy" rating to a "neutral" rating and increased their price target for the stock from $134.00 to $150.00 in a report on Wednesday, July 16th. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $165.00.

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.