Kingstone Capital Partners Texas LLC Buys New Shares 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 acquired a new stake in Valero Energy Corporation (NYSE:VLO - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 626,774 shares of the oil and gas company's stock, valued at approximately $86,647,000. Kingstone Capital Partners Texas LLC owned 0.20% of Valero Energy at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of VLO. Vanguard Group Inc. raised its position in shares of Valero Energy by 12.0% in the 1st 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 acquiring an additional 4,155,522 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Valero Energy by 6.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 11,437,765 shares of the oil and gas company's stock worth $1,510,586,000 after purchasing an additional 736,533 shares during the period. Price T Rowe Associates Inc. MD raised its stake in Valero Energy by 276.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 10,795,436 shares of the oil and gas company's stock worth $1,425,754,000 after buying an additional 7,931,018 shares during the period. Invesco Ltd. raised its stake in Valero Energy by 34.1% during the 1st quarter. Invesco Ltd. now owns 4,905,145 shares of the oil and gas company's stock worth $647,823,000 after buying an additional 1,247,196 shares during the period. Finally, Nuveen LLC acquired a new stake in Valero Energy during the 1st quarter worth $529,864,000. 78.69% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have commented on VLO shares. Wells Fargo & Company raised their target price on shares of Valero Energy from $151.00 to $168.00 and gave the stock an "overweight" rating in a report on Wednesday, July 9th. Evercore ISI lifted their price target on Valero Energy from $135.00 to $185.00 and gave the company an "in-line" rating in a research note on Friday. Mizuho lifted their price target on Valero Energy from $166.00 to $190.00 and gave the company an "outperform" rating in a research note on Monday, September 15th. Piper Sandler lifted their price target on Valero Energy from $171.00 to $200.00 and gave the company an "overweight" rating in a research note on Thursday, September 11th. Finally, Citigroup lowered Valero Energy from a "buy" rating to a "neutral" rating and lifted their target price for the company from $134.00 to $150.00 in a research report on Wednesday, July 16th. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat.com, Valero Energy presently has a consensus rating of "Moderate Buy" and an average target price of $165.00.

Valero Energy Stock Performance

Shares of VLO stock traded up $3.91 during trading on Monday, reaching $166.53. 1,953,826 shares of the company's stock were exchanged, compared to its average volume of 3,227,534. The company has a quick ratio of 1.11, a current ratio of 1.62 and a debt-to-equity ratio of 0.38. The stock has a market capitalization of $51.73 billion, a PE ratio of 69.39, a PEG ratio of 1.76 and a beta of 1.10. Valero Energy Corporation has a twelve month low of $99.00 and a twelve month high of $167.08. The firm's fifty day moving average price is $146.45 and its 200-day moving average price is $134.14.

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 (EPS) for the quarter, topping analysts' consensus estimates of $1.66 by $0.62. The business had revenue of $29.89 billion for the quarter, compared to the consensus estimate of $27 billion. Valero Energy had a return on equity of 5.76% and a net margin of 0.62%.The firm's quarterly revenue was down 13.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.71 earnings per share. As a group, sell-side analysts anticipate that Valero Energy Corporation will post 7.92 EPS for the current year.

Valero Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Thursday, July 31st were issued a dividend of $1.13 per share. The ex-dividend date of this dividend was Thursday, July 31st. This represents a $4.52 annualized dividend and a yield of 2.7%. Valero Energy's payout ratio is presently 188.33%.

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.