Kwmg LLC Boosts Stock Holdings in Valero Energy Corporation $VLO

Key Points

• Kwmg LLC increased its stake in Valero Energy Corporation by 4.3% in the second quarter, owning a total of 91,005 shares valued at approximately $12.23 million.
• Valero Energy recently reported an EPS of $2.28 for the last quarter, surpassing estimates, although revenue declined 13.3% year-over-year.
• A number of analysts upgraded their price targets for Valero Energy, with Bank of America raising its target from $152 to $179 and Mizuho from $166 to $190, indicating strong investor confidence.

Kwmg LLC raised its holdings in Valero Energy Corporation (NYSE:VLO - Free Report) by 4.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 91,005 shares of the oil and gas company's stock after purchasing an additional 3,784 shares during the period. Valero Energy accounts for about 1.1% of Kwmg LLC's holdings, making the stock its 27th biggest position. Kwmg LLC's holdings in Valero Energy were worth $12,233,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the business. Pinnacle Wealth Planning Services Inc. increased its stake in shares of Valero Energy by 1.4% in the first quarter. Pinnacle Wealth Planning Services Inc. now owns 5,541 shares of the oil and gas company's stock worth $732,000 after purchasing an additional 78 shares in the last quarter. Summit Financial LLC boosted its position in shares of Valero Energy by 4.6% in the first quarter. Summit Financial LLC now owns 1,812 shares of the oil and gas company's stock valued at $239,000 after acquiring an additional 79 shares during the period. Keeley Teton Advisors LLC boosted its position in shares of Valero Energy by 1.1% in the first quarter. Keeley Teton Advisors LLC now owns 7,764 shares of the oil and gas company's stock valued at $1,025,000 after acquiring an additional 81 shares during the period. Citizens Financial Group Inc. RI boosted its position in shares of Valero Energy by 2.2% in the first quarter. Citizens Financial Group Inc. RI now owns 3,798 shares of the oil and gas company's stock valued at $502,000 after acquiring an additional 82 shares during the period. Finally, Proficio Capital Partners LLC boosted its position in shares of Valero Energy by 4.6% in the first quarter. Proficio Capital Partners LLC now owns 2,012 shares of the oil and gas company's stock valued at $266,000 after acquiring an additional 89 shares during the period. Hedge funds and other institutional investors own 78.69% of the company's stock.

Valero Energy Stock Up 2.4%

Shares of NYSE VLO opened at $166.52 on Tuesday. 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 Corporation has a 52 week low of $99.00 and a 52 week high of $167.08. The firm's fifty day moving average is $146.80 and its 200 day moving average is $134.42. The company has a market cap of $51.73 billion, a price-to-earnings ratio of 69.38, a PEG ratio of 1.76 and a beta of 1.10.

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

Valero Energy Announces Dividend

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

Analysts Set New Price Targets

A number of equities analysts have recently commented on VLO shares. Bank of America upgraded shares of Valero Energy from a "neutral" rating to a "buy" rating and raised their price objective for the company from $152.00 to $179.00 in a research report on Wednesday, September 3rd. Mizuho raised their price objective on shares of Valero Energy from $166.00 to $190.00 and gave the company an "outperform" rating in a research report on Monday, September 15th. UBS Group raised their price objective on shares of Valero Energy from $165.00 to $183.00 and gave the company a "buy" rating in a research report on Monday. Piper Sandler raised their price objective on shares of Valero Energy from $171.00 to $200.00 and gave the company an "overweight" rating in a research report on Thursday, September 11th. Finally, Morgan Stanley lifted their target price 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. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $165.00.

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.

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