Lbp Am Sa Buys 29,274 Shares of Valero Energy Corporation $VLO

Key Points

• Lbp Am Sa significantly increased its stake in Valero Energy Corporation by 283.9% during the second quarter, acquiring an additional 29,274 shares to reach a total of 39,584 shares valued at approximately $5.32 million.
• Several analysts have raised their price targets for Valero Energy, with Wells Fargo increasing its target from $151 to $168 and Raymond James lifting it from $170 to $177, reflecting strong optimism from the investment community.
• Valero Energy reported a quarterly earnings of $2.28 per share, exceeding expectations and generating a revenue of $29.89 billion, despite a 13.3% year-over-year decline in revenue.

Lbp Am Sa increased its stake in Valero Energy Corporation (NYSE:VLO - Free Report) by 283.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 39,584 shares of the oil and gas company's stock after purchasing an additional 29,274 shares during the quarter. Lbp Am Sa's holdings in Valero Energy were worth $5,321,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Hoey Investments Inc. bought a new stake in shares of Valero Energy in the 2nd quarter worth approximately $26,000. Wayfinding Financial LLC bought a new stake in shares of Valero Energy in the 1st quarter worth approximately $26,000. Hazlett Burt & Watson Inc. raised its holdings in shares of Valero Energy by 156.6% in the 1st quarter. Hazlett Burt & Watson Inc. now owns 213 shares of the oil and gas company's stock worth $28,000 after purchasing an additional 130 shares during the period. Ransom Advisory Ltd bought a new stake in shares of Valero Energy in the 1st quarter worth approximately $43,000. Finally, Iron Horse Wealth Management LLC bought a new stake in shares of Valero Energy in the 1st quarter worth approximately $44,000. Institutional investors own 78.69% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on VLO. Wells Fargo & Company increased their target price on Valero Energy from $151.00 to $168.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 9th. Raymond James Financial lifted their price target on Valero Energy from $170.00 to $177.00 and gave the company a "strong-buy" rating in a research report on Tuesday, September 9th. TD Cowen cut Valero Energy from a "buy" rating to a "hold" rating and lifted their price target for the company from $118.00 to $140.00 in a research report on Tuesday, July 22nd. Bank of America upgraded Valero Energy from a "neutral" rating to a "buy" rating and lifted their price target for the company from $152.00 to $179.00 in a research report on Wednesday, September 3rd. Finally, Citigroup cut Valero Energy from a "buy" rating to a "neutral" rating and lifted their price target for the company from $134.00 to $150.00 in a research report on Wednesday, July 16th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, Valero Energy currently has a consensus rating of "Moderate Buy" and an average price target of $165.00.

Valero Energy Trading Down 1.5%

Valero Energy stock opened at $167.63 on Thursday. The stock has a market cap of $52.07 billion, a P/E ratio of 69.84, a PEG ratio of 1.79 and a beta of 1.05. Valero Energy Corporation has a fifty-two week low of $99.00 and a fifty-two week high of $178.43. The firm's fifty day moving average price is $150.40 and its 200-day moving average price is $136.51. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.11 and a current ratio of 1.62.

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 earnings per share for the quarter, topping the consensus estimate of $1.66 by $0.62. The firm had revenue of $29.89 billion for the quarter, compared to analysts' expectations of $27 billion. Valero Energy had a net margin of 0.62% and a return on equity of 5.76%. The business's quarterly revenue was down 13.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.71 earnings per share. Equities research analysts forecast that Valero Energy Corporation will post 7.92 earnings per share for the current fiscal year.

Valero Energy Announces Dividend

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

Valero Energy Company 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.

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