Martingale Asset Management L P Raises Holdings in Valero Energy Corporation $VLO

Key Points

• Martingale Asset Management increased its holdings in Valero Energy by 321.3% during the first quarter, now owning 15,454 shares worth approximately $2.04 million.
• Valero Energy's earnings report revealed a quarterly EPS of $2.28, exceeding estimates of $1.66, despite a 13.3% decline in revenue year-over-year.
• The company announced a $1.13 quarterly dividend, resulting in an annualized yield of 3.1%, with a payout ratio of 188.33%.

Martingale Asset Management L P grew its position in shares of Valero Energy Corporation (NYSE:VLO - Free Report) by 321.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,454 shares of the oil and gas company's stock after buying an additional 11,786 shares during the period. Martingale Asset Management L P's holdings in Valero Energy were worth $2,041,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Kestra Private Wealth Services LLC lifted its position in shares of Valero Energy by 18.5% during the 1st quarter. Kestra Private Wealth Services LLC now owns 22,402 shares of the oil and gas company's stock valued at $2,959,000 after buying an additional 3,503 shares during the last quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund purchased a new position in shares of Valero Energy during the 1st quarter valued at $766,000. Sendero Wealth Management LLC lifted its position in shares of Valero Energy by 11.0% during the 1st quarter. Sendero Wealth Management LLC now owns 20,198 shares of the oil and gas company's stock valued at $2,668,000 after buying an additional 2,000 shares during the last quarter. AlTi Global Inc. lifted its position in shares of Valero Energy by 18.2% during the 4th quarter. AlTi Global Inc. now owns 64,793 shares of the oil and gas company's stock valued at $8,585,000 after buying an additional 9,963 shares during the last quarter. Finally, Focus Partners Advisor Solutions LLC lifted its position in shares of Valero Energy by 130.0% during the 4th quarter. Focus Partners Advisor Solutions LLC now owns 7,884 shares of the oil and gas company's stock valued at $967,000 after buying an additional 4,456 shares during the last quarter. Hedge funds and other institutional investors own 78.69% of the company's stock.

Wall Street Analysts Forecast Growth

VLO has been the topic of a number of recent research reports. JPMorgan Chase & Co. dropped their price objective on Valero Energy from $152.00 to $147.00 and set an "overweight" rating on the stock in a report on Monday, April 28th. Mizuho increased their price objective on Valero Energy from $158.00 to $166.00 and gave the stock an "outperform" rating in a report on Tuesday, May 13th. Evercore ISI initiated coverage on Valero Energy in a report on Wednesday, June 18th. They set an "in-line" rating and a $135.00 price objective on the stock. Wells Fargo & Company increased their price objective on Valero Energy from $151.00 to $168.00 and gave the stock an "overweight" rating in a report on Wednesday, July 9th. Finally, Barclays increased their price objective on Valero Energy from $140.00 to $141.00 and gave the stock an "overweight" rating in a report on Monday, May 12th. Two equities research 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 company's stock. Based on data from MarketBeat, Valero Energy currently has a consensus rating of "Moderate Buy" and a consensus target price of $154.47.

Valero Energy Price Performance

Shares of NYSE VLO opened at $145.1990 on Friday. The firm has a market capitalization of $45.11 billion, a P/E ratio of 60.50, a P/E/G ratio of 3.28 and a beta of 1.03. 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's 50-day simple moving average is $140.59 and its two-hundred day simple moving average is $130.93. Valero Energy Corporation has a twelve month low of $99.00 and a twelve month high of $155.12.

Valero Energy (NYSE:VLO - Get Free Report) last announced its earnings results on Thursday, July 24th. The oil and gas company reported $2.28 earnings per share 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 analyst estimates of $27 billion. Valero Energy had a return on equity of 5.76% and a net margin of 0.62%.The company's quarterly revenue was down 13.3% compared to the same quarter last year. During the same period in the prior year, the company earned $2.71 EPS. As a group, equities analysts anticipate that Valero Energy Corporation will post 7.92 EPS for the current fiscal year.

Valero Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Thursday, July 31st will be paid a $1.13 dividend. This represents a $4.52 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date is Thursday, July 31st. Valero Energy's dividend payout ratio is currently 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.

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