Valero Energy Corporation $VLO Position Boosted by MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Valero Energy Corporation by 3.3%, now owning 58,722 shares valued at $7,755,000.
• Valero Energy's stock is currently trading at $158.19 and has experienced a decline of 2.3% recently, with a 52-week range between $99.00 and $163.02.
• The company reported a quarterly earnings per share of $2.28, surpassing analysts' expectations of $1.66, despite a 13.3% revenue decline compared to the previous year.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Valero Energy Corporation (NYSE:VLO - Free Report) by 3.3% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 58,722 shares of the oil and gas company's stock after acquiring an additional 1,854 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.'s holdings in Valero Energy were worth $7,755,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Wayfinding Financial LLC acquired a new position in shares of Valero Energy in the first quarter worth $26,000. Hazlett Burt & Watson Inc. raised its holdings in shares of Valero Energy by 156.6% in the first quarter. Hazlett Burt & Watson Inc. now owns 213 shares of the oil and gas company's stock worth $28,000 after acquiring an additional 130 shares during the last quarter. Ameriflex Group Inc. acquired a new position in shares of Valero Energy in the fourth quarter worth $29,000. Iron Horse Wealth Management LLC purchased a new stake in shares of Valero Energy in the first quarter valued at $44,000. Finally, Hemington Wealth Management grew its position in shares of Valero Energy by 39.9% in the first quarter. Hemington Wealth Management now owns 333 shares of the oil and gas company's stock valued at $43,000 after purchasing an additional 95 shares during the period. 78.69% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Wells Fargo & Company lifted their price objective on Valero Energy from $151.00 to $168.00 and gave the company an "overweight" rating in a research report on Wednesday, July 9th. Bank of America raised Valero Energy from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $152.00 to $179.00 in a research report on Wednesday, September 3rd. Citigroup downgraded Valero Energy from a "buy" rating to a "neutral" rating and lifted their price objective for the company from $134.00 to $150.00 in a research report on Wednesday, July 16th. Evercore ISI initiated coverage on Valero Energy in a research report on Wednesday, June 18th. They set an "in-line" rating and a $135.00 price target for the company. Finally, Raymond James Financial boosted 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. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $158.87.

Valero Energy Stock Down 0.5%

Shares of NYSE:VLO traded down $0.81 during trading on Friday, hitting $156.78. The company's stock had a trading volume of 1,642,612 shares, compared to its average volume of 2,390,270. 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 Corporation has a fifty-two week low of $99.00 and a fifty-two week high of $163.02. The stock's 50-day moving average price is $145.24 and its two-hundred day moving average price is $132.87. The company has a market capitalization of $48.70 billion, a PE ratio of 65.33, a PEG ratio of 1.85 and a beta of 1.10.

Valero Energy (NYSE:VLO - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The oil and gas company reported $2.28 earnings per share (EPS) for the quarter, beating 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 return on equity of 5.76% and a net margin of 0.62%.Valero Energy's revenue for the quarter was down 13.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.71 earnings per share. As a group, sell-side analysts expect that Valero Energy Corporation will post 7.92 EPS for the current year.

Valero Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders 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 2.9%. The ex-dividend date was Thursday, July 31st. Valero Energy's dividend 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.