National Bank of Canada FI Acquires 41,116 Shares of Valero Energy Corporation (NYSE:VLO)

Key Points

• National Bank of Canada FI increased its stake in Valero Energy Corporation by 42.8% in the first quarter, now owning 137,191 shares valued at approximately $18.12 million.
• Valero Energy recently reported earnings per share of $2.28, exceeding analyst expectations by $0.62, with revenues totaling $29.89 billion for the quarter.
• The company announced a quarterly dividend of $1.13 per share, reflecting an annualized yield of 3.4%, although its payout ratio is notably high at 188.33%.

National Bank of Canada FI grew its holdings in shares of Valero Energy Corporation (NYSE:VLO - Free Report) by 42.8% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 137,191 shares of the oil and gas company's stock after acquiring an additional 41,116 shares during the period. National Bank of Canada FI's holdings in Valero Energy were worth $18,119,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Wayfinding Financial LLC acquired a new position in shares of Valero Energy during the first quarter valued at about $26,000. Hazlett Burt & Watson Inc. grew its holdings in shares of Valero Energy by 156.6% during the first quarter. Hazlett Burt & Watson Inc. now owns 213 shares of the oil and gas company's stock valued at $28,000 after buying an additional 130 shares during the last quarter. Ameriflex Group Inc. acquired a new position in shares of Valero Energy during the fourth quarter valued at about $29,000. Iron Horse Wealth Management LLC acquired a new position in shares of Valero Energy during the first quarter valued at about $44,000. Finally, Hemington Wealth Management grew its holdings in shares of Valero Energy by 39.9% during the first quarter. Hemington Wealth Management now owns 333 shares of the oil and gas company's stock valued at $43,000 after buying an additional 95 shares during the last quarter. Institutional investors own 78.69% of the company's stock.

Valero Energy Stock Performance

VLO stock traded up $2.70 during mid-day trading on Wednesday, hitting $136.08. The company had a trading volume of 2,092,854 shares, compared to its average volume of 2,931,809. The firm has a market cap of $42.27 billion, a PE ratio of 56.70, a price-to-earnings-growth ratio of 3.16 and a beta of 1.03. 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 12 month low of $99.00 and a 12 month high of $155.12. The stock's fifty day moving average price is $139.46 and its two-hundred day moving average price is $130.88.

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 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 business had revenue of $29.89 billion for the quarter, compared to analyst estimates of $27 billion. During the same quarter in the previous year, the firm posted $2.71 earnings per share. The company's revenue for the quarter was down 13.3% on a year-over-year basis. On average, analysts forecast that Valero Energy Corporation will post 7.92 earnings per share for the current fiscal year.

Valero Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Thursday, July 31st will be given a $1.13 dividend. The ex-dividend date of this dividend is Thursday, July 31st. This represents a $4.52 annualized dividend and a dividend yield of 3.3%. Valero Energy's payout ratio is 188.33%.

Analyst Upgrades and Downgrades

VLO has been the subject of a number of analyst reports. Mizuho lifted their price objective on shares of Valero Energy from $158.00 to $166.00 and gave the company an "outperform" rating in a report on Tuesday, May 13th. Barclays lifted their price objective on shares of Valero Energy from $140.00 to $141.00 and gave the company an "overweight" rating in a report on Monday, May 12th. Citigroup cut shares of Valero Energy from a "buy" rating to a "neutral" rating and boosted their price target for the stock from $134.00 to $150.00 in a report on Wednesday, July 16th. TD Cowen cut shares of Valero Energy from a "buy" rating to a "hold" rating and boosted their price target for the stock from $118.00 to $140.00 in a report on Tuesday, July 22nd. Finally, Raymond James Financial boosted their price target on shares of Valero Energy from $155.00 to $172.00 and gave the stock a "strong-buy" rating in a report on Tuesday, July 15th. Five analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $154.47.

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.