NewEdge Advisors LLC Boosts Stock Holdings in Valero Energy Corporation $VLO

Key Points

• NewEdge Advisors increased its Valero Energy stake by 13.1% in the second quarter, bringing its holdings to 67,092 shares valued at $17.47 million. Institutional investors collectively own 78.69% of the company.
• Wall Street analysts maintain a “Moderate Buy” consensus rating, with an average price target of $301.76; several firms recently raised their targets and ratings.
• Valero reported quarterly earnings of $12.54 per share, beating estimates by $2.43, while revenue rose 48.8% year over year to $44.48 billion. The company also pays a quarterly dividend of $1.20, equivalent to a 1.2% annual yield.

NewEdge Advisors LLC grew its holdings in Valero Energy Corporation (NYSE:VLO - Free Report) by 13.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 67,092 shares of the oil and gas company's stock after purchasing an additional 7,794 shares during the period. NewEdge Advisors LLC's holdings in Valero Energy were worth $17,474,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. California State Teachers Retirement System lifted its position in shares of Valero Energy by 40,516.1% during the second quarter. California State Teachers Retirement System now owns 143,816,270 shares of the oil and gas company's stock worth $37,455,509,000 after acquiring an additional 143,462,183 shares in the last quarter. Norges Bank bought a new stake in shares of Valero Energy during the 4th quarter valued at $1,111,542,000. Bank of America Corp DE purchased a new stake in Valero Energy during the 2nd quarter worth about $1,195,943,000. Arrowstreet Capital Limited Partnership purchased a new stake in Valero Energy during the 3rd quarter worth about $275,239,000. Finally, Pacer Advisors Inc. boosted its stake in Valero Energy by 2,635.7% in the 4th quarter. Pacer Advisors Inc. now owns 950,527 shares of the oil and gas company's stock worth $154,736,000 after purchasing an additional 915,782 shares during the period. 78.69% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on VLO. Piper Sandler lifted their target price on Valero Energy from $329.00 to $435.00 and gave the company an "overweight" rating in a report on Thursday, September 3rd. The Goldman Sachs Group increased their price target on shares of Valero Energy from $286.00 to $357.00 and gave the stock a "buy" rating in a report on Wednesday, July 22nd. Zacks Research upgraded shares of Valero Energy from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 4th. Barclays boosted their price objective on shares of Valero Energy from $279.00 to $323.00 and gave the company an "overweight" rating in a research note on Friday, July 31st. Finally, Morgan Stanley raised their price target on shares of Valero Energy from $232.00 to $255.00 and gave the company an "equal weight" rating in a report on Friday, June 12th. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $301.76.

Insider Transactions at Valero Energy

In other news, SVP Eric Fisher sold 7,500 shares of the company's stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $268.17, for a total value of $2,011,275.00. Following the completion of the transaction, the senior vice president directly owned 19,742 shares in the company, valued at approximately $5,294,212.14. This represents a 27.53% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.36% of the stock is currently owned by company insiders.

Valero Energy Stock Down 0.8%

Shares of NYSE VLO opened at $385.92 on Friday. The company has a current ratio of 1.64, a quick ratio of 1.23 and a debt-to-equity ratio of 0.37. The business has a 50-day moving average of $324.54 and a 200-day moving average of $270.47. The firm has a market capitalization of $111.12 billion, a price-to-earnings ratio of 16.01, a PEG ratio of 0.44 and a beta of 0.57. Valero Energy Corporation has a 12 month low of $155.29 and a 12 month high of $393.54.

Valero Energy (NYSE:VLO - Get Free Report) last announced its earnings results on Thursday, July 30th. The oil and gas company reported $12.54 earnings per share for the quarter, beating analysts' consensus estimates of $10.11 by $2.43. Valero Energy had a net margin of 5.17% and a return on equity of 26.74%. The business had revenue of $44.48 billion for the quarter, compared to the consensus estimate of $39.47 billion. During the same period last year, the firm posted $2.28 earnings per share. Valero Energy's quarterly revenue was up 48.8% on a year-over-year basis. Sell-side analysts expect that Valero Energy Corporation will post 41.15 earnings per share for the current fiscal year.

Valero Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, August 31st. Investors of record on Friday, July 31st were given a $1.20 dividend. The ex-dividend date was Friday, July 31st. This represents a $4.80 annualized dividend and a yield of 1.2%. Valero Energy's payout ratio is 19.92%.

Valero Energy Company Profile

Valero Energy Corporation is an international energy company headquartered in San Antonio, Texas. Its primary business is refining crude oil into transportation fuels and other products, including gasoline, diesel, jet fuel, asphalt, lubricants and petrochemical feedstocks.

Valero operates refineries and related facilities in the United States, Canada and the United Kingdom, and markets its products through wholesale and commercial channels in North America and other international markets.

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