Newman Dignan & Sheerar Inc. Takes $215,000 Position in Valero Energy Corporation $VLO

Key Points

• Newman Dignan & Sheerar Inc. acquired a stake in Valero Energy Corporation worth approximately $215,000 by purchasing 1,596 shares in the 2nd quarter.
• Valero Energy recently faced downgrades and price target changes from several brokerages, with Citigroup moving from a "buy" to a "neutral" rating while maintaining a target price of $150.00.
• Valero Energy announced a quarterly dividend of $1.13 per share, resulting in an annualized dividend yield of 2.7% despite a high dividend payout ratio of 188.33%.

Newman Dignan & Sheerar Inc. bought a new stake in shares of Valero Energy Corporation (NYSE:VLO - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 1,596 shares of the oil and gas company's stock, valued at approximately $215,000.

Other hedge funds have also recently bought and sold shares of the company. Wayfinding Financial LLC purchased a new stake in Valero Energy in the 1st quarter worth about $26,000. Hoey Investments Inc. purchased a new stake in Valero Energy in the 2nd quarter worth about $26,000. Hazlett Burt & Watson Inc. lifted its stake in 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 acquiring an additional 130 shares in the last quarter. Hemington Wealth Management lifted its stake in Valero Energy by 39.9% in the 1st quarter. Hemington Wealth Management now owns 333 shares of the oil and gas company's stock worth $43,000 after acquiring an additional 95 shares in the last quarter. Finally, Ransom Advisory Ltd purchased a new stake in Valero Energy in the 1st quarter worth about $43,000. 78.69% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on VLO. Citigroup downgraded Valero Energy from a "buy" rating to a "neutral" rating and increased their price objective for the stock from $134.00 to $150.00 in a research note on Wednesday, July 16th. Morgan Stanley increased their price objective on Valero Energy from $145.00 to $160.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 16th. Raymond James Financial raised their price target on Valero Energy from $170.00 to $177.00 and gave the stock a "strong-buy" rating in a research note on Tuesday, September 9th. Piper Sandler raised their price target on Valero Energy from $171.00 to $200.00 and gave the stock an "overweight" rating in a research note on Thursday, September 11th. Finally, TD Cowen downgraded Valero Energy from a "buy" rating to a "hold" rating and raised their price target for the stock from $118.00 to $140.00 in a research note on Tuesday, July 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $165.00.

Valero Energy Stock Performance

Shares of NYSE VLO opened at $164.57 on Friday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.11 and a current ratio of 1.62. The firm has a market cap of $51.12 billion, a price-to-earnings ratio of 68.57, a P/E/G ratio of 1.77 and a beta of 1.05. The business's 50-day simple moving average is $150.88 and its 200-day simple moving average is $136.73. Valero Energy Corporation has a 52 week low of $99.00 and a 52 week high of $178.43.

Valero Energy (NYSE:VLO - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The oil and gas company reported $2.28 EPS for the quarter, beating 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 firm's revenue for the quarter was down 13.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.71 EPS. As a group, equities research analysts expect that Valero Energy Corporation will post 7.92 earnings per share for the current fiscal year.

Valero Energy Announces Dividend

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

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