Nordea Investment Management AB Has $7.74 Million Stock Position in Valero Energy Corporation $VLO

Key Points

• Nordea Investment Management AB significantly reduced its stake in Valero Energy Corporation by 86.5%, now owning 57,343 shares valued at $7.74 million.
• Analyst ratings for Valero Energy show mixed reviews, with reports indicating price targets ranging from $140 to $194 and a consensus rating of "Moderate Buy".
• Valero Energy's recent quarterly earnings showed an EPS of $2.28, exceeding expectations by $0.62, despite a 13.3% decline in year-over-year revenue.

Nordea Investment Management AB reduced its position in shares of Valero Energy Corporation (NYSE:VLO - Free Report) by 86.5% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 57,343 shares of the oil and gas company's stock after selling 366,270 shares during the period. Nordea Investment Management AB's holdings in Valero Energy were worth $7,744,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Kestra Private Wealth Services LLC boosted its holdings in shares of Valero Energy by 18.5% in the 1st quarter. Kestra Private Wealth Services LLC now owns 22,402 shares of the oil and gas company's stock worth $2,959,000 after acquiring an additional 3,503 shares in the last quarter. Hancock Whitney Corp raised its position in Valero Energy by 8.9% in the 1st quarter. Hancock Whitney Corp now owns 46,474 shares of the oil and gas company's stock valued at $6,138,000 after purchasing an additional 3,790 shares during the last quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund acquired a new position in Valero Energy in the first quarter worth $766,000. FORA Capital LLC bought a new stake in shares of Valero Energy during the first quarter worth $866,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of Valero Energy by 11.2% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 560,495 shares of the oil and gas company's stock worth $74,025,000 after purchasing an additional 56,274 shares during the last quarter. 78.69% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports on VLO. Jefferies Financial Group upped their price target on shares of Valero Energy from $181.00 to $194.00 and gave the stock a "buy" rating in a research report on Friday, October 10th. Morgan Stanley downgraded shares of Valero Energy from an "overweight" rating to an "equal weight" rating and boosted their target price for the stock from $160.00 to $175.00 in a research note on Friday, October 3rd. Barclays increased their price target on shares of Valero Energy from $151.00 to $169.00 and gave the company an "overweight" rating in a research note on Tuesday, October 7th. TD Cowen lowered shares of Valero Energy from a "buy" rating to a "hold" rating and raised their price target for the company from $118.00 to $140.00 in a report on Tuesday, July 22nd. Finally, Wolfe Research downgraded Valero Energy from an "outperform" rating to a "peer perform" rating in a report on Monday, July 14th. Three analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, Valero Energy presently has a consensus rating of "Moderate Buy" and an average target price of $173.27.

Valero Energy Stock Performance

VLO stock opened at $160.10 on Tuesday. Valero Energy Corporation has a twelve month low of $99.00 and a twelve month high of $178.43. 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 company has a market cap of $49.73 billion, a P/E ratio of 66.71, a price-to-earnings-growth ratio of 1.59 and a beta of 1.05. The business's fifty day moving average is $156.56 and its 200-day moving average is $139.44.

Valero Energy (NYSE:VLO - Get Free Report) last released 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. Valero Energy had a return on equity of 5.76% and a net margin of 0.62%.The business had revenue of $29.89 billion during the quarter, compared to the consensus estimate of $27 billion. During the same quarter in the prior year, the company posted $2.71 earnings per share. The firm's revenue was down 13.3% on a year-over-year basis. Equities research analysts forecast that Valero Energy Corporation will post 7.92 EPS for the current year.

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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