Pallas Capital Advisors LLC Purchases Shares of 8,247 Valero Energy Co. (NYSE:VLO)

Pallas Capital Advisors LLC purchased a new position in Valero Energy Co. (NYSE:VLO - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 8,247 shares of the oil and gas company's stock, valued at approximately $1,089,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Ameriflex Group Inc. bought a new stake in Valero Energy during the fourth quarter worth $29,000. OFI Invest Asset Management bought a new position in Valero Energy in the 4th quarter worth about $37,000. Golden State Wealth Management LLC purchased a new stake in shares of Valero Energy during the 4th quarter valued at $38,000. Creative Capital Management Investments LLC raised its stake in shares of Valero Energy by 122.0% during the fourth quarter. Creative Capital Management Investments LLC now owns 333 shares of the oil and gas company's stock worth $41,000 after acquiring an additional 183 shares in the last quarter. Finally, Millstone Evans Group LLC purchased a new stake in Valero Energy during the 4th quarter valued at about $44,000. 78.69% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. Raymond James dropped their target price on shares of Valero Energy from $165.00 to $155.00 and set a "strong-buy" rating on the stock in a report on Wednesday, April 9th. UBS Group cut their target price on Valero Energy from $160.00 to $150.00 and set a "buy" rating for the company in a research report on Monday, April 28th. Morgan Stanley reduced their price objective on Valero Energy from $160.00 to $145.00 and set an "overweight" rating on the stock in a research note on Thursday, April 24th. The Goldman Sachs Group upgraded Valero Energy from a "neutral" rating to a "buy" rating and increased their target price for the stock from $127.00 to $154.00 in a research note on Tuesday, May 13th. Finally, Scotiabank lowered their price target on Valero Energy from $156.00 to $136.00 and set a "sector outperform" rating for the company in a report on Friday, April 11th. Two equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $151.93.

Valero Energy Price Performance

Shares of VLO traded down $1.17 during trading hours on Thursday, hitting $132.89. 539,488 shares of the company were exchanged, compared to its average volume of 3,027,226. The firm has a fifty day simple moving average of $121.14 and a 200-day simple moving average of $127.64. The company has a market capitalization of $41.62 billion, a PE ratio of 15.67, a PEG ratio of 2.93 and a beta of 0.99. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.57 and a quick ratio of 1.11. Valero Energy Co. has a one year low of $99.00 and a one year high of $167.78.

Valero Energy (NYSE:VLO - Get Free Report) last issued its earnings results on Thursday, April 24th. The oil and gas company reported $0.89 earnings per share for the quarter, missing analysts' consensus estimates of $1.16 by ($0.27). The business had revenue of $28.76 billion during the quarter, compared to analyst estimates of $28.54 billion. Valero Energy had a net margin of 2.13% and a return on equity of 9.58%. Valero Energy's revenue for the quarter was down 4.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.82 EPS. As a group, sell-side analysts predict that Valero Energy Co. will post 7.92 earnings per share for the current year.

Valero Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Tuesday, May 20th will be issued a dividend of $1.13 per share. This represents a $4.52 dividend on an annualized basis and a yield of 3.40%. The ex-dividend date of this dividend is Tuesday, May 20th. Valero Energy's dividend payout ratio (DPR) is 159.72%.

About Valero Energy

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.