Public Employees Retirement System of Ohio Acquires 2,946 Shares of Valero Energy Corporation $VLO

Key Points

• The Public Employees Retirement System of Ohio increased its stake in Valero Energy Corporation by 2.0%, acquiring an additional 2,946 shares, bringing its total holdings to 147,448 shares valued at approximately $19.82 million.
• Valero Energy reported a quarterly earnings per share (EPS) of $2.28, exceeding analyst estimates of $1.66, but noted a 13.3% year-over-year decline in revenue.
• The company recently declared a quarterly dividend of $1.13 per share, resulting in an annualized dividend of $4.52 and a yield of 2.6%, with a high dividend payout ratio of 188.33%.

Public Employees Retirement System of Ohio grew its stake in Valero Energy Corporation (NYSE:VLO - Free Report) by 2.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 147,448 shares of the oil and gas company's stock after purchasing an additional 2,946 shares during the period. Public Employees Retirement System of Ohio's holdings in Valero Energy were worth $19,820,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Pinnacle Wealth Planning Services Inc. raised its stake in Valero Energy by 1.4% during the first quarter. Pinnacle Wealth Planning Services Inc. now owns 5,541 shares of the oil and gas company's stock worth $732,000 after acquiring an additional 78 shares in the last quarter. Summit Financial LLC grew its holdings in shares of Valero Energy by 4.6% in the 1st quarter. Summit Financial LLC now owns 1,812 shares of the oil and gas company's stock worth $239,000 after purchasing an additional 79 shares during the last quarter. Keeley Teton Advisors LLC increased its position in shares of Valero Energy by 1.1% during the 1st quarter. Keeley Teton Advisors LLC now owns 7,764 shares of the oil and gas company's stock worth $1,025,000 after purchasing an additional 81 shares in the last quarter. Citizens Financial Group Inc. RI increased its position in shares of Valero Energy by 2.2% during the 1st quarter. Citizens Financial Group Inc. RI now owns 3,798 shares of the oil and gas company's stock worth $502,000 after purchasing an additional 82 shares in the last quarter. Finally, Proficio Capital Partners LLC lifted its holdings in Valero Energy by 4.6% during the 1st quarter. Proficio Capital Partners LLC now owns 2,012 shares of the oil and gas company's stock valued at $266,000 after purchasing an additional 89 shares during the last quarter. Institutional investors own 78.69% of the company's stock.

Valero Energy Trading Up 2.2%

VLO stock opened at $174.62 on Friday. The company has a quick ratio of 1.11, a current ratio of 1.62 and a debt-to-equity ratio of 0.38. Valero Energy Corporation has a twelve month low of $99.00 and a twelve month high of $176.02. The company has a market cap of $54.25 billion, a P/E ratio of 72.76, a PEG ratio of 1.80 and a beta of 1.10. The business has a fifty day moving average of $148.38 and a 200-day moving average of $135.25.

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 analysts' consensus estimates of $1.66 by $0.62. The firm had revenue of $29.89 billion during 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 company's revenue was down 13.3% on a year-over-year basis. During the same period last year, the company earned $2.71 earnings per share. As a group, equities research analysts expect that Valero Energy Corporation will post 7.92 EPS for the current year.

Valero Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Thursday, July 31st were issued a $1.13 dividend. This represents a $4.52 annualized dividend and a yield of 2.6%. The ex-dividend date was Thursday, July 31st. Valero Energy's dividend payout ratio is currently 188.33%.

Wall Street Analysts Forecast Growth

VLO has been the subject of several recent analyst reports. Bank of America raised shares of Valero Energy from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $152.00 to $179.00 in a report on Wednesday, September 3rd. Mizuho raised their price target on Valero Energy from $166.00 to $190.00 and gave the company an "outperform" rating in a report on Monday, September 15th. Evercore ISI lifted their price objective on Valero Energy from $135.00 to $185.00 and gave the company an "in-line" rating in a research report on Friday, September 19th. TD Cowen cut Valero Energy from a "buy" rating to a "hold" rating and increased their target price for the stock from $118.00 to $140.00 in a report on Tuesday, July 22nd. Finally, Wells Fargo & Company raised their target price on Valero Energy from $151.00 to $168.00 and gave the company an "overweight" rating in a research note on Wednesday, July 9th. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $165.00.

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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