QRG Capital Management Inc. Raises Stock Position in Valero Energy Corporation $VLO

Key Points

• QRG Capital Management increased its Valero Energy stake by 27.5% in the first quarter, adding 11,976 shares to bring its total to 55,521 shares valued at about $13.7 million.
• Valero’s latest quarter beat expectations, posting EPS of $4.22 versus the $3.16 consensus and revenue of $32.38 billion, up 7% year over year.
• Analysts remain constructive on VLO, with a consensus rating of “Moderate Buy” and a target price of $247.59, while several firms recently raised their price targets.

QRG Capital Management Inc. grew its stake in shares of Valero Energy Corporation (NYSE:VLO - Free Report) by 27.5% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 55,521 shares of the oil and gas company's stock after acquiring an additional 11,976 shares during the period. QRG Capital Management Inc.'s holdings in Valero Energy were worth $13,718,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of VLO. Financial Life Planners bought a new position in Valero Energy in the first quarter worth approximately $28,000. JPL Wealth Management LLC bought a new stake in Valero Energy during the 3rd quarter valued at $27,000. Torren Management LLC bought a new stake in Valero Energy during the 4th quarter valued at $30,000. AXS Investments LLC purchased a new stake in shares of Valero Energy in the 4th quarter worth $32,000. Finally, Triumph Capital Management purchased a new stake in shares of Valero Energy in the 3rd quarter worth $35,000. Hedge funds and other institutional investors own 78.69% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently commented on VLO. UBS Group restated a "buy" rating and set a $280.00 price target on shares of Valero Energy in a research note on Thursday, June 11th. Piper Sandler upped their price objective on shares of Valero Energy from $236.00 to $263.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 8th. Barclays increased their target price on shares of Valero Energy from $261.00 to $279.00 and gave the stock an "overweight" rating in a report on Wednesday. TD Cowen raised their target price on shares of Valero Energy from $276.00 to $292.00 and gave the company a "hold" rating in a research report on Monday, June 29th. Finally, Citigroup boosted their price target on shares of Valero Energy from $246.00 to $259.00 and gave the company a "neutral" rating in a report on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $247.59.

Valero Energy Trading Up 0.1%

Shares of NYSE VLO opened at $267.99 on Friday. Valero Energy Corporation has a 1-year low of $130.78 and a 1-year high of $274.92. The business has a fifty day moving average price of $249.73 and a 200 day moving average price of $220.63. The stock has a market capitalization of $79.57 billion, a P/E ratio of 19.48, a price-to-earnings-growth ratio of 0.37 and a beta of 0.55. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.58 and a quick ratio of 1.15.

Valero Energy (NYSE:VLO - Get Free Report) last posted its earnings results on Thursday, April 30th. The oil and gas company reported $4.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.16 by $1.06. The company had revenue of $32.38 billion for the quarter, compared to analyst estimates of $31.38 billion. Valero Energy had a return on equity of 15.94% and a net margin of 3.37%.The firm's quarterly revenue was up 7.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.89 earnings per share. Equities research analysts expect that Valero Energy Corporation will post 28.37 EPS for the current fiscal year.

Valero Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 23rd. Stockholders of record on Thursday, May 21st were given a $1.20 dividend. The ex-dividend date of this dividend was Thursday, May 21st. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.8%. Valero Energy's payout ratio is presently 34.88%.

Insider Activity at Valero Energy

In related news, SVP Eric A. Fisher sold 7,500 shares of the business's stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $268.17, for a total transaction of $2,011,275.00. Following the completion of the transaction, the senior vice president owned 19,742 shares in the company, valued at $5,294,212.14. The trade was a 27.53% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.36% of the stock is currently owned by company insiders.

Valero Energy Profile

Valero Energy Corporation is a San Antonio, Texas–based integrated downstream energy company that manufactures and markets transportation fuels, petrochemical feedstocks and other industrial products. The company's operations focus on refining crude oil into finished fuels such as gasoline, diesel and jet fuel, as well as producing asphalt and other refined product streams for commercial and industrial customers.

In addition to refining, Valero has significant operations in renewable fuels, including the production of ethanol and other biofuels, and it manages an extensive logistics network of pipelines, terminals, rail and marine assets to move feedstocks and finished products.

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