Quarry LP Purchases 3,446 Shares of Valero Energy Corporation $VLO

Key Points

• Quarry LP substantially increased its stake in Valero Energy Corporation by purchasing 3,446 shares, resulting in an overall ownership of 3,831 shares worth $506,000.
• Valero Energy recently declared a quarterly dividend of $1.13 per share, representing an annualized dividend of $4.52 and a yield of 3.0%.
• Several analysts have raised their price targets for Valero Energy, with Goldman Sachs increasing it from $127 to $154, indicating positive sentiment and growth potential for the company.

Quarry LP increased its holdings in Valero Energy Corporation (NYSE:VLO - Free Report) by 895.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,831 shares of the oil and gas company's stock after buying an additional 3,446 shares during the quarter. Quarry LP's holdings in Valero Energy were worth $506,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. DRW Securities LLC boosted its holdings in shares of Valero Energy by 64.3% in the first quarter. DRW Securities LLC now owns 20,000 shares of the oil and gas company's stock worth $2,641,000 after buying an additional 7,827 shares during the last quarter. Pinnacle Wealth Planning Services Inc. boosted its holdings in shares of Valero Energy by 1.4% in 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 buying an additional 78 shares during the last quarter. Magnetar Financial LLC purchased a new position in shares of Valero Energy in the first quarter worth approximately $227,000. Canada Pension Plan Investment Board boosted its holdings in shares of Valero Energy by 249.7% in the first quarter. Canada Pension Plan Investment Board now owns 422,233 shares of the oil and gas company's stock worth $55,764,000 after buying an additional 301,484 shares during the last quarter. Finally, Transamerica Financial Advisors LLC boosted its holdings in shares of Valero Energy by 383.4% in the first quarter. Transamerica Financial Advisors LLC now owns 6,710 shares of the oil and gas company's stock worth $887,000 after buying an additional 5,322 shares during the last quarter. Hedge funds and other institutional investors own 78.69% of the company's stock.

Valero Energy Price Performance

VLO traded up $0.02 during trading hours on Thursday, hitting $155.40. The company's stock had a trading volume of 2,611,292 shares, compared to its average volume of 3,234,926. The business's 50-day moving average price is $142.63 and its 200-day moving average price is $131.84. Valero Energy Corporation has a 12 month low of $99.00 and a 12 month high of $159.26. The stock has a market cap of $48.28 billion, a price-to-earnings ratio of 64.75, a P/E/G ratio of 3.55 and a beta of 1.10. The company has a current ratio of 1.62, a quick ratio of 1.11 and a debt-to-equity ratio of 0.38.

Valero Energy (NYSE:VLO - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The oil and gas company reported $2.28 earnings per share for the quarter, topping the consensus estimate of $1.66 by $0.62. Valero Energy had a net margin of 0.62% and a return on equity of 5.76%. The company had revenue of $29.89 billion for the quarter, compared to analysts' expectations of $27 billion. During the same quarter in the previous year, the business posted $2.71 earnings per share. Valero Energy's quarterly revenue was down 13.3% on a year-over-year basis. Sell-side analysts expect that Valero Energy Corporation will post 7.92 earnings per share for the current fiscal year.

Valero Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Thursday, July 31st were given a dividend of $1.13 per share. The ex-dividend date was Thursday, July 31st. This represents a $4.52 dividend on an annualized basis and a yield of 2.9%. Valero Energy's payout ratio is 188.33%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on VLO. Piper Sandler raised their price objective on shares of Valero Energy from $159.00 to $168.00 and gave the stock an "overweight" rating in a report on Monday, July 28th. The Goldman Sachs Group raised shares of Valero Energy from a "neutral" rating to a "buy" rating and lifted their price target for the company from $127.00 to $154.00 in a report on Tuesday, May 13th. Morgan Stanley lifted their price target on shares of Valero Energy from $145.00 to $160.00 and gave the company an "overweight" rating in a report on Wednesday, July 16th. Raymond James Financial lifted their price target on shares of Valero Energy from $155.00 to $172.00 and gave the company a "strong-buy" rating in a report on Tuesday, July 15th. Finally, Barclays lifted their price target on shares of Valero Energy from $140.00 to $141.00 and gave the company an "overweight" rating in a report on Monday, May 12th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $156.40.

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.