Raymond James Financial Inc. Grows Stock Position in Valero Energy Corporation $VLO

Key Points

• Raymond James Financial Inc. increased its stake in Valero Energy Corporation by 2.8% in the first quarter, owning approximately 0.35% of the company's shares valued at about $146.7 million.
• Valero Energy reported earnings of $2.28 per share for the latest quarter, exceeding analysts' expectations and generating revenues of $29.89 billion.
• The company announced a quarterly dividend of $1.13 per share, resulting in an annualized yield of 3.3% with a high dividend payout ratio of 188.33%.

Raymond James Financial Inc. lifted its stake in Valero Energy Corporation (NYSE:VLO - Free Report) by 2.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,110,913 shares of the oil and gas company's stock after purchasing an additional 30,328 shares during the period. Raymond James Financial Inc. owned about 0.35% of Valero Energy worth $146,718,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Kestra Private Wealth Services LLC increased 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 valued at $2,959,000 after acquiring an additional 3,503 shares during the last quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund purchased a new position in shares of Valero Energy in the 1st quarter valued at about $766,000. Sendero Wealth Management LLC increased its holdings in shares of Valero Energy by 11.0% in the 1st quarter. Sendero Wealth Management LLC now owns 20,198 shares of the oil and gas company's stock valued at $2,668,000 after acquiring an additional 2,000 shares during the last quarter. AlTi Global Inc. increased its holdings in shares of Valero Energy by 18.2% in the 4th quarter. AlTi Global Inc. now owns 64,793 shares of the oil and gas company's stock valued at $8,585,000 after acquiring an additional 9,963 shares during the last quarter. Finally, Focus Partners Advisor Solutions LLC increased its holdings in shares of Valero Energy by 130.0% in the 4th quarter. Focus Partners Advisor Solutions LLC now owns 7,884 shares of the oil and gas company's stock valued at $967,000 after acquiring an additional 4,456 shares during the last quarter. 78.69% of the stock is owned by hedge funds and other institutional investors.

Valero Energy Stock Up 0.7%

Valero Energy stock opened at $136.73 on Monday. Valero Energy Corporation has a twelve month low of $99.00 and a twelve month high of $155.12. The stock has a 50 day moving average of $139.81 and a two-hundred day moving average of $130.74. The company has a current ratio of 1.62, a quick ratio of 1.11 and a debt-to-equity ratio of 0.38. The stock has a market capitalization of $42.48 billion, a price-to-earnings ratio of 56.97, a PEG ratio of 3.24 and a beta of 1.03.

Valero Energy (NYSE:VLO - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The oil and gas company reported $2.28 earnings per share for the quarter, topping 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 company had revenue of $29.89 billion during the quarter, compared to analysts' expectations of $27 billion. During the same period last year, the firm earned $2.71 EPS. The firm's revenue for the quarter was down 13.3% on a year-over-year basis. As a group, research analysts expect that Valero Energy Corporation will post 7.92 earnings per share for the current year.

Valero Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Thursday, July 31st will be given a dividend of $1.13 per share. This represents a $4.52 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend is Thursday, July 31st. Valero Energy's dividend payout ratio (DPR) is presently 188.33%.

Analyst Ratings Changes

VLO has been the topic of a number of recent analyst reports. Wells Fargo & Company increased their price objective on Valero Energy from $151.00 to $168.00 and gave the company an "overweight" rating in a report on Wednesday, July 9th. UBS Group increased their price objective on Valero Energy from $164.00 to $165.00 and gave the company a "buy" rating in a report on Friday, July 25th. Citigroup downgraded Valero Energy from a "buy" rating to a "neutral" rating and increased their price objective for the company from $134.00 to $150.00 in a report on Wednesday, July 16th. Barclays increased their price objective on Valero Energy from $140.00 to $141.00 and gave the company an "overweight" rating in a report on Monday, May 12th. Finally, The Goldman Sachs Group upgraded Valero Energy from a "neutral" rating to a "buy" rating and raised their price target for the stock from $127.00 to $154.00 in a research note on Tuesday, May 13th. Five research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, Valero Energy has an average rating of "Moderate Buy" and an average target price of $154.47.

Valero Energy Company 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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