Scotia Capital Inc. Has $3.06 Million Holdings in Valero Energy Corporation (NYSE:VLO)

Key Points

• Scotia Capital Inc. increased its stake in Valero Energy Corporation by 8.7% during the first quarter, acquiring an additional 1,856 shares for a total of 23,151 shares valued at approximately $3.06 million.
• Valero Energy reported earnings of $2.28 per share for the last quarter, surpassing analysts' expectations by $0.62, despite a 13.3% decline in quarterly revenue year-over-year.
• The company recently announced a quarterly dividend of $1.13, providing an annual yield of 3.3%, with a payout ratio of 188.33%.

Scotia Capital Inc. increased its position in Valero Energy Corporation (NYSE:VLO - Free Report) by 8.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 23,151 shares of the oil and gas company's stock after purchasing an additional 1,856 shares during the quarter. Scotia Capital Inc.'s holdings in Valero Energy were worth $3,058,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in VLO. Cheviot Value Management LLC bought a new stake in shares of Valero Energy in the 1st quarter worth about $152,000. Banco Santander S.A. bought a new position in Valero Energy in the 1st quarter worth approximately $201,000. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund acquired a new position in shares of Valero Energy during the first quarter valued at $766,000. PNC Financial Services Group Inc. lifted its position in Valero Energy by 0.3% during the 1st quarter. PNC Financial Services Group Inc. now owns 151,196 shares of the oil and gas company's stock valued at $19,968,000 after purchasing an additional 499 shares during the period. Finally, SPC Financial Inc. boosted its stake in Valero Energy by 4.8% in the first quarter. SPC Financial Inc. now owns 8,672 shares of the oil and gas company's stock valued at $1,145,000 after acquiring an additional 400 shares during the last quarter. 78.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Citigroup lowered Valero Energy from a "buy" rating to a "neutral" rating and boosted their target price for the stock from $134.00 to $150.00 in a research report on Wednesday, July 16th. JPMorgan Chase & Co. dropped their price target on Valero Energy from $152.00 to $147.00 and set an "overweight" rating on the stock in a research note on Monday, April 28th. Morgan Stanley increased their target price on shares of Valero Energy from $145.00 to $160.00 and gave the stock an "overweight" rating in a report on Wednesday, July 16th. Wolfe Research downgraded Valero Energy from an "outperform" rating to a "peer perform" rating in a research note on Monday, July 14th. Finally, Piper Sandler boosted their price objective on shares of Valero Energy from $159.00 to $168.00 and gave the stock an "overweight" rating in a research note on Monday, July 28th. Five investment analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $154.47.

Valero Energy Stock Performance

Shares of Valero Energy stock traded down $0.89 during trading on Thursday, reaching $132.57. The company's stock had a trading volume of 2,060,061 shares, compared to its average volume of 3,124,334. 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 52 week low of $99.00 and a 52 week high of $155.12. The business's 50-day moving average price is $139.06 and its 200-day moving average price is $131.02. The firm has a market cap of $41.18 billion, a PE ratio of 55.24, a P/E/G ratio of 3.13 and a beta of 1.03.

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, beating the consensus estimate of $1.66 by $0.62. The business had revenue of $29.89 billion during the quarter, compared to the consensus estimate of $27 billion. Valero Energy had a net margin of 0.62% and a return on equity of 5.76%. The company's revenue was down 13.3% on a year-over-year basis. During the same period in the previous year, the business earned $2.71 earnings per share. Equities analysts forecast that Valero Energy Corporation will post 7.92 earnings per share for the current year.

Valero Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Thursday, July 31st will be paid a $1.13 dividend. The ex-dividend date of this dividend is Thursday, July 31st. This represents a $4.52 annualized dividend and a dividend yield of 3.4%. Valero Energy's dividend payout ratio is currently 188.33%.

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.