Spirit of America Management Corp NY Has $7.37 Million Holdings in Valero Energy Corporation $VLO

Key Points

• Spirit of America Management Corp NY has reduced its stake in Valero Energy Corporation by 23.6%, holding 54,834 shares worth approximately $7.37 million, making it the firm's 12th largest position.
• Major institutional investors have significantly increased their holdings in Valero Energy, with Price T Rowe Associates boosting its position by 276.9%, now owning over 10 million shares valued at $1.43 billion.
• Valero Energy's stock received several positive price target upgrades from analysts, with estimates ranging from $175 to $200, and is currently rated as a "Moderate Buy" with a consensus target price of $173.27.

Spirit of America Management Corp NY cut its position in shares of Valero Energy Corporation (NYSE:VLO - Free Report) by 23.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 54,834 shares of the oil and gas company's stock after selling 16,950 shares during the quarter. Valero Energy comprises about 1.5% of Spirit of America Management Corp NY's holdings, making the stock its 12th largest position. Spirit of America Management Corp NY's holdings in Valero Energy were worth $7,371,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of VLO. Price T Rowe Associates Inc. MD increased its position in shares of Valero Energy by 276.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 10,795,436 shares of the oil and gas company's stock worth $1,425,754,000 after buying an additional 7,931,018 shares during the period. Vanguard Group Inc. increased its position in shares of Valero Energy by 12.0% during the first quarter. Vanguard Group Inc. now owns 38,881,222 shares of the oil and gas company's stock worth $5,135,043,000 after buying an additional 4,155,522 shares during the period. Nuveen LLC acquired a new stake in Valero Energy in the first quarter worth $529,864,000. Invesco Ltd. grew its holdings in Valero Energy by 34.1% in the first quarter. Invesco Ltd. now owns 4,905,145 shares of the oil and gas company's stock worth $647,823,000 after purchasing an additional 1,247,196 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in Valero Energy by 6.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 11,437,765 shares of the oil and gas company's stock worth $1,510,586,000 after purchasing an additional 736,533 shares during the period. 78.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Morgan Stanley cut shares of Valero Energy from an "overweight" rating to an "equal weight" rating and raised their price target for the stock from $160.00 to $175.00 in a report on Friday, October 3rd. Evercore ISI raised their price target on shares of Valero Energy from $135.00 to $185.00 and gave the stock an "in-line" rating in a report on Friday, September 19th. Mizuho raised their price target on shares of Valero Energy from $166.00 to $190.00 and gave the stock an "outperform" rating in a report on Monday, September 15th. Weiss Ratings restated a "hold (c)" rating on shares of Valero Energy in a report on Wednesday, October 8th. Finally, Piper Sandler lifted their price target on shares of Valero Energy from $171.00 to $200.00 and gave the company an "overweight" rating in a research report on Thursday, September 11th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $173.27.

Valero Energy Stock Up 0.8%

Shares of NYSE VLO opened at $157.62 on Friday. The stock has a market capitalization of $48.96 billion, a P/E ratio of 65.68, a P/E/G ratio of 1.61 and a beta of 1.05. The company has a 50-day moving average price of $155.99 and a 200-day moving average price of $138.84. Valero Energy Corporation has a 1 year low of $99.00 and a 1 year high of $178.43. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.62 and a quick ratio of 1.11.

Valero Energy (NYSE:VLO - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The oil and gas company reported $2.28 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.66 by $0.62. The firm had revenue of $29.89 billion during the quarter, compared to analysts' expectations of $27 billion. Valero Energy had a net margin of 0.62% and a return on equity of 5.76%. The business'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. On average, equities research analysts forecast that Valero Energy Corporation will post 7.92 EPS for the current fiscal year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.