Stonegate Investment Group LLC Buys New Stake in Valero Energy Corporation (NYSE:VLO)

Stonegate Investment Group LLC purchased a new position in shares of Valero Energy Corporation (NYSE:VLO - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 4,538 shares of the oil and gas company's stock, valued at approximately $599,000.

Several other institutional investors have also recently made changes to their positions in VLO. Ameriflex Group Inc. purchased a new position in Valero Energy during the 4th quarter valued at about $29,000. OFI Invest Asset Management bought a new position in shares of Valero Energy during the fourth quarter valued at approximately $37,000. Millstone Evans Group LLC purchased a new position in Valero Energy during the fourth quarter valued at approximately $44,000. SBI Securities Co. Ltd. bought a new position in Valero Energy in the fourth quarter worth approximately $52,000. Finally, Transce3nd LLC purchased a new stake in Valero Energy during the fourth quarter worth $58,000. Hedge funds and other institutional investors own 78.69% of the company's stock.

Analyst Ratings Changes

VLO has been the subject of several recent research reports. TD Cowen reduced their price target on Valero Energy from $121.00 to $118.00 and set a "buy" rating for the company in a research report on Friday, April 25th. Mizuho boosted their target price on shares of Valero Energy from $158.00 to $166.00 and gave the stock an "outperform" rating in a report on Tuesday, May 13th. Piper Sandler lowered their price target on shares of Valero Energy from $144.00 to $140.00 and set an "overweight" rating on the stock in a report on Friday, May 9th. Scotiabank cut their price objective on shares of Valero Energy from $156.00 to $136.00 and set a "sector outperform" rating on the stock in a research report on Friday, April 11th. Finally, Raymond James Financial decreased their target price on shares of Valero Energy from $165.00 to $155.00 and set a "strong-buy" rating for the company in a research report on Wednesday, April 9th. Three investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Valero Energy currently has an average rating of "Moderate Buy" and an average target price of $150.88.

Valero Energy Stock Performance

NYSE:VLO traded down $0.13 during midday trading on Wednesday, hitting $135.72. The company's stock had a trading volume of 2,327,823 shares, compared to its average volume of 3,032,650. Valero Energy Corporation has a fifty-two week low of $99.00 and a fifty-two week high of $167.78. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.56 and a quick ratio of 1.09. The firm has a market cap of $42.51 billion, a P/E ratio of 47.96, a P/E/G ratio of 2.37 and a beta of 0.99. The firm's 50 day moving average is $126.21 and its 200-day moving average is $127.61.

Valero Energy (NYSE:VLO - Get Free Report) last issued its earnings results on Thursday, April 24th. The oil and gas company reported $0.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.16 by ($0.27). The business had revenue of $28.76 billion for the quarter, compared to analysts' expectations of $28.54 billion. Valero Energy had a return on equity of 6.30% and a net margin of 0.72%. The company's revenue for the quarter was down 4.7% on a year-over-year basis. During the same period last year, the business earned $3.82 EPS. Equities analysts anticipate that Valero Energy Corporation will post 7.92 earnings per share for the current fiscal year.

Valero Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Tuesday, May 20th were paid a dividend of $1.13 per share. The ex-dividend date was Tuesday, May 20th. This represents a $4.52 dividend on an annualized basis and a dividend yield of 3.33%. Valero Energy's payout ratio is currently 159.72%.

About Valero Energy

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.