Sunpointe LLC Buys 1,839 Shares of Valero Energy Corporation $VLO

Key Points

• Sunpointe LLC increased its holdings in Valero Energy Corporation by 58.3%, acquiring an additional 1,839 shares for a total of 4,994 shares valued at approximately $671,000.
• Valero recently reported $2.28 EPS for the quarter, surpassing analysts' expectations, while revenue was down 13.3% year-over-year.
• The company declared a quarterly dividend of $1.13 per share, resulting in an annualized dividend yield of 2.8% with a high payout ratio of 188.33%.

Sunpointe LLC boosted its position in shares of Valero Energy Corporation (NYSE:VLO - Free Report) by 58.3% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,994 shares of the oil and gas company's stock after buying an additional 1,839 shares during the quarter. Sunpointe LLC's holdings in Valero Energy were worth $671,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD boosted its stake in Valero Energy by 276.9% in the 1st 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 purchasing an additional 7,931,018 shares during the period. Vanguard Group Inc. boosted its stake in Valero Energy by 12.0% in the 1st quarter. Vanguard Group Inc. now owns 38,881,222 shares of the oil and gas company's stock worth $5,135,043,000 after purchasing an additional 4,155,522 shares during the period. Nuveen LLC acquired a new position in Valero Energy in the 1st quarter worth $529,864,000. GAMMA Investing LLC boosted its stake in Valero Energy by 15,395.5% in the 1st quarter. GAMMA Investing LLC now owns 1,355,699 shares of the oil and gas company's stock worth $179,047,000 after purchasing an additional 1,346,950 shares during the period. Finally, Invesco Ltd. boosted its stake in Valero Energy by 34.1% in the 1st 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. Institutional investors own 78.69% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Evercore ISI started coverage on Valero Energy in a report on Wednesday, June 18th. They issued an "in-line" rating and a $135.00 price objective for the company. Mizuho upped their price objective on Valero Energy from $166.00 to $190.00 and gave the stock an "outperform" rating in a research note on Monday. Raymond James Financial upped their price objective on Valero Energy from $170.00 to $177.00 and gave the stock a "strong-buy" rating in a research note on Tuesday, September 9th. Wells Fargo & Company upped their price objective on Valero Energy from $151.00 to $168.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 9th. Finally, Wolfe Research downgraded shares of Valero Energy from an "outperform" rating to a "peer perform" rating in a research note on Monday, July 14th. Two 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's stock. According to data from MarketBeat, Valero Energy has an average rating of "Moderate Buy" and a consensus target price of $160.47.

Valero Energy Price Performance

Shares of NYSE VLO traded up $0.23 during midday trading on Thursday, reaching $163.90. The company's stock had a trading volume of 2,492,524 shares, compared to its average volume of 2,490,594. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.11 and a current ratio of 1.62. Valero Energy Corporation has a fifty-two week low of $99.00 and a fifty-two week high of $165.65. The business's 50 day moving average price is $146.26 and its two-hundred day moving average price is $133.76. The company has a market cap of $50.92 billion, a P/E ratio of 68.29, a P/E/G ratio of 1.77 and a beta of 1.10.

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 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.66 by $0.62. The business had revenue of $29.89 billion for 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 firm's quarterly revenue was down 13.3% compared to the same quarter last year. During the same period last year, the firm posted $2.71 earnings per share. On average, analysts forecast that Valero Energy Corporation will post 7.92 EPS for the current fiscal year.

Valero Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Thursday, July 31st were paid a $1.13 dividend. This represents a $4.52 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend was Thursday, July 31st. Valero Energy's dividend payout ratio (DPR) is 188.33%.

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.