TD Asset Management Inc Has $15.35 Million Position in Valero Energy Corporation $VLO

Key Points

• TD Asset Management Inc reduced its stake in Valero Energy Corporation by 17.0% during the 2nd quarter, owning 114,172 shares worth approximately $15.35 million after selling 23,387 shares.
• Valero Energy reported $2.28 earnings per share for the most recent quarter, exceeding analysts' estimates of $1.66, despite a 13.3% decline in year-over-year revenue at $29.89 billion.
• Analysts have varied ratings on Valero Energy, with Barclays raising its price target to $169.00 and Wells Fargo establishing a new price target of $216.00, reflecting a general consensus rating of "Moderate Buy."

TD Asset Management Inc cut its stake in shares of Valero Energy Corporation (NYSE:VLO - Free Report) by 17.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 114,172 shares of the oil and gas company's stock after selling 23,387 shares during the quarter. TD Asset Management Inc's holdings in Valero Energy were worth $15,347,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of VLO. Wayfinding Financial LLC acquired a new position in Valero Energy during the 1st quarter worth about $26,000. Hoey Investments Inc. acquired a new position in Valero Energy during the 2nd quarter worth about $26,000. GFG Capital LLC acquired a new position in Valero Energy during the 2nd quarter worth about $27,000. Hazlett Burt & Watson Inc. lifted its holdings in Valero Energy by 156.6% during the 1st quarter. Hazlett Burt & Watson Inc. now owns 213 shares of the oil and gas company's stock worth $28,000 after buying an additional 130 shares during the period. Finally, Hemington Wealth Management lifted its stake in shares of Valero Energy by 39.9% in the 1st quarter. Hemington Wealth Management now owns 333 shares of the oil and gas company's stock valued at $43,000 after purchasing an additional 95 shares during the period. 78.69% of the stock is owned by institutional investors and hedge funds.

Valero Energy Stock Up 0.8%

VLO stock opened at $157.62 on Friday. The stock's 50 day simple moving average is $155.99 and its 200 day simple moving average is $138.88. Valero Energy Corporation has a fifty-two week low of $99.00 and a fifty-two week high of $178.43. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.11 and a current ratio of 1.62. The company has a market cap of $48.96 billion, a P/E ratio of 65.68, a price-to-earnings-growth ratio of 1.62 and a beta of 1.05.

Valero Energy (NYSE:VLO - Get Free Report) last posted its quarterly earnings results 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 business had revenue of $29.89 billion for the quarter, compared to the consensus estimate of $27 billion. During the same period in the prior year, the business earned $2.71 EPS. The firm's revenue for the quarter was down 13.3% on a year-over-year basis. On average, research analysts expect that Valero Energy Corporation will post 7.92 earnings per share for the current fiscal year.

Analysts Set New Price Targets

VLO has been the topic of a number of recent analyst reports. Wolfe Research downgraded Valero Energy from an "outperform" rating to a "peer perform" rating in a research note on Monday, July 14th. Barclays boosted their price objective on Valero Energy from $151.00 to $169.00 and gave the company an "overweight" rating in a research note on Tuesday, October 7th. Raymond James Financial reissued a "strong-buy" rating and issued a $181.00 price objective (up from $177.00) on shares of Valero Energy in a research note on Friday. Wells Fargo & Company initiated coverage on Valero Energy in a research note on Friday. They issued an "overweight" rating and a $216.00 price objective on the stock. Finally, TD Cowen downgraded Valero Energy from a "buy" rating to a "hold" rating and boosted their price objective for the company from $118.00 to $140.00 in a research note on Tuesday, July 22nd. Three investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, Valero Energy currently has a consensus rating of "Moderate Buy" and an average price target of $173.27.

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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