Truist Financial Corp Raises Position in Valero Energy Corporation (NYSE:VLO)

Truist Financial Corp grew its stake in Valero Energy Corporation (NYSE:VLO - Free Report) by 6.8% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 380,118 shares of the oil and gas company's stock after purchasing an additional 24,126 shares during the quarter. Truist Financial Corp owned approximately 0.12% of Valero Energy worth $50,202,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Ameriflex Group Inc. purchased a new stake in shares of Valero Energy during the 4th quarter worth approximately $29,000. OFI Invest Asset Management bought a new position in Valero Energy in the 4th quarter worth approximately $37,000. Millstone Evans Group LLC purchased a new position in Valero Energy in the 4th quarter valued at approximately $44,000. SBI Securities Co. Ltd. bought a new stake in Valero Energy during the 4th quarter valued at $52,000. Finally, Transce3nd LLC purchased a new stake in shares of Valero Energy during the fourth quarter worth $58,000. 78.69% of the stock is owned by hedge funds and other institutional investors.

Valero Energy Stock Down 0.5%

Shares of VLO stock traded down $0.70 during midday trading on Monday, reaching $143.88. 2,537,476 shares of the stock were exchanged, compared to its average volume of 3,055,702. Valero Energy Corporation has a 1 year low of $99.00 and a 1 year high of $167.78. The firm has a market cap of $45.06 billion, a PE ratio of 50.84, a price-to-earnings-growth ratio of 2.50 and a beta of 1.00. The company's 50 day moving average is $130.58 and its two-hundred day moving average is $128.22. The company has a current ratio of 1.56, a quick ratio of 1.09 and a debt-to-equity ratio of 0.39.

Valero Energy (NYSE:VLO - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The oil and gas company reported $0.89 EPS for the quarter, missing the consensus estimate of $1.16 by ($0.27). Valero Energy had a net margin of 0.72% and a return on equity of 6.30%. The firm had revenue of $28.76 billion for the quarter, compared to analysts' expectations of $28.54 billion. During the same period in the prior year, the business posted $3.82 EPS. The business's quarterly revenue was down 4.7% compared to the same quarter last year. On average, equities research analysts predict that Valero Energy Corporation will post 7.92 EPS for the current year.

Valero Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Tuesday, May 20th were issued a dividend of $1.13 per share. The ex-dividend date was Tuesday, May 20th. This represents a $4.52 annualized dividend and a dividend yield of 3.14%. Valero Energy's payout ratio is 159.72%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. TD Cowen reduced their target price on Valero Energy from $121.00 to $118.00 and set a "buy" rating for the company in a report on Friday, April 25th. Scotiabank reduced their price objective on 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. JPMorgan Chase & Co. reduced their price objective 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. Piper Sandler lowered their price target on shares of Valero Energy from $144.00 to $140.00 and set an "overweight" rating for the company in a report on Friday, May 9th. Finally, Evercore ISI began coverage on shares of Valero Energy in a report on Wednesday, June 18th. They issued an "in-line" rating and a $135.00 price target on the stock. Three research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $150.88.

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.