Conning Inc. Boosts Holdings in Valero Energy Corporation (NYSE:VLO)

Conning Inc. boosted its holdings in Valero Energy Corporation (NYSE:VLO - Free Report) by 5,928.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 268,564 shares of the oil and gas company's stock after acquiring an additional 264,109 shares during the quarter. Conning Inc. owned 0.09% of Valero Energy worth $35,469,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. World Investment Advisors boosted its holdings in Valero Energy by 1.8% in the fourth quarter. World Investment Advisors now owns 4,323 shares of the oil and gas company's stock valued at $530,000 after acquiring an additional 78 shares during the last quarter. Providence Wealth Advisors LLC increased its stake in Valero Energy by 1.1% during the 4th quarter. Providence Wealth Advisors LLC now owns 8,878 shares of the oil and gas company's stock worth $1,086,000 after purchasing an additional 94 shares in the last quarter. Field & Main Bank increased its stake in Valero Energy by 1.2% during the 1st quarter. Field & Main Bank now owns 7,982 shares of the oil and gas company's stock worth $1,054,000 after purchasing an additional 97 shares in the last quarter. KCM Investment Advisors LLC boosted its position in shares of Valero Energy by 1.8% during the fourth quarter. KCM Investment Advisors LLC now owns 5,497 shares of the oil and gas company's stock worth $674,000 after buying an additional 99 shares during the period. Finally, NDVR Inc. lifted its stake in Valero Energy by 6.1% in the 4th quarter. NDVR Inc. now owns 1,852 shares of the oil and gas company's stock valued at $227,000 after acquiring an additional 106 shares in the last quarter. Institutional investors own 78.69% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Barclays increased their price target on Valero Energy from $140.00 to $141.00 and gave the company an "overweight" rating in a research report on Monday, May 12th. Evercore ISI assumed coverage on shares of Valero Energy in a report on Wednesday, June 18th. They set an "in-line" rating and a $135.00 target price for the company. Scotiabank lowered their target price on Valero Energy from $156.00 to $136.00 and set a "sector outperform" rating on the stock in a research note on Friday, April 11th. The Goldman Sachs Group raised Valero Energy from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $127.00 to $154.00 in a report on Tuesday, May 13th. Finally, JPMorgan Chase & Co. cut their price objective on Valero Energy from $152.00 to $147.00 and set an "overweight" rating on the stock in a report on Monday, April 28th. Three research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $150.88.

Valero Energy Stock Performance

VLO traded down $0.70 during trading on Monday, hitting $143.88. The company's stock had a trading volume of 2,537,476 shares, compared to its average volume of 3,055,702. The company has a quick ratio of 1.09, a current ratio of 1.56 and a debt-to-equity ratio of 0.39. Valero Energy Corporation has a one year low of $99.00 and a one year high of $167.78. The firm has a market cap of $45.06 billion, a PE ratio of 50.84, a P/E/G ratio of 2.50 and a beta of 1.00. The business's 50 day simple moving average is $130.58 and its 200-day simple moving average is $128.22.

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). The firm had revenue of $28.76 billion for the quarter, compared to the consensus estimate of $28.54 billion. Valero Energy had a net margin of 0.72% and a return on equity of 6.30%. The firm's revenue for the quarter was down 4.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.82 earnings per share. As a group, sell-side analysts predict that Valero Energy Corporation will post 7.92 EPS for the current fiscal year.

Valero Energy Announces Dividend

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

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.