Valero Energy Corporation (NYSE:VLO) Shares Acquired by Public Sector Pension Investment Board

Key Points

• Public Sector Pension Investment Board increased its stake in Valero Energy Corporation by 3.0% during the 1st quarter, owning 84,637 shares valued at $11.18 million.
• Valero Energy reported $2.28 earnings per share (EPS) for the last quarter, exceeding analysts' estimates, while its revenue was $29.89 billion, but down 13.3% year-over-year.
• The company declared a quarterly dividend of $1.13, representing an annualized dividend yield of 3.4% with a high dividend payout ratio of 188.33%.

Public Sector Pension Investment Board grew its stake in Valero Energy Corporation (NYSE:VLO - Free Report) by 3.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 84,637 shares of the oil and gas company's stock after buying an additional 2,450 shares during the period. Public Sector Pension Investment Board's holdings in Valero Energy were worth $11,178,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. WP Advisors LLC boosted its stake in Valero Energy by 1.1% during the 1st quarter. WP Advisors LLC now owns 35,923 shares of the oil and gas company's stock worth $4,744,000 after purchasing an additional 399 shares during the period. SouthState Corp boosted its stake in Valero Energy by 195.3% during the 1st quarter. SouthState Corp now owns 120,041 shares of the oil and gas company's stock worth $15,854,000 after purchasing an additional 79,389 shares during the period. CCM Investment Group LLC acquired a new stake in Valero Energy during the 1st quarter worth $4,647,000. Nuveen LLC acquired a new stake in Valero Energy during the 1st quarter worth $529,864,000. Finally, Aigen Investment Management LP acquired a new stake in Valero Energy during the 1st quarter worth $268,000. Institutional investors and hedge funds own 78.69% of the company's stock.

Valero Energy Stock Up 1.1%

Shares of Valero Energy stock opened at $133.24 on Wednesday. The firm has a fifty day moving average of $139.27 and a two-hundred day moving average of $130.84. 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 $41.39 billion, a P/E ratio of 55.52, a PEG ratio of 3.12 and a beta of 1.03. Valero Energy Corporation has a one year low of $99.00 and a one year high of $155.12.

Valero Energy (NYSE:VLO - Get Free Report) last announced its quarterly earnings results 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 during the quarter, compared to the consensus estimate of $27 billion. Valero Energy had a net margin of 0.62% and a return on equity of 5.76%. The business's revenue was down 13.3% compared to the same quarter last year. During the same quarter last year, the firm posted $2.71 EPS. On average, analysts forecast that Valero Energy Corporation will post 7.92 earnings per share for the current year.

Valero Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Thursday, July 31st will be issued a $1.13 dividend. This represents a $4.52 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date is Thursday, July 31st. Valero Energy's dividend payout ratio (DPR) is currently 188.33%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on VLO. Barclays increased their price target on shares of Valero Energy from $140.00 to $141.00 and gave the stock an "overweight" rating in a research note on Monday, May 12th. Wolfe Research cut shares of Valero Energy from an "outperform" rating to a "peer perform" rating in a research note on Monday, July 14th. Morgan Stanley increased their price target on shares of Valero Energy from $145.00 to $160.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 16th. The Goldman Sachs Group upgraded shares of Valero Energy from a "neutral" rating to a "buy" rating and increased their price target for the stock from $127.00 to $154.00 in a research note on Tuesday, May 13th. Finally, Piper Sandler increased their price target on shares of Valero Energy from $159.00 to $168.00 and gave the stock an "overweight" rating in a research note on Monday, July 28th. Five investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $154.47.

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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