Valero Energy Corporation $VLO Shares Purchased by Brandywine Global Investment Management LLC

Key Points

• Brandywine Global Investment Management LLC increased its stake in Valero Energy Corporation (NYSE:VLO) by 136.1%, owning 476,230 shares worth approximately $62.9 million after acquiring an additional 274,500 shares in the first quarter.
• Valero Energy recently reported $2.28 earnings per share for the quarter, exceeding forecasts by $0.62, alongside a revenue of $29.89 billion, surpassing expectations as well.
• The company announced a quarterly dividend of $1.13 per share, translating to an annualized payout of $4.52 and a yield of 3.3%, with an ex-dividend date set for July 31.

Brandywine Global Investment Management LLC increased its holdings in Valero Energy Corporation (NYSE:VLO - Free Report) by 136.1% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 476,230 shares of the oil and gas company's stock after buying an additional 274,500 shares during the period. Brandywine Global Investment Management LLC owned about 0.15% of Valero Energy worth $62,896,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Wayfinding Financial LLC acquired a new position in shares of Valero Energy during the first quarter worth $26,000. Hazlett Burt & Watson Inc. raised its position 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 last quarter. Ameriflex Group Inc. purchased a new stake in Valero Energy in the fourth quarter valued at $29,000. Hemington Wealth Management raised its position in Valero Energy by 39.9% during the first quarter. Hemington Wealth Management now owns 333 shares of the oil and gas company's stock valued at $43,000 after acquiring an additional 95 shares in the last quarter. Finally, Iron Horse Wealth Management LLC purchased a new stake in Valero Energy during the first quarter worth $44,000. Institutional investors own 78.69% of the company's stock.

Valero Energy Stock Up 0.7%

Shares of VLO traded up $0.9970 during mid-day trading on Tuesday, reaching $137.8070. The company's stock had a trading volume of 1,482,567 shares, compared to its average volume of 3,288,651. The stock has a market cap of $42.81 billion, a PE ratio of 57.42, a price-to-earnings-growth ratio of 3.24 and a beta of 1.03. Valero Energy Corporation has a 12-month low of $99.00 and a 12-month high of $155.12. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.62 and a quick ratio of 1.11. The company's 50 day moving average is $139.99 and its 200 day moving average is $130.77.

Valero Energy (NYSE:VLO - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The oil and gas company reported $2.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.66 by $0.62. The firm had revenue of $29.89 billion for the quarter, compared to analysts' expectations of $27 billion. Valero Energy had a return on equity of 5.76% and a net margin of 0.62%.The firm's revenue for the quarter was down 13.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.71 EPS. Equities analysts anticipate that Valero Energy Corporation will post 7.92 EPS for the current fiscal year.

Valero Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Thursday, July 31st will be paid a dividend of $1.13 per share. This represents a $4.52 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend is Thursday, July 31st. Valero Energy's dividend payout ratio is currently 188.33%.

Wall Street Analyst Weigh In

Several brokerages have commented on VLO. The Goldman Sachs Group raised Valero Energy from a "neutral" rating to a "buy" rating and raised their price objective for the company from $127.00 to $154.00 in a report on Tuesday, May 13th. Raymond James Financial upped their price objective on shares of Valero Energy from $155.00 to $172.00 and gave the stock a "strong-buy" rating in a research report on Tuesday, July 15th. Piper Sandler upped their price target on shares of Valero Energy from $159.00 to $168.00 and gave the stock an "overweight" rating in a research report on Monday, July 28th. Wolfe Research lowered Valero Energy from an "outperform" rating to a "peer perform" rating in a research note on Monday, July 14th. Finally, TD Cowen lowered Valero Energy from a "buy" rating to a "hold" rating and lifted their price target for the stock from $118.00 to $140.00 in a research note on Tuesday, July 22nd. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $154.47.

Valero Energy 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.