Valero Energy Corporation $VLO Shares Acquired by EP Wealth Advisors LLC

Key Points

• EP Wealth Advisors increased its Valero Energy position by 2.3% in the second quarter, bringing its holdings to 229,679 shares valued at approximately $59.8 million. Institutional investors collectively own 78.69% of Valero’s stock.
• Valero reported quarterly EPS of $12.54, exceeding estimates of $10.11, while revenue rose 48.8% year over year to $44.48 billion. The stock opened at $349.27, near its 52-week high of $352.70.
• Valero declared a quarterly dividend of $1.20 per share, equivalent to $4.80 annually and a 1.4% yield. Analysts maintain a “Moderate Buy” consensus, with an average price target of $288.

EP Wealth Advisors LLC increased its position in shares of Valero Energy Corporation (NYSE:VLO - Free Report) by 2.3% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 229,679 shares of the oil and gas company's stock after purchasing an additional 5,108 shares during the quarter. EP Wealth Advisors LLC owned approximately 0.08% of Valero Energy worth $59,818,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of VLO. State Street Corp lifted its position in Valero Energy by 0.9% during the fourth quarter. State Street Corp now owns 18,177,191 shares of the oil and gas company's stock worth $2,959,065,000 after buying an additional 163,975 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Valero Energy by 0.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 11,950,982 shares of the oil and gas company's stock worth $1,945,500,000 after acquiring an additional 63,919 shares during the period. Norges Bank purchased a new position in shares of Valero Energy during the 4th quarter worth $1,111,542,000. Franklin Resources Inc. increased its holdings in shares of Valero Energy by 7.5% during the 4th quarter. Franklin Resources Inc. now owns 5,668,210 shares of the oil and gas company's stock worth $922,728,000 after buying an additional 394,693 shares during the last quarter. Finally, Bank of America Corp DE increased its stake in Valero Energy by 11.4% during the first quarter. Bank of America Corp DE now owns 5,033,310 shares of the oil and gas company's stock worth $1,243,630,000 after acquiring an additional 516,975 shares during the last quarter. Hedge funds and other institutional investors own 78.69% of the company's stock.

Valero Energy Stock Performance

NYSE:VLO opened at $349.27 on Friday. Valero Energy Corporation has a 1-year low of $140.13 and a 1-year high of $352.70. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.64 and a quick ratio of 1.23. The firm's fifty day moving average price is $292.93 and its 200 day moving average price is $253.69. The firm has a market cap of $100.56 billion, a price-to-earnings ratio of 14.49, a price-to-earnings-growth ratio of 0.23 and a beta of 0.55.

Valero Energy (NYSE:VLO - Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The oil and gas company reported $12.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.11 by $2.43. The firm had revenue of $44.48 billion during the quarter, compared to analysts' expectations of $39.47 billion. Valero Energy had a net margin of 5.17% and a return on equity of 26.74%. The firm's revenue for the quarter was up 48.8% on a year-over-year basis. During the same period in the prior year, the company posted $2.28 earnings per share. On average, sell-side analysts expect that Valero Energy Corporation will post 40.62 EPS for the current year.

Valero Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, August 31st. Stockholders of record on Friday, July 31st will be paid a dividend of $1.20 per share. The ex-dividend date of this dividend is Friday, July 31st. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.4%. Valero Energy's dividend payout ratio is 19.92%.

Insider Transactions at Valero Energy

In other Valero Energy news, SVP Eric A. Fisher sold 7,500 shares of the stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $268.17, for a total value of $2,011,275.00. Following the completion of the transaction, the senior vice president directly owned 19,742 shares of the company's stock, valued at approximately $5,294,212.14. This trade represents a 27.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.36% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on VLO shares. Raymond James Financial boosted their price target on shares of Valero Energy from $300.00 to $340.00 and gave the company a "strong-buy" rating in a research note on Monday, July 13th. UBS Group lifted their price target on shares of Valero Energy from $280.00 to $355.00 and gave the stock a "buy" rating in a research note on Friday, July 31st. Citigroup upped their price objective on Valero Energy from $259.00 to $302.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 14th. Piper Sandler restated an "overweight" rating and issued a $329.00 target price on shares of Valero Energy in a report on Thursday, July 23rd. Finally, Zacks Research raised Valero Energy from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 4th. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $288.00.

About Valero Energy

Valero Energy Corporation is a San Antonio, Texas–based integrated downstream energy company that manufactures and markets transportation fuels, petrochemical feedstocks and other industrial products. The company's operations focus on refining crude oil into finished fuels such as gasoline, diesel and jet fuel, as well as producing asphalt and other refined product streams for commercial and industrial customers.

In addition to refining, Valero has significant operations in renewable fuels, including the production of ethanol and other biofuels, and it manages an extensive logistics network of pipelines, terminals, rail and marine assets to move feedstocks and finished products.

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