Valero Energy Corporation $VLO Shares Acquired by TD Asset Management Inc

Key Points

• TD Asset Management increased its Valero Energy stake by 27.3% in the second quarter, bringing its holdings to 195,842 shares worth approximately $51 million. Institutional investors collectively own 78.69% of the company.
• Valero reported strong quarterly results, with EPS of $12.54 versus the $10.11 analyst estimate and revenue of $44.48 billion, up 48.8% year over year.
• The company declared a quarterly dividend of $1.20 per share, equivalent to an annualized $4.80 payout and a 1.4% yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $288.

TD Asset Management Inc increased its stake in shares of Valero Energy Corporation (NYSE:VLO - Free Report) by 27.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 195,842 shares of the oil and gas company's stock after buying an additional 42,024 shares during the quarter. TD Asset Management Inc owned about 0.07% of Valero Energy worth $51,005,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in Valero Energy during the 4th quarter worth approximately $1,111,542,000. Arrowstreet Capital Limited Partnership acquired a new position in shares of Valero Energy in the third quarter valued at approximately $275,239,000. Pacer Advisors Inc. raised its stake in shares of Valero Energy by 2,635.7% during the fourth quarter. Pacer Advisors Inc. now owns 950,527 shares of the oil and gas company's stock worth $154,736,000 after purchasing an additional 915,782 shares during the last quarter. Amundi lifted its holdings in shares of Valero Energy by 45.3% during the first quarter. Amundi now owns 2,584,976 shares of the oil and gas company's stock worth $638,695,000 after purchasing an additional 806,018 shares during the period. Finally, Victory Capital Management Inc. increased its stake in Valero Energy by 49.3% in the 4th quarter. Victory Capital Management Inc. now owns 1,696,811 shares of the oil and gas company's stock valued at $276,224,000 after buying an additional 560,116 shares during the period. 78.69% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

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

Valero Energy Price Performance

Shares of VLO stock opened at $341.36 on Friday. The firm has a market cap of $98.29 billion, a P/E ratio of 14.16, a P/E/G ratio of 0.23 and a beta of 0.55. Valero Energy Corporation has a 1-year low of $135.01 and a 1-year high of $346.09. The firm has a fifty day moving average of $283.92 and a two-hundred day moving average of $247.97. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.64 and a quick ratio of 1.23.

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 analysts' consensus estimates of $10.11 by $2.43. The company had revenue of $44.48 billion for the quarter, compared to the consensus estimate of $39.47 billion. Valero Energy had a net margin of 5.17% and a return on equity of 26.74%. The company's revenue for the quarter was up 48.8% on a year-over-year basis. During the same period last year, the firm posted $2.28 EPS. As a group, research analysts anticipate that Valero Energy Corporation will post 40.62 earnings per share for the current fiscal year.

Valero Energy Announces Dividend

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

Analyst Ratings Changes

A number of equities analysts have commented on VLO shares. Scotiabank upped their price objective on shares of Valero Energy from $178.00 to $226.00 and gave the stock a "sector outperform" rating in a research report on Wednesday, April 22nd. Raymond James Financial raised their price target on Valero Energy from $300.00 to $340.00 and gave the company a "strong-buy" rating in a research report on Monday, July 13th. Jefferies Financial Group set a $350.00 target price on Valero Energy in a research note on Monday, August 3rd. Wells Fargo & Company raised their price target on shares of Valero Energy from $292.00 to $356.00 and gave the stock an "overweight" rating in a research note on Friday, July 31st. Finally, Piper Sandler reiterated an "overweight" rating and issued a $329.00 target price on shares of Valero Energy in a research note on Thursday, July 23rd. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus 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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