Valero Energy Corporation $VLO Stock Position Raised by Korea Investment CORP

Key Points

• Korea Investment Corp increased its holdings in Valero Energy by 16% during Q1, accumulating nearly 292,000 shares worth approximately $38.6 million.
• Valero Energy reported a Q2 EPS of $2.28, exceeding estimates, with revenue of $29.89 billion, despite a 13.3% year-over-year decline.
• The company declared a quarterly dividend of $1.13, reflecting a 3.3% yield, with a significantly high payout ratio of 188.33%.

Korea Investment CORP lifted its holdings in Valero Energy Corporation (NYSE:VLO - Free Report) by 16.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 291,974 shares of the oil and gas company's stock after acquiring an additional 40,205 shares during the period. Korea Investment CORP owned approximately 0.09% of Valero Energy worth $38,561,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the business. Wayfinding Financial LLC purchased a new position in shares of Valero Energy in the first quarter valued at $26,000. Hazlett Burt & Watson Inc. boosted its stake in shares of Valero Energy by 156.6% in the first quarter. Hazlett Burt & Watson Inc. now owns 213 shares of the oil and gas company's stock valued at $28,000 after purchasing an additional 130 shares during the period. Ameriflex Group Inc. purchased a new position in shares of Valero Energy in the fourth quarter valued at $29,000. Iron Horse Wealth Management LLC purchased a new position in shares of Valero Energy in the first quarter valued at $44,000. Finally, Hemington Wealth Management boosted its stake in shares of Valero Energy by 39.9% in the first quarter. Hemington Wealth Management now owns 333 shares of the oil and gas company's stock valued at $43,000 after purchasing an additional 95 shares during the period. Institutional investors and hedge funds own 78.69% of the company's stock.

Valero Energy Stock Performance

Shares of NYSE:VLO traded up $4.9090 on Friday, reaching $145.1990. 2,106,347 shares of the company's stock were exchanged, compared to its average volume of 2,432,003. The firm has a market capitalization of $45.11 billion, a price-to-earnings ratio of 60.50, a PEG ratio of 3.28 and a beta of 1.03. Valero Energy Corporation has a fifty-two week low of $99.00 and a fifty-two week high of $155.12. The business's 50-day moving average is $140.59 and its two-hundred day moving average is $130.93. The company has a quick ratio of 1.11, a current ratio of 1.62 and a debt-to-equity ratio of 0.38.

Valero Energy (NYSE:VLO - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The oil and gas company reported $2.28 earnings per share for the quarter, topping analysts' consensus estimates of $1.66 by $0.62. Valero Energy had a net margin of 0.62% and a return on equity of 5.76%. The business had revenue of $29.89 billion for the quarter, compared to analysts' expectations of $27 billion. During the same quarter last year, the company earned $2.71 EPS. The company's revenue for the quarter was down 13.3% compared to the same quarter last year. As a group, equities research analysts forecast that Valero Energy Corporation will post 7.92 EPS for the current year.

Valero Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Thursday, July 31st will be given a dividend of $1.13 per share. The ex-dividend date is Thursday, July 31st. This represents a $4.52 annualized dividend and a dividend yield of 3.1%. Valero Energy's dividend payout ratio (DPR) is 188.33%.

Wall Street Analysts Forecast Growth

VLO has been the subject of several analyst reports. Raymond James Financial upped their target price on shares of Valero Energy from $155.00 to $172.00 and gave the company a "strong-buy" rating in a research note on Tuesday, July 15th. Wolfe Research downgraded shares of Valero Energy from an "outperform" rating to a "peer perform" rating in a research note on Monday, July 14th. The Goldman Sachs Group upgraded shares of Valero Energy from a "neutral" rating to a "buy" rating and increased their price objective for the company from $127.00 to $154.00 in a research note on Tuesday, May 13th. Piper Sandler increased their price objective on shares of Valero Energy from $159.00 to $168.00 and gave the company an "overweight" rating in a research note on Monday, July 28th. Finally, Morgan Stanley increased their price objective on shares of Valero Energy from $145.00 to $160.00 and gave the company an "overweight" rating in a research note on Wednesday, July 16th. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, Valero Energy presently has an average rating of "Moderate Buy" and an average price target of $154.47.

About Valero Energy

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.