Valero Energy Corporation $VLO Shares Bought by UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC

Key Points

• UBS Asset Management increased its stake in Valero Energy Corporation by 2.1%, now holding approximately 0.68% of the company, valued at around $282.5 million.
• Valero reported $2.28 earnings per share in its latest quarterly results, exceeding analysts' expectations of $1.66, while its quarterly revenue saw a decline of 13.3% year-over-year.
• The company declared a quarterly dividend of $1.13 per share, reflecting an annualized yield of 2.9%, despite facing a high dividend payout ratio of 188.33%.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Valero Energy Corporation (NYSE:VLO - Free Report) by 2.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,139,380 shares of the oil and gas company's stock after acquiring an additional 43,786 shares during the quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned about 0.68% of Valero Energy worth $282,548,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Kestra Private Wealth Services LLC increased its stake in shares of Valero Energy by 18.5% during the 1st quarter. Kestra Private Wealth Services LLC now owns 22,402 shares of the oil and gas company's stock valued at $2,959,000 after acquiring an additional 3,503 shares during the last quarter. Hancock Whitney Corp increased its stake in shares of Valero Energy by 8.9% during the 1st quarter. Hancock Whitney Corp now owns 46,474 shares of the oil and gas company's stock valued at $6,138,000 after acquiring an additional 3,790 shares during the last quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund acquired a new position in shares of Valero Energy during the 1st quarter valued at about $766,000. Sendero Wealth Management LLC increased its stake in shares of Valero Energy by 11.0% during the 1st quarter. Sendero Wealth Management LLC now owns 20,198 shares of the oil and gas company's stock valued at $2,668,000 after acquiring an additional 2,000 shares during the last quarter. Finally, FORA Capital LLC acquired a new position in shares of Valero Energy during the 1st quarter valued at about $866,000. Institutional investors and hedge funds own 78.69% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on VLO shares. Piper Sandler upped 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. Wells Fargo & Company increased their target price on shares of Valero Energy from $151.00 to $168.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 9th. Citigroup downgraded shares of Valero Energy from a "buy" rating to a "neutral" rating and increased their target price for the stock from $134.00 to $150.00 in a research report on Wednesday, July 16th. TD Cowen downgraded shares of Valero Energy from a "buy" rating to a "hold" rating and increased their target price for the stock from $118.00 to $140.00 in a research report on Tuesday, July 22nd. Finally, Wolfe Research downgraded shares of Valero Energy from an "outperform" rating to a "peer perform" rating in a research report on Monday, July 14th. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, Valero Energy currently has an average rating of "Moderate Buy" and a consensus target price of $156.73.

Valero Energy Stock Down 2.3%

NYSE VLO opened at $158.19 on Thursday. The stock has a market cap of $49.14 billion, a PE ratio of 65.91, a P/E/G ratio of 1.90 and a beta of 1.10. Valero Energy Corporation has a fifty-two week low of $99.00 and a fifty-two week high of $163.02. The business has a 50 day moving average price of $144.69 and a two-hundred day moving average price of $132.56. 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 results 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. The firm had revenue of $29.89 billion during 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%.Valero Energy's quarterly revenue was down 13.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.71 EPS. As a group, sell-side analysts predict that Valero Energy Corporation will post 7.92 EPS for the current fiscal year.

Valero Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Thursday, July 31st were issued a $1.13 dividend. This represents a $4.52 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date was Thursday, July 31st. Valero Energy's dividend payout ratio is currently 188.33%.

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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