Valero Energy Corporation $VLO Shares Purchased by Ethic Inc.

Key Points

• Ethic Inc. increased its stake in Valero Energy Corporation by 43.6%, now owning 10,373 shares worth approximately $1.39 million.
• Valero reported $2.28 EPS for the last quarter, significantly exceeding the expected $1.66 EPS, with revenues of $29.89 billion.
• The company is set to pay a quarterly dividend of $1.13 on September 2, representing an annualized yield of 3.3%.

Ethic Inc. boosted its position in shares of Valero Energy Corporation (NYSE:VLO - Free Report) by 43.6% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 10,373 shares of the oil and gas company's stock after acquiring an additional 3,150 shares during the quarter. Ethic Inc.'s holdings in Valero Energy were worth $1,387,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in VLO. Wayfinding Financial LLC acquired a new position in Valero Energy in the 1st quarter worth about $26,000. Hazlett Burt & Watson Inc. grew its position 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 in the last quarter. Ameriflex Group Inc. purchased a new stake in shares of Valero Energy in the fourth quarter valued at approximately $29,000. Hemington Wealth Management grew its position 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 in the last quarter. Finally, Iron Horse Wealth Management LLC purchased a new position in Valero Energy in the first quarter worth approximately $44,000. Institutional investors and hedge funds own 78.69% of the company's stock.

Valero Energy Stock Performance

NYSE VLO opened at $136.96 on Tuesday. The company has a current ratio of 1.62, a quick ratio of 1.11 and a debt-to-equity ratio of 0.38. The business's 50 day moving average is $139.99 and its two-hundred day moving average is $130.77. Valero Energy Corporation has a 12-month low of $99.00 and a 12-month high of $155.12. The stock has a market capitalization of $42.55 billion, a price-to-earnings ratio of 57.07, a PEG ratio of 3.24 and a beta of 1.03.

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 business 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 company's revenue was down 13.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.71 EPS. Research analysts expect that Valero Energy Corporation will post 7.92 EPS for the current year.

Valero Energy Announces Dividend

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

Analyst Ratings Changes

Several research analysts have recently commented on VLO shares. Barclays raised their price target on Valero Energy from $140.00 to $141.00 and gave the stock an "overweight" rating in a research report on Monday, May 12th. Citigroup cut Valero Energy from a "buy" rating to a "neutral" rating and raised their price target for the company from $134.00 to $150.00 in a research note on Wednesday, July 16th. JPMorgan Chase & Co. reduced their target price on Valero Energy from $152.00 to $147.00 and set an "overweight" rating for the company in a report on Monday, April 28th. Piper Sandler boosted their target price on Valero Energy from $159.00 to $168.00 and gave the company an "overweight" rating in a report on Monday, July 28th. Finally, The Goldman Sachs Group raised Valero Energy from a "neutral" rating to a "buy" rating and boosted their target price for the company from $127.00 to $154.00 in a report on Tuesday, May 13th. Five investment analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, Valero Energy currently has a consensus rating of "Moderate Buy" and a consensus 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.

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