Valero Energy Corporation $VLO Shares Purchased by KBC Group NV

Key Points

• KBC Group NV sharply increased its stake in Valero Energy, boosting holdings by 169.6% in the first quarter to 195,877 shares valued at about $48.4 million.
• Valero reported stronger-than-expected quarterly results, with EPS of $4.22 versus the $3.16 consensus and revenue of $32.38 billion, up 7% year over year.
• The company also raised its dividend to $1.20 per share quarterly, or $4.80 annualized, which implies a 1.5% yield; analysts currently rate the stock a “Moderate Buy” with an average target price of $253.06.

KBC Group NV lifted its stake in shares of Valero Energy Corporation (NYSE:VLO - Free Report) by 169.6% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 195,877 shares of the oil and gas company's stock after acquiring an additional 123,226 shares during the period. KBC Group NV owned 0.07% of Valero Energy worth $48,397,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in VLO. Swiss National Bank lifted its stake in shares of Valero Energy by 5.1% in the 1st quarter. Swiss National Bank now owns 895,100 shares of the oil and gas company's stock valued at $221,161,000 after purchasing an additional 43,800 shares during the last quarter. AIA Group Ltd increased its holdings in Valero Energy by 18.5% in the 1st quarter. AIA Group Ltd now owns 89,264 shares of the oil and gas company's stock valued at $22,055,000 after purchasing an additional 13,967 shares during the last quarter. Mediolanum International Funds Ltd raised its position in Valero Energy by 40.8% in the first quarter. Mediolanum International Funds Ltd now owns 29,220 shares of the oil and gas company's stock valued at $7,313,000 after purchasing an additional 8,461 shares during the period. Ascent Wealth Partners LLC acquired a new position in Valero Energy during the first quarter worth $8,111,000. Finally, Jennison Associates LLC lifted its stake in Valero Energy by 377.1% during the first quarter. Jennison Associates LLC now owns 413,437 shares of the oil and gas company's stock worth $102,152,000 after purchasing an additional 326,777 shares in the last quarter. 78.69% of the stock is currently owned by institutional investors and hedge funds.

Valero Energy Stock Performance

NYSE:VLO opened at $313.68 on Tuesday. The company has a fifty day simple moving average of $260.29 and a two-hundred day simple moving average of $230.82. The company has a market cap of $93.14 billion, a price-to-earnings ratio of 22.80, a price-to-earnings-growth ratio of 0.37 and a beta of 0.55. The company has a quick ratio of 1.15, a current ratio of 1.58 and a debt-to-equity ratio of 0.39. Valero Energy Corporation has a 52 week low of $130.78 and a 52 week high of $316.57.

Valero Energy (NYSE:VLO - Get Free Report) last announced its quarterly earnings data on Thursday, April 30th. The oil and gas company reported $4.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.16 by $1.06. The business had revenue of $32.38 billion for the quarter, compared to analysts' expectations of $31.38 billion. Valero Energy had a return on equity of 15.94% and a net margin of 3.37%.The company's revenue for the quarter was up 7.0% compared to the same quarter last year. During the same period last year, the firm earned $0.89 earnings per share. As a group, equities analysts anticipate that Valero Energy Corporation will post 32.61 earnings per share for the current fiscal year.

Valero Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, August 31st. Shareholders of record on Friday, July 31st will be issued a dividend of $1.20 per share. The ex-dividend date is Friday, July 31st. This represents a $4.80 annualized dividend and a yield of 1.5%. Valero Energy's dividend payout ratio is 34.88%.

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 stock was sold at an average price of $268.17, for a total value of $2,011,275.00. Following the sale, the senior vice president owned 19,742 shares of the company's stock, valued at $5,294,212.14. This trade represents a 27.53% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.36% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

VLO has been the subject of a number of research reports. Piper Sandler lifted their price objective on Valero Energy from $236.00 to $263.00 and gave the company an "overweight" rating in a research note on Wednesday, April 8th. BMO Capital Markets increased their target price on Valero Energy from $230.00 to $270.00 and gave the stock an "outperform" rating in a research note on Monday, April 6th. Wall Street Zen upgraded Valero Energy from a "buy" rating to a "strong-buy" rating in a report on Saturday, April 4th. TD Cowen lifted their target price on Valero Energy from $276.00 to $292.00 and gave the company a "hold" rating in a research report on Monday, June 29th. Finally, Barclays boosted their price target on shares of Valero Energy from $261.00 to $279.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 1st. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, nine have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $253.06.

Valero Energy Profile

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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