Valero Energy Corporation $VLO Shares Purchased by Narwhal Capital Management

Key Points

• Narwhal Capital Management increased its stake in Valero Energy by 21.5% during the second quarter, owning 61,730 shares worth approximately $8.3 million at the end of the reporting period.
• Valero Energy received multiple upgrades from analysts, with target prices raised by UBS Group to $183.00 and by Bank of America to $179.00, reflecting a positive outlook on the company's stock.
• The company announced a quarterly dividend of $1.13 per share, representing an annual yield of 2.8%, although it has a high dividend payout ratio of 188.33%.

Narwhal Capital Management boosted its position in Valero Energy Corporation (NYSE:VLO - Free Report) by 21.5% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 61,730 shares of the oil and gas company's stock after purchasing an additional 10,903 shares during the quarter. Narwhal Capital Management's holdings in Valero Energy were worth $8,298,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Hoey Investments Inc. acquired a new position in Valero Energy in the 2nd quarter valued at $26,000. Wayfinding Financial LLC acquired a new position in Valero Energy in the 1st quarter valued at $26,000. Hazlett Burt & Watson Inc. raised its stake in Valero Energy by 156.6% in the 1st 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 last quarter. Ransom Advisory Ltd acquired a new position in Valero Energy in the 1st quarter valued at $43,000. Finally, Iron Horse Wealth Management LLC acquired a new stake in shares of Valero Energy in the 1st quarter worth $44,000. 78.69% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on VLO shares. UBS Group raised their target price on Valero Energy from $165.00 to $183.00 and gave the stock a "buy" rating in a research note on Monday, September 22nd. Raymond James Financial raised their target price on Valero Energy from $170.00 to $177.00 and gave the stock a "strong-buy" rating in a research note on Tuesday, September 9th. Bank of America raised Valero Energy from a "neutral" rating to a "buy" rating and raised their target price for the stock from $152.00 to $179.00 in a research note on Wednesday, September 3rd. Wolfe Research downgraded Valero Energy from an "outperform" rating to a "peer perform" rating in a research note on Monday, July 14th. Finally, TD Cowen downgraded Valero Energy from a "buy" rating to a "hold" rating and raised their target price for the stock from $118.00 to $140.00 in a research note on Tuesday, July 22nd. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and six have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $168.07.

Valero Energy Stock Performance

NYSE VLO opened at $162.41 on Thursday. The stock has a market cap of $50.45 billion, a PE ratio of 67.67, a P/E/G ratio of 1.74 and a beta of 1.05. The company has a current ratio of 1.62, a quick ratio of 1.11 and a debt-to-equity ratio of 0.38. Valero Energy Corporation has a twelve month low of $99.00 and a twelve month high of $178.43. The stock has a fifty day simple moving average of $152.45 and a 200-day simple moving average of $137.53.

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 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%.The company's revenue was down 13.3% compared to the same quarter last year. During the same period in the prior year, the business posted $2.71 EPS. Equities analysts anticipate that Valero Energy Corporation will post 7.92 earnings per share for the current year.

Valero Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Thursday, July 31st were issued a dividend of $1.13 per share. This represents a $4.52 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date was Thursday, July 31st. Valero Energy's dividend payout ratio (DPR) is 188.33%.

Valero Energy 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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