Price T Rowe Associates Inc. MD Buys 7,931,018 Shares of Valero Energy Corporation $VLO

Key Points

• Price T Rowe Associates Inc. MD increased its stake in Valero Energy Corporation by 276.9%, owning approximately 10.8 million shares valued at $1.43 billion after buying 7.9 million additional shares in the first quarter.
• A significant majority of Valero Energy's stock, 78.69%, is currently held by institutional investors and hedge funds, indicating strong institutional interest in the company.
• The company's recent earnings report showed a net profit of $2.28 per share, exceeding estimates, along with a revenue of $29.89 billion for the quarter.

Price T Rowe Associates Inc. MD raised its position in shares of Valero Energy Corporation (NYSE:VLO - Free Report) by 276.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,795,436 shares of the oil and gas company's stock after purchasing an additional 7,931,018 shares during the quarter. Price T Rowe Associates Inc. MD owned 3.45% of Valero Energy worth $1,425,754,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Citizens Financial Group Inc. RI raised its holdings in Valero Energy by 2.2% during the first quarter. Citizens Financial Group Inc. RI now owns 3,798 shares of the oil and gas company's stock valued at $502,000 after acquiring an additional 82 shares during the period. Proficio Capital Partners LLC raised its position in shares of Valero Energy by 4.6% during the first quarter. Proficio Capital Partners LLC now owns 2,012 shares of the oil and gas company's stock valued at $266,000 after buying an additional 89 shares during the last quarter. Horizon Investments LLC grew its stake in Valero Energy by 1.8% during the first quarter. Horizon Investments LLC now owns 5,456 shares of the oil and gas company's stock valued at $721,000 after acquiring an additional 94 shares in the last quarter. Hemington Wealth Management increased its holdings in Valero Energy by 39.9% in the 1st quarter. Hemington Wealth Management now owns 333 shares of the oil and gas company's stock valued at $43,000 after acquiring an additional 95 shares during the last quarter. Finally, Field & Main Bank increased its holdings in Valero Energy by 1.2% in the 1st quarter. Field & Main Bank now owns 7,982 shares of the oil and gas company's stock valued at $1,054,000 after acquiring an additional 97 shares during the last quarter. 78.69% of the stock is currently owned by institutional investors.

Valero Energy Trading Up 3.5%

Shares of Valero Energy stock traded up $4.9090 during trading on Friday, hitting $145.1990. The stock had a trading volume of 2,106,347 shares, compared to its average volume of 2,397,712. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.62 and a quick ratio of 1.11. Valero Energy Corporation has a 12 month low of $99.00 and a 12 month high of $155.12. The stock has a market cap of $45.11 billion, a PE ratio of 60.50, a PEG ratio of 3.39 and a beta of 1.03. The firm's fifty day simple moving average is $140.59 and its 200-day simple moving average is $130.84.

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

Valero Energy Dividend Announcement

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

Wall Street Analysts Forecast Growth

VLO has been the subject of a number of research reports. The Goldman Sachs Group raised Valero Energy from a "neutral" rating to a "buy" rating and increased their price target for the company from $127.00 to $154.00 in a research note on Tuesday, May 13th. Citigroup downgraded Valero Energy from a "buy" rating to a "neutral" rating and increased their target price for the company from $134.00 to $150.00 in a research report on Wednesday, July 16th. Evercore ISI initiated coverage on shares of Valero Energy in a research report on Wednesday, June 18th. They issued an "in-line" rating and a $135.00 price target on the stock. Mizuho increased their price objective on shares of Valero Energy from $158.00 to $166.00 and gave the company an "outperform" rating in a research report on Tuesday, May 13th. Finally, TD Cowen cut shares of Valero Energy from a "buy" rating to a "hold" rating and lifted their price objective for the stock from $118.00 to $140.00 in a research note on Tuesday, July 22nd. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $154.47.

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.