Valero Energy Corporation $VLO Stock Holdings Boosted by Mirae Asset Global Investments Co. Ltd.

Key Points

• Mirae Asset Global Investments Co. Ltd. has increased its stake in Valero Energy by 9.3%, acquiring an additional 28,356 shares, bringing its total ownership to approximately 334,029 shares valued at $44.9 million.
• Valero Energy reported a quarterly earnings per share (EPS) of $2.28, exceeding the consensus estimate of $1.66, but showed a 13.3% decline in revenue compared to the same quarter last year.
• The company declared a quarterly dividend of $1.13 per share, resulting in an annualized dividend of $4.52 and a dividend yield of 2.7%.

Mirae Asset Global Investments Co. Ltd. raised its position in shares of Valero Energy Corporation (NYSE:VLO - Free Report) by 9.3% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 334,029 shares of the oil and gas company's stock after purchasing an additional 28,356 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned about 0.11% of Valero Energy worth $44,900,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in VLO. Price T Rowe Associates Inc. MD boosted its stake in Valero Energy by 276.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 10,795,436 shares of the oil and gas company's stock valued at $1,425,754,000 after purchasing an additional 7,931,018 shares in the last quarter. Vanguard Group Inc. boosted its stake in Valero Energy by 12.0% during the 1st quarter. Vanguard Group Inc. now owns 38,881,222 shares of the oil and gas company's stock valued at $5,135,043,000 after purchasing an additional 4,155,522 shares in the last quarter. Nuveen LLC bought a new position in Valero Energy during the 1st quarter valued at $529,864,000. Invesco Ltd. boosted its stake in Valero Energy by 34.1% during the 1st quarter. Invesco Ltd. now owns 4,905,145 shares of the oil and gas company's stock valued at $647,823,000 after purchasing an additional 1,247,196 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Valero Energy by 6.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 11,437,765 shares of the oil and gas company's stock valued at $1,510,586,000 after purchasing an additional 736,533 shares in the last quarter. 78.69% of the stock is owned by institutional investors.

Valero Energy Stock Performance

Shares of VLO stock opened at $164.57 on Friday. Valero Energy Corporation has a 1-year low of $99.00 and a 1-year high of $178.43. 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 company has a market capitalization of $51.12 billion, a price-to-earnings ratio of 68.57, a P/E/G ratio of 1.77 and a beta of 1.05. The stock's fifty day simple moving average is $150.88 and its 200-day simple moving average is $136.73.

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. Valero Energy had a return on equity of 5.76% and a net margin of 0.62%.The business had revenue of $29.89 billion during the quarter, compared to analyst estimates of $27 billion. During the same period last year, the company earned $2.71 earnings per share. Valero Energy's quarterly revenue was down 13.3% compared to the same quarter last year. On average, sell-side analysts predict that Valero Energy Corporation will post 7.92 earnings per share for the current fiscal year.

Valero Energy Dividend Announcement

The company also recently disclosed 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 annualized dividend and a dividend yield of 2.7%. The ex-dividend date was Thursday, July 31st. Valero Energy's dividend payout ratio (DPR) is currently 188.33%.

Wall Street Analysts Forecast Growth

VLO has been the subject of a number of recent research reports. Raymond James Financial increased their price objective on Valero Energy from $170.00 to $177.00 and gave the company a "strong-buy" rating in a research report on Tuesday, September 9th. Mizuho increased their price objective on Valero Energy from $166.00 to $190.00 and gave the company an "outperform" rating in a research report on Monday, September 15th. Bank of America upgraded Valero Energy from a "neutral" rating to a "buy" rating and increased their price objective for the company from $152.00 to $179.00 in a research report on Wednesday, September 3rd. Wolfe Research downgraded Valero Energy from an "outperform" rating to a "peer perform" rating in a research report on Monday, July 14th. Finally, Evercore ISI increased their price objective on Valero Energy from $135.00 to $185.00 and gave the company an "in-line" rating in a research report on Friday, September 19th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $165.00.

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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