Valero Energy Corporation $VLO Stock Position Increased by First Citizens Bank & Trust Co.

Key Points

• First Citizens Bank & Trust Co. increased its stake in Valero Energy by 17.1%, owning a total of 11,876 shares valued at approximately $1.6 million at the end of the second quarter.
• Several hedge funds have also made adjustments to their positions in Valero Energy, with 78.69% of the company's stock now held by institutional investors.
• Valero Energy reported a better-than-expected earnings of $3.66 per share for the last quarter, surpassing estimates, with revenues reaching $32.17 billion.

First Citizens Bank & Trust Co. boosted its position in Valero Energy Corporation (NYSE:VLO - Free Report) by 17.1% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 11,876 shares of the oil and gas company's stock after purchasing an additional 1,734 shares during the quarter. First Citizens Bank & Trust Co.'s holdings in Valero Energy were worth $1,596,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Broadway Wealth Solutions Inc. lifted its position in Valero Energy by 3.8% in the 2nd quarter. Broadway Wealth Solutions Inc. now owns 1,864 shares of the oil and gas company's stock valued at $251,000 after purchasing an additional 69 shares during the last quarter. Park Place Capital Corp lifted its position in Valero Energy by 21.8% in the 2nd quarter. Park Place Capital Corp now owns 419 shares of the oil and gas company's stock valued at $58,000 after purchasing an additional 75 shares during the last quarter. Pinnacle Wealth Planning Services Inc. lifted its position in Valero Energy by 1.4% in the 1st quarter. Pinnacle Wealth Planning Services Inc. now owns 5,541 shares of the oil and gas company's stock valued at $732,000 after purchasing an additional 78 shares during the last quarter. Summit Financial LLC lifted its position in Valero Energy by 4.6% in the 1st quarter. Summit Financial LLC now owns 1,812 shares of the oil and gas company's stock valued at $239,000 after purchasing an additional 79 shares during the last quarter. Finally, Keeley Teton Advisors LLC raised its position in shares of Valero Energy by 1.1% during the 1st quarter. Keeley Teton Advisors LLC now owns 7,764 shares of the oil and gas company's stock worth $1,025,000 after buying an additional 81 shares in the last quarter. 78.69% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on VLO shares. Citigroup cut shares of Valero Energy from a "buy" rating to a "neutral" rating and increased their price objective for the company from $134.00 to $150.00 in a report on Wednesday, July 16th. TD Cowen cut shares of Valero Energy from a "buy" rating to a "hold" rating and increased their price objective for the company from $118.00 to $140.00 in a report on Tuesday, July 22nd. Evercore ISI increased their price objective on shares of Valero Energy from $135.00 to $185.00 and gave the company an "in-line" rating in a report on Friday, September 19th. Wolfe Research cut shares of Valero Energy from an "outperform" rating to a "peer perform" rating in a report on Monday, July 14th. Finally, UBS Group increased their price objective on shares of Valero Energy from $165.00 to $183.00 and gave the company a "buy" rating in a report on Monday, September 22nd. Three research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $173.27.

Valero Energy Stock Performance

Shares of VLO opened at $173.21 on Friday. The firm's 50 day moving average is $158.31 and its 200-day moving average is $140.18. The stock has a market capitalization of $53.81 billion, a P/E ratio of 72.17, a P/E/G ratio of 1.82 and a beta of 1.05. 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 $178.43.

Valero Energy (NYSE:VLO - Get Free Report) last released its earnings results on Thursday, October 23rd. The oil and gas company reported $3.66 earnings per share for the quarter, topping the consensus estimate of $3.15 by $0.51. The business had revenue of $32.17 billion for the quarter, compared to the consensus estimate of $28.80 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 2.2% compared to the same quarter last year. During the same period last year, the firm posted $1.14 earnings per share. Equities research analysts anticipate that Valero Energy Corporation will post 7.92 EPS for the current fiscal year.

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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