Valero Energy Corporation $VLO Stock Position Increased by Saudi Central Bank

Key Points

• Saudi Central Bank increased its Valero Energy position by 85.9% in the second quarter, bringing its holdings to 20,927 shares valued at approximately $5.45 million. Institutional investors collectively own 78.69% of Valero’s stock.
• Valero reported strong quarterly results, with EPS of $12.54 versus the $10.11 consensus estimate and revenue of $44.48 billion, up 48.8% year over year. The company also maintains a $1.20 quarterly dividend, equal to a 1.3% yield.
• Analyst sentiment is broadly positive, with a consensus rating of “Moderate Buy” and an average price target of $296.18, although the stock recently traded near its 12-month high at $370.94.

Saudi Central Bank raised its position in shares of Valero Energy Corporation (NYSE:VLO - Free Report) by 85.9% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 20,927 shares of the oil and gas company's stock after purchasing an additional 9,669 shares during the period. Saudi Central Bank's holdings in Valero Energy were worth $5,450,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. State Street Corp raised its holdings in shares of Valero Energy by 0.9% during the fourth quarter. State Street Corp now owns 18,177,191 shares of the oil and gas company's stock valued at $2,959,065,000 after buying an additional 163,975 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Valero Energy by 0.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 11,950,982 shares of the oil and gas company's stock worth $1,945,500,000 after buying an additional 63,919 shares during the period. Norges Bank bought a new position in Valero Energy in the 4th quarter worth approximately $1,111,542,000. Franklin Resources Inc. increased its position in Valero Energy by 7.5% in the 4th quarter. Franklin Resources Inc. now owns 5,668,210 shares of the oil and gas company's stock valued at $922,728,000 after acquiring an additional 394,693 shares during the period. Finally, Bank of America Corp DE increased its position in Valero Energy by 11.4% in the 1st quarter. Bank of America Corp DE now owns 5,033,310 shares of the oil and gas company's stock valued at $1,243,630,000 after acquiring an additional 516,975 shares during the period. Institutional investors own 78.69% of the company's stock.

Valero Energy Stock Performance

NYSE:VLO opened at $370.94 on Monday. Valero Energy Corporation has a twelve month low of $153.20 and a twelve month high of $375.11. The company has a current ratio of 1.64, a quick ratio of 1.23 and a debt-to-equity ratio of 0.37. The company has a 50-day moving average of $315.25 and a 200-day moving average of $265.31. The firm has a market cap of $106.80 billion, a price-to-earnings ratio of 15.39, a price-to-earnings-growth ratio of 0.42 and a beta of 0.57.

Valero Energy (NYSE:VLO - Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The oil and gas company reported $12.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.11 by $2.43. Valero Energy had a net margin of 5.17% and a return on equity of 26.74%. The company had revenue of $44.48 billion for the quarter, compared to analysts' expectations of $39.47 billion. During the same quarter in the previous year, the company posted $2.28 EPS. The business's revenue was up 48.8% compared to the same quarter last year. Analysts forecast that Valero Energy Corporation will post 41.15 earnings per share for the current fiscal year.

Valero Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 31st. Shareholders of record on Friday, July 31st were given a $1.20 dividend. The ex-dividend date was Friday, July 31st. This represents a $4.80 annualized dividend and a yield of 1.3%. Valero Energy's payout ratio is 19.92%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on VLO shares. Barclays boosted their price target on Valero Energy from $279.00 to $323.00 and gave the stock an "overweight" rating in a research report on Friday, July 31st. UBS Group raised their price target on Valero Energy from $280.00 to $355.00 and gave the company a "buy" rating in a report on Friday, July 31st. Wells Fargo & Company lifted their price objective on shares of Valero Energy from $356.00 to $389.00 and gave the company an "overweight" rating in a research note on Tuesday, September 1st. The Goldman Sachs Group upped their price objective on shares of Valero Energy from $286.00 to $357.00 and gave the stock a "buy" rating in a report on Wednesday, July 22nd. Finally, Weiss Ratings upgraded shares of Valero Energy from a "buy (b-)" rating to a "buy (b)" rating in a research report on Thursday, August 6th. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Valero Energy presently has a consensus rating of "Moderate Buy" and an average price target of $296.18.

Insider Activity

In other Valero Energy news, SVP Eric Fisher sold 7,500 shares of the company's stock in a transaction on 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 transaction, the senior vice president owned 19,742 shares of the company's stock, valued at approximately $5,294,212.14. This represents a 27.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.36% of the company's stock.

Valero Energy Company 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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