Voya Investment Management LLC Grows Stock Position in Valero Energy Corporation $VLO

Key Points

• Voya Investment Management LLC increased its stake in Valero Energy Corporation by 18.9%, holding approximately 207,823 shares worth $27.4 million as of the first quarter.
• Several major institutional investors, including Vanguard Group and Price T Rowe Associates, also raised their stakes in Valero Energy significantly during the same period.
• Valero Energy reported a quarterly earnings per share of $2.28, surpassing analysts' expectations of $1.66, while revenue for the quarter was $29.89 billion, down 13.3% year-over-year.

Voya Investment Management LLC boosted its stake in shares of Valero Energy Corporation (NYSE:VLO - Free Report) by 18.9% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 207,823 shares of the oil and gas company's stock after buying an additional 33,003 shares during the period. Voya Investment Management LLC owned approximately 0.07% of Valero Energy worth $27,447,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of VLO. Vanguard Group Inc. increased its stake in Valero Energy by 12.0% in the first quarter. Vanguard Group Inc. now owns 38,881,222 shares of the oil and gas company's stock worth $5,135,043,000 after purchasing an additional 4,155,522 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Valero Energy by 6.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 11,437,765 shares of the oil and gas company's stock worth $1,510,586,000 after purchasing an additional 736,533 shares during the period. Price T Rowe Associates Inc. MD increased its stake in Valero Energy by 276.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 10,795,436 shares of the oil and gas company's stock worth $1,425,754,000 after purchasing an additional 7,931,018 shares during the period. Invesco Ltd. increased its stake in Valero Energy by 34.1% in the first quarter. Invesco Ltd. now owns 4,905,145 shares of the oil and gas company's stock worth $647,823,000 after purchasing an additional 1,247,196 shares during the period. Finally, Nuveen LLC purchased a new stake in Valero Energy in the first quarter worth $529,864,000. Hedge funds and other institutional investors own 78.69% of the company's stock.

Valero Energy Price Performance

Shares of VLO stock opened at $156.78 on Monday. Valero Energy Corporation has a 1-year low of $99.00 and a 1-year high of $163.02. The stock's 50-day moving average is $145.24 and its 200 day moving average is $132.92. The company has a market cap of $48.70 billion, a P/E ratio of 65.33, a PEG ratio of 1.78 and a beta of 1.10. 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 (NYSE:VLO - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The oil and gas company reported $2.28 earnings per share for the quarter, beating analysts' consensus estimates of $1.66 by $0.62. Valero Energy had a return on equity of 5.76% and a net margin of 0.62%.The company had revenue of $29.89 billion for the quarter, compared to the consensus estimate of $27 billion. During the same quarter last year, the company earned $2.71 earnings per share. The firm's revenue for the quarter was down 13.3% compared to the same quarter last year. Research analysts predict that Valero Energy Corporation will post 7.92 earnings per share for the current fiscal year.

Valero Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Thursday, July 31st were given a dividend of $1.13 per share. The ex-dividend date of this dividend was Thursday, July 31st. This represents a $4.52 dividend on an annualized basis and a yield of 2.9%. Valero Energy's dividend payout ratio (DPR) is presently 188.33%.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Piper Sandler increased their target price on Valero Energy from $171.00 to $200.00 and gave the stock an "overweight" rating in a research note on Thursday. Raymond James Financial increased 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. UBS Group increased their price target on Valero Energy from $164.00 to $165.00 and gave the stock a "buy" rating in a research report on Friday, July 25th. Morgan Stanley increased their price target on Valero Energy from $145.00 to $160.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 16th. Finally, Wolfe Research downgraded Valero Energy from an "outperform" rating to a "peer perform" rating in a research report on Monday, July 14th. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, Valero Energy currently has an average rating of "Moderate Buy" and a consensus price target of $158.87.

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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