Washington Trust Bank Purchases 1,821 Shares of Valero Energy Corporation (NYSE:VLO)

Washington Trust Bank increased its position in Valero Energy Corporation (NYSE:VLO - Free Report) by 3.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 50,854 shares of the oil and gas company's stock after purchasing an additional 1,821 shares during the period. Washington Trust Bank's holdings in Valero Energy were worth $6,716,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Wayfinding Financial LLC bought a new position in Valero Energy during the 1st quarter valued at about $26,000. Ameriflex Group Inc. bought a new position in Valero Energy in the 4th quarter worth $29,000. OFI Invest Asset Management purchased a new stake in shares of Valero Energy during the fourth quarter worth about $37,000. Millstone Evans Group LLC bought a new stake in shares of Valero Energy during the fourth quarter valued at approximately $44,000. Finally, SBI Securities Co. Ltd. bought a new stake in Valero Energy in the 4th quarter valued at $52,000. 78.69% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on VLO. TD Cowen cut their price objective on Valero Energy from $121.00 to $118.00 and set a "buy" rating for the company in a research report on Friday, April 25th. The Goldman Sachs Group raised shares of Valero Energy from a "neutral" rating to a "buy" rating and raised their target price for the company from $127.00 to $154.00 in a report on Tuesday, May 13th. Wells Fargo & Company increased their price target on shares of Valero Energy from $151.00 to $168.00 and gave the company an "overweight" rating in a report on Wednesday. Mizuho boosted their price objective on Valero Energy from $158.00 to $166.00 and gave the stock an "outperform" rating in a research note on Tuesday, May 13th. Finally, Piper Sandler raised their price objective on Valero Energy from $142.00 to $160.00 and gave the company an "overweight" rating in a research note on Thursday. Three investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $153.56.

Valero Energy Trading Up 3.9%

Shares of NYSE VLO traded up $5.74 during trading hours on Thursday, reaching $154.81. The stock had a trading volume of 3,762,279 shares, compared to its average volume of 3,079,938. The business's fifty day moving average price is $132.49 and its two-hundred day moving average price is $128.68. The firm has a market cap of $48.49 billion, a price-to-earnings ratio of 54.70, a P/E/G ratio of 2.58 and a beta of 1.00. Valero Energy Corporation has a 52-week low of $99.00 and a 52-week high of $167.78. The company has a current ratio of 1.56, a quick ratio of 1.09 and a debt-to-equity ratio of 0.39.

Valero Energy (NYSE:VLO - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The oil and gas company reported $0.89 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.16 by ($0.27). The business had revenue of $28.76 billion for the quarter, compared to the consensus estimate of $28.54 billion. Valero Energy had a net margin of 0.72% and a return on equity of 6.30%. Valero Energy's revenue for the quarter was down 4.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.82 earnings per share. Analysts expect that Valero Energy Corporation will post 7.92 EPS for the current fiscal year.

Valero Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Tuesday, May 20th were given a $1.13 dividend. This represents a $4.52 annualized dividend and a dividend yield of 2.92%. The ex-dividend date was Tuesday, May 20th. Valero Energy's payout ratio is 159.72%.

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.