William B. Walkup & Associates Inc. Increases Stake in Valero Energy Corporation (NYSE:VLO)

Key Points

• William B. Walkup & Associates Inc. increased its stake in Valero Energy Corp by 3.2% during the first quarter, acquiring an additional 2,322 shares, bringing its total to 75,595 shares valued at approximately $9.98 million.
• Valero Energy reported a quarterly earnings of $2.28 per share, exceeding analysts' expectations of $1.66, despite a 13.3% year-over-year decline in revenue.
• The company announced a quarterly dividend of $1.13, translating to an annualized yield of 3.4%, with a high dividend payout ratio of 188.33%.

William B. Walkup & Associates Inc. lifted its stake in shares of Valero Energy Corporation (NYSE:VLO - Free Report) by 3.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 75,595 shares of the oil and gas company's stock after purchasing an additional 2,322 shares during the quarter. Valero Energy accounts for about 6.1% of William B. Walkup & Associates Inc.'s portfolio, making the stock its 2nd largest position. William B. Walkup & Associates Inc.'s holdings in Valero Energy were worth $9,984,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Kestra Private Wealth Services LLC grew its holdings in Valero Energy by 18.5% during the 1st quarter. Kestra Private Wealth Services LLC now owns 22,402 shares of the oil and gas company's stock worth $2,959,000 after acquiring an additional 3,503 shares during the last quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund bought a new stake in Valero Energy during the 1st quarter worth approximately $766,000. Sendero Wealth Management LLC grew its holdings in Valero Energy by 11.0% during the 1st quarter. Sendero Wealth Management LLC now owns 20,198 shares of the oil and gas company's stock worth $2,668,000 after acquiring an additional 2,000 shares during the last quarter. AlTi Global Inc. grew its holdings in Valero Energy by 18.2% during the 4th quarter. AlTi Global Inc. now owns 64,793 shares of the oil and gas company's stock worth $8,585,000 after acquiring an additional 9,963 shares during the last quarter. Finally, Focus Partners Advisor Solutions LLC grew its holdings in Valero Energy by 130.0% during the 4th quarter. Focus Partners Advisor Solutions LLC now owns 7,884 shares of the oil and gas company's stock worth $967,000 after acquiring an additional 4,456 shares during the last quarter. 78.69% of the stock is owned by institutional investors.

Valero Energy Price Performance

Shares of NYSE:VLO opened at $133.24 on Wednesday. The company has a 50-day moving average price of $139.27 and a two-hundred day moving average price of $130.84. The company has a quick ratio of 1.11, a current ratio of 1.62 and a debt-to-equity ratio of 0.38. Valero Energy Corporation has a twelve month low of $99.00 and a twelve month high of $155.12. The firm has a market capitalization of $41.39 billion, a PE ratio of 55.52, a P/E/G ratio of 3.12 and a beta of 1.03.

Valero Energy (NYSE:VLO - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The oil and gas company reported $2.28 EPS for the quarter, beating analysts' consensus estimates of $1.66 by $0.62. Valero Energy had a net margin of 0.62% and a return on equity of 5.76%. The company had revenue of $29.89 billion during the quarter, compared to analyst estimates of $27 billion. During the same period last year, the business earned $2.71 earnings per share. Valero Energy's revenue was down 13.3% compared to the same quarter last year. Equities analysts forecast that Valero Energy Corporation will post 7.92 EPS for the current year.

Valero Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Thursday, July 31st will be given a $1.13 dividend. This represents a $4.52 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date is Thursday, July 31st. Valero Energy's dividend payout ratio (DPR) is 188.33%.

Analysts Set New Price Targets

VLO has been the topic of a number of recent analyst reports. The Goldman Sachs Group upgraded shares of Valero Energy from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $127.00 to $154.00 in a research report on Tuesday, May 13th. Evercore ISI began coverage on shares of Valero Energy in a research note on Wednesday, June 18th. They issued an "in-line" rating and a $135.00 price objective on the stock. Wolfe Research lowered shares of Valero Energy from an "outperform" rating to a "peer perform" rating in a research note on Monday, July 14th. JPMorgan Chase & Co. dropped their price objective on shares of Valero Energy from $152.00 to $147.00 and set an "overweight" rating on the stock in a research note on Monday, April 28th. Finally, Morgan Stanley raised their price objective on shares of Valero Energy from $145.00 to $160.00 and gave the company an "overweight" rating in a research note on Wednesday, July 16th. Five equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $154.47.

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.

Want to see what other hedge funds are holding VLO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Valero Energy Corporation (NYSE:VLO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.