Zurich Insurance Group Ltd FI Invests $23.27 Million in Valero Energy Corporation $VLO

Key Points

• Zurich Insurance Group Ltd FI has acquired a new position in Valero Energy Corporation, purchasing 176,210 shares valued at approximately $23.27 million, making up 0.06% of the company.
• Several analysts have given Valero Energy mixed ratings; while Piper Sandler raised their price target to $168, Citigroup downgraded their rating from "buy" to "neutral" but increased the target price to $150.
• Valero Energy announced a quarterly dividend of $1.13, yielding 2.8%, although the company has a high payout ratio of 188.33%.

Zurich Insurance Group Ltd FI purchased a new stake in shares of Valero Energy Corporation (NYSE:VLO - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 176,210 shares of the oil and gas company's stock, valued at approximately $23,272,000. Zurich Insurance Group Ltd FI owned 0.06% of Valero Energy at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Wayfinding Financial LLC acquired a new stake in shares of Valero Energy during the first quarter valued at approximately $26,000. Hazlett Burt & Watson Inc. raised its holdings in shares of Valero Energy by 156.6% during the first quarter. Hazlett Burt & Watson Inc. now owns 213 shares of the oil and gas company's stock valued at $28,000 after acquiring an additional 130 shares during the period. Ameriflex Group Inc. acquired a new stake in shares of Valero Energy during the fourth quarter valued at approximately $29,000. Iron Horse Wealth Management LLC acquired a new stake in shares of Valero Energy during the first quarter valued at approximately $44,000. Finally, Hemington Wealth Management grew its position in Valero Energy by 39.9% during the first quarter. Hemington Wealth Management now owns 333 shares of the oil and gas company's stock valued at $43,000 after purchasing an additional 95 shares in the last quarter. Institutional investors and hedge funds own 78.69% of the company's stock.

Valero Energy Stock Down 0.5%

VLO stock traded down $0.81 during trading hours on Friday, hitting $156.78. The company's stock had a trading volume of 1,642,612 shares, compared to its average volume of 2,390,270. The company has a quick ratio of 1.11, a current ratio of 1.62 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $48.70 billion, a PE ratio of 65.33, a price-to-earnings-growth ratio of 1.85 and a beta of 1.10. Valero Energy Corporation has a 12 month low of $99.00 and a 12 month high of $163.02. The stock has a 50 day moving average price of $145.24 and a two-hundred day moving average price of $132.89.

Valero Energy (NYSE:VLO - Get Free Report) last posted its earnings results on Thursday, July 24th. The oil and gas company reported $2.28 EPS for the quarter, topping the consensus estimate of $1.66 by $0.62. The company had revenue of $29.89 billion during the quarter, compared to the consensus estimate of $27 billion. Valero Energy had a net margin of 0.62% and a return on equity of 5.76%. The company's revenue for the quarter was down 13.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.71 earnings per share. On average, equities research analysts expect that Valero Energy Corporation will post 7.92 earnings per share for the current year.

Valero Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Thursday, July 31st were given a $1.13 dividend. This represents a $4.52 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend was Thursday, July 31st. Valero Energy's payout ratio is currently 188.33%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on VLO. Piper Sandler boosted their price objective on shares of Valero Energy from $171.00 to $200.00 and gave the company an "overweight" rating in a research report on Thursday. Wells Fargo & Company boosted their price objective on shares of Valero Energy from $151.00 to $168.00 and gave the company an "overweight" rating in a research report on Wednesday, July 9th. UBS Group boosted their price objective on shares of Valero Energy from $164.00 to $165.00 and gave the company a "buy" rating in a research report on Friday, July 25th. TD Cowen downgraded shares of Valero Energy from a "buy" rating to a "hold" rating and boosted their price objective for the company from $118.00 to $140.00 in a research report on Tuesday, July 22nd. Finally, Evercore ISI began coverage on shares of Valero Energy in a research report on Wednesday, June 18th. They set an "in-line" rating and a $135.00 price objective on the stock. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat, Valero Energy presently has a consensus rating of "Moderate Buy" and an average target price of $158.87.

About Valero Energy

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.