Merewether Investment Management LP Buys 199,829 Shares of Valero Energy Co. (NYSE:VLO)

Merewether Investment Management LP boosted its holdings in shares of Valero Energy Co. (NYSE:VLO - Free Report) by 198.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 300,672 shares of the oil and gas company's stock after buying an additional 199,829 shares during the period. Valero Energy makes up about 1.5% of Merewether Investment Management LP's portfolio, making the stock its 29th largest position. Merewether Investment Management LP owned approximately 0.09% of Valero Energy worth $36,859,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in VLO. Principal Financial Group Inc. lifted its position in shares of Valero Energy by 0.8% during the third quarter. Principal Financial Group Inc. now owns 368,454 shares of the oil and gas company's stock valued at $49,752,000 after purchasing an additional 3,065 shares in the last quarter. Czech National Bank lifted its position in shares of Valero Energy by 5.2% during the 4th quarter. Czech National Bank now owns 68,642 shares of the oil and gas company's stock worth $8,415,000 after buying an additional 3,378 shares in the last quarter. EWG Elevate Inc. purchased a new position in shares of Valero Energy in the 4th quarter worth approximately $438,000. Fiduciary Alliance LLC raised its stake in shares of Valero Energy by 14.1% during the 4th quarter. Fiduciary Alliance LLC now owns 3,044 shares of the oil and gas company's stock worth $373,000 after purchasing an additional 376 shares during the period. Finally, Trust Co. of Toledo NA OH grew its position in Valero Energy by 7.4% during the fourth quarter. Trust Co. of Toledo NA OH now owns 1,778 shares of the oil and gas company's stock valued at $218,000 after buying an additional 122 shares during the period. Institutional investors and hedge funds own 78.69% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on VLO shares. TD Cowen dropped their target price on shares of Valero Energy from $121.00 to $118.00 and set a "buy" rating on the stock in a research note on Friday, April 25th. Raymond James reduced their target price on shares of Valero Energy from $165.00 to $155.00 and set a "strong-buy" rating for the company in a research note on Wednesday, April 9th. JPMorgan Chase & Co. reduced their price objective on shares of Valero Energy from $152.00 to $147.00 and set an "overweight" rating for the company in a research note on Monday, April 28th. The Goldman Sachs Group upgraded Valero Energy from a "sell" rating to a "neutral" rating and lifted their price target for the company from $115.00 to $127.00 in a research report on Monday, April 28th. Finally, Barclays raised their target price on Valero Energy from $140.00 to $141.00 and gave the stock an "overweight" rating in a research note on Monday. Four investment analysts have rated the stock with a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $149.60.

Valero Energy Stock Up 6.1%

Shares of NYSE VLO opened at $130.48 on Tuesday. The firm has a fifty day simple moving average of $120.32 and a two-hundred day simple moving average of $128.41. Valero Energy Co. has a 12 month low of $99.00 and a 12 month high of $167.78. The company has a current ratio of 1.57, a quick ratio of 1.11 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $40.87 billion, a PE ratio of 15.39, a price-to-earnings-growth ratio of 2.93 and a beta of 0.98.

Valero Energy (NYSE:VLO - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The oil and gas company reported $0.89 EPS for the quarter, missing the consensus estimate of $1.16 by ($0.27). Valero Energy had a return on equity of 9.58% and a net margin of 2.13%. The company had revenue of $28.76 billion during the quarter, compared to analysts' expectations of $28.54 billion. During the same quarter last year, the business earned $3.82 earnings per share. The business's quarterly revenue was down 4.7% on a year-over-year basis. Equities analysts expect that Valero Energy Co. will post 7.92 earnings per share for the current year.

Valero Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Tuesday, May 20th will be given a $1.13 dividend. This represents a $4.52 dividend on an annualized basis and a dividend yield of 3.46%. The ex-dividend date of this dividend is Tuesday, May 20th. Valero Energy's dividend payout ratio is presently 159.72%.

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.

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